Table of Contents
The first thing data can do for your business is drive visibility in key areas. Visibility is the precursor for improvement and with better visibility come better questions.
We learn by asking questions. Visibility allows us to ask questions that help us build a mental model of the input and output levers of your business. A critical key step in allowing for optimization.
Data science, predictive analytics, recommendations are predicated upon having the right visibility and a comprehensive understanding of what’s actually happening. Rushing into these areas first without the prerequisites is a big no no.
Visibility Into Your Go To Market Strategy
Some of the important questions we want to answer are – where are your sales coming from?, what are the most successful sales channels? What’s your lead conversion time per channel? Is the LTV of users from one channel better than another?
How Are Customers Using Your Product?
Page views, clicks, average time spent are basic metrics. Setting up client side tracking correctly allows us to get granular with feature adoption, A/B test different UI/UX flows, segmentation based on usage.
Sales Team Optimization
One level deeper than how each sales rep is progressing towards their quota. Adding light on which industry or segment each sales rep specializes in or different deal closing times per rep allows us to better assign qualified leads to each rep to maximize deal flow.
Customer Segments
What are your different customer segments based on time spent, purchasing patterns, product selection, engagement inside the app? Getting granular with the different personas of users allows us to better target each segment. A one size fits all in reality doesn’t fit for anyone.
Marketing Attribution
How do we quantify the influence each advertising impression has on a consumer’s decision to make a purchase decision, or convert? Marketing attribution allows us to maximize our ROI on dollars spent in order to drive user action.
Supply Chain Optimization
Too much or too little inventory both have negative consequences in consumer goods or ecommerce businesses. Therefore understanding distribution, inventory and manufacturing processes are critical in being able to predict demand and match that with supply.
Building a data platform doesn’t have to be hectic. Spending over four months and 20% dev time just to set up your data platform is ridiculous. Make 5X your data partner with faster setups, lower upfront costs, and 0% dev time. Let your data engineering team focus on actioning insights, not building infrastructure ;)
Book a free consultationHere are some next steps you can take:
- Want to see it in action? Request a free demo.
- Want more guidance on using Preset via 5X? Explore our Help Docs.
- Ready to consolidate your data pipeline? Chat with us now.
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