Business Data Intelligence, Why do you need it?
Business data makes your life as an entrepreneur easier. If you run a business you probably make decisions regularly that affect your business. How much are you going to invest in inventory, marketing, and what other tweaks you can make to ultimately increase profits.
I’m sure if you are running a web based business you are familiar with Google Analytics. Google Analytics is type of data analysis, it takes on data as a visitor clicks around your website and shows you basic data of most visited pages, traffic sources, etc. However not every piece of data you have is finely tuned into tracking a visitor on your website, and you have to start adding custom events to really get smart with your business.
The best way to make a decision for your business is to base it on actual, current data. While it is easy to use Google Analytics to get most visitor data, what if you want something more specific? In Google Analytics you can use custom event tracking, or sending data to Google Analytics with a custom piece of code. Tracking that event can now happen through Google Analytics.
If you are unsure of what might need custom event tracking, think about what someone may click on to get to a page. Google Analytics will tell you what page they came from and landed on, but not necessarily “they clicked on button A or button B”, which is where custom event tracking comes in handy. Knowing what people click on can help you better analyze your site for both layout, colors, and messaging. side note: I know this example is more A/B testing appropriate, but I’m using it as a very basic example of custom events
You may pay for advertising, but how would you know if it is working? With an e-commerce store you might add a coupon code which you can track, or maybe send the users to a unique URL on your site that you can track. This is “after the fact” data analysis, you are monitoring how well a decision you already made is doing.
