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Analytics & Marketing Metrics

How to Avoid 5 Mistakes of Customer Data Analysis

Numbers may not lie, but they also do not tell the whole story either. For all their good intentions, businesses often mistake the message that their accumulated customer data is sending them. In an article for CIO magazine, Anna Frazzetto discusses five particular mistakes businesses make and how to not fall victim to them: Forgetting about exceptions Missing customer blind spots Looking backward instead of forward Not letting the customer lead Forgetting to explain the …

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What CFOs Need to Know for Financial Analytics Success

CFOs know their numbers, but analytics is still a bear for just about everyone in the beginning. A particular problem for businesses right now is that resources are getting tapped out just in the process of producing analytics reports—which leaves no resources leftover to actually interpret them. In an article for Digitalist Magazine, Elizabeth Milne examines the nuances of using analytics in a way that actually pushes business forward. Pillars of Success Drawing from best-in-class …

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You Don’t Want a Big Data Project

You want to stay competitive, so you had better start building some more robust analytics. But if you issue an edict that “Big data is coming” and make that itself the project, then you are going to run into problems. In an article for Forbes, Bernard Marr discusses how big data is just another tool, and to treat it as an end-goal is to miss the point. Always Be Goal-Driven Analytics get used to solve …

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Why Is Digital Benchmarking Important?

You can benchmark virtually anything as long as you have a really good reason for it. In an article for Entrepreneur, Paulius Stankevicius considers the value of digital benchmarking in sales and marketing contexts. He discusses broadly how to make the experience worthwhile. Get Those Digits Stankevicius discusses the benefits of digital benchmarking like this: Digital benchmarking gets the answers related to online performance. This analysis opens up the very hard to answer questions such …

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3 Big Data Developments No One Is Talking About

When it comes to big data and analytics, many of us get stuck in a quagmire of buzzwords and platitudes that have emerged around them. But amid uncertainty, the development of analytics has continued all the same, some of which is finally cutting through the haze. In an article for InformationWeek, Nick Elprin and Philip Levinson identify three particular developments you should be aware of: Big data’s diminishing returns: De-emphasizing the size of the data …

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How to Integrate Data and Analytics into Every Part of Your Organization

Analytics spending is anticipated to top $200 billion by 2020, so organizations better make sure they are spending that money in the right ways. It is not enough to just toss money at new technology, but it is certainly not enough to just trust people to figure it out for themselves either. In an article for Harvard Business Review, KPMG’s Carl Carande, Paul Lipinski, and Traci Gusher discuss how to apply analytics strategically across the …

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Is Your Company Using Employee Data Ethically?

Like Jeff Goldblum’s character observed in Jurassic Park, sometimes we get so swept up in whether we can do something that we forget to ask if we should do it. This is especially true regarding the huge new possibilities for exploiting employee data that businesses have. In an article for Harvard Business Review, Kon Leong reviews the ethical challenges that come attached with employee data. Balancing Data and Privacy Right now, businesses are using employee …

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4 Steps to Analytics Success

It used to be that businesses could never learn enough about their customers or about business process shortcomings. Now, businesses can learn virtually anything they want, and the harder challenge is deciding what parts are important. In an article for InformationWeek, Rosemary Radich shares four steps to distinguish important data from fluff and use it to transform the company: Identify your end goal. Identify the good, the irrelevant, and the unusable. Data is only as …

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Why Hoarding Your Data Is Hurting Your Business

Ostensibly, wanting to secure every bit of data in the business makes perfect sense. It is your property, and you would never let someone walk into your house and take your TV. But the reality is that holding data too close to the vest may actually be hurting you. In an article for Inc., Joshua Klein describes where hoarding goes wrong and what should be done with data instead. Show and Tell and Profit In …

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Does Your Company Know What to Do with All Its Data?

The trouble with buried treasure is just knowing where to dig the hole. Likewise, you might be collecting a lot of data in your business, but if you do not know where to “start digging” with it, you will never strike gold. In an article for Harvard Business Review, Thomas C. Redman discusses some of the many ways that you can use your data to create new advantages: Make better decisions. Innovate products, services, and …

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