Businesses across the globe are becoming consumed by Data and Analytics, we have never seen so much investment into data science, customer analytics, business intelligence. So what does a data analyst actually do and how will they help your business?
Understanding your demographic
No matter what your business sells, makes or creates – understanding customer habits and demographics is vital to success.
Everything from your website to your social feeds and customer database will be filled with fascinating data that when analysed correctly can help to understand your target audience and their behaviours. You can then tailor services and product launches to specific groups, which will result in more successful sales.
Decision-making based on evidence
Every decision-maker in your business should have access to data before a big decision is made.
In some large organisations decision-making can take weeks, but with smaller or more agile businesses decisions can be made faster. Often a data analyst can streamline the decision-making process by analysing, extracting and presenting a clear set of data collected from multiple channels to the decision-makers.
Nearly half of Deloitte Analytics Advantage Report survey respondents (49 %) assert that the greatest benefit of using data analytics is that it is a key factor in better decision-making capabilities.
Test and retest
Data analysts take the ‘what ifs’ out of business decisions.
Not only are they able to extract and analyse information to ensure the right path is taken, but they can actually test to see which outcomes would be more beneficial for the business.
They will measure metrics related to important changes so that when the decision-making is complete you can ensure no mistakes or costly wrong moves.
Every business is filled with employees that are time-poor.
While you might have every intention of implementing methodologies, CRM programmes and loyalty campaigns – it is rare that anyone has the time to do this.
A data analyst will be on hand to scope, develop and manage these sorts of tools and analytics in a proactive manner while making recommendations for the team and supporting fellow employees with data tracking and analysis.
These are just some of the reasons a data analyst will be beneficial to your business, but we could list at least 20 more!
Surveys have reported that as much as 34% of companies claim that data quality, consistency and availability are some of the most important issues plaguing their analytics initiatives; and with the simple task of hiring a data analyst will reduce this strain and improve business functionality.