Do you know what's going on in your business?

By Paul Smullen on August 13, 2018

As a company grows, it becomes increasingly challenging for senior management to answer key questions about the business’s health, progress and customers. Paradoxically, much of the data required to answer these questions will already be held by the business. However, this data is usually stored in multiple locations, making it challenging to ‘knit together’ and draw insights fast.

 

As a business grows and becomes more complex, the kinds of reporting that senior management require will naturally become more complex too. Headline figures about revenue are of course important, yet business decision makers will increasingly need to access more in-depth data to make strategic decisions about investment and processes. However, in many growing businesses, it can be very difficult to quickly generate reports that answer complex questions. All too often, the data needed to answer these queries is held by different departments who store it in multiple systems, both on-premises and in cloud-based platforms. Because data is stored in so many locations, it becomes very challenging to collate.

Five examples of complex questions senior management may need to ask:

Can your growing business rapidly answer these types of questions?

1. Which of your recent marketing campaigns had the highest impact?

2. Can you segment customer lifetime value by region and demographics?

3. Is there a difference between the kinds of business your salespeople are winning?

4. Are customer retention costs less than customer acquisition costs?

5. Are you getting a fair deal on your outsourced services?

Download our PDF that provides an interesting read and advice on how to get better insights to your business.

 

https://resources.ddaas.com/knowing-your-business

 

 

Topics: Marketing, Business Analytics, Campaign Optimization, Business Intelligence for SMEs

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Written by Paul Smullen

Ddaas help business grow using their own data.

We help companies from all sectors improve their return on their marketing investment, by showing them where their money is best spent, how to better segment their audience and decide who they should target with their promotional efforts.

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