Making Data Based Decisions in Your Business

If there’s one thing that runs true across businesses of all shapes and sizes, selling a host of different products and services, it’s that you should be using data to inform important decisions when you’re trying to drive your business forward.

Data is basically any information you can collect – whether that’s from your customers, people spending time on your website, feedback on surveys or anything else – that can help you to make better decisions that will drive sales and profits within your business.

All too often, we let our emotions and personal inclinations drive our choices while working, but data gives us accurate and informed information that can help us to alter business operations and processes in a way that boosts profit.

Use Data Specialists

Perhaps the easiest and most straightforward way to determine what data you should be collecting, how to collect it in a legal and professional manner and how to use it to the benefit of your business, is to use data specialists like MCH Strategic Data. Companies like this have experts on hand who know the ins and outs of these entire processes and cut out a lot of the guess work that most start ups make mistakes with when they’re first starting out. A data specialist will be able to discuss your goals with you and will help you to seek out the right data to drive your business forward in the direction that you want it to.

Try A/B Testing

If you are looking to improve your website or product listings, you can carry out A/B testing to let you know what works on your site or listing and what doesn’t. A/B testing is a process where you implement a randomized experimentation process, presenting two or more versions of a variable (this could be a web page, an image, an email subject line or any other marketing material) to different segments of your website’s visitors or email recipients. Some people will be presented with the A version of the variable. Some will be presented with the B version. You can then track user behavior to determine which version is best and which produces the results you’re looking for. For example, you might A/B test the main product image on your list. If you find that more people buy from the listing with the A variant than the B variant, you can assume that customers prefer the A variant and set this as the listing image for all listings.

Trust In Analytics

You can implement software on your website that allows you to see where users spend the most time. This can track time spent on pages, how far down pages users have scrolled, where people are most likely to click and more. This can help you to design your web pages in a way that maximizes engagement and cuts out any content that users aren’t finding that useful.

Hopefully, some of the tips above will help you to make the best and most data driven decisions for your business’ benefit.

This is a contributed post.