Data-Based Decisions: Tools and Technologies

We Live In a Data-Driven World

Thanks to new technologies, the digital age has produced an abundance of data of all types. This explosion of information even spurred a new field that’s responsible for analyzing vast volumes of data to obtain relevant insights. We’re talking about Big Data.

This field gives businesses in all sectors — healthcare, travel, education, finance, retail, and more — the opportunity to make decisions based on facts and reason, rather than guesswork. And technologies, developed by the likes of BairesDev and other quality software and IT firms, make data fully available.

Why Do We Need Data?

Big Data has a range of purposes. Businesses can learn about customer habits, which initiatives are performing successfully — and which aren’t — and how their operations are running. For example, if a business sees that a particular process is taking more time than in similar areas, they can develop a plan to rectify it, based on the data they’ve accrued. It can also be used to compare an organization against the competition.

Organizations also use data to justify their decisions to stakeholders. This information can help demonstrate why a particular action is sound. While anecdotal evidence does have a place, hard data goes further in demonstrating why these decisions are useful.

This is why practically every business — from the tech giants to mom-and-pop stores — are making data-based and data-informed decisions these days, helping them reach new consumers, support established ones, try initiatives, and stand out against the competition.

How to Choose Tools

When selecting tools to help you gather data and make informed decisions, consider the following:

The tools you currently have
The skills your employees will need to deploy them successfully
The current skill sets of your employees
The training you might need to provide to use the tools
What particular kinds of data you need
The costs involved

Technologies That Gather and Allow You to Utilize Data

Here’s what you need to get started.

CRM
Today, many organizations are leveraging customer relationship management (CRM) systems. Brand names like Salesforce and Microsoft Dynamics allow you to gather, organize, and easily access an abundance of data on your customers, enabling your sales and marketing team and other staff to build better relationships with clients. This, of course, is critical to building, maintaining, and growing your business.

At BairesDev, we can take your current CRM software up a notch by customizing it with integrations that take the specific needs, goals, and processes of your organization into account. Or, if you don’t have an existing CRM platform in place, a software development company like BairesDev can create a new one from scratch, which means you won’t have to pay licensing fees and deal with other complications since you’ll own the software.

Either way, you’ll have an abundance of data, from previous orders, client details, and other information to empower your decisions regarding clients and improve your relationships in and outside your organization.
Analytics-Tracking Platforms
Tracking analytics is one of the best ways to see an abundance of important data to better inform your business decisions. Through tools like the well-established Google Analytics, you can see big-picture reports on website traffic, specific audiences, the length of time visitors spend on specific pages, the times people are interacting with your site, and much more.

You can also gain insights from social media analytics platforms like HootSuite. By observing click-through rates, engagements, the content that is performing best, audience demographics, ROI, and more, you’ll be able to adjust your marketing and social media campaigns accordingly to build more successful efforts. Many email marketing platforms like MailChimp also provide analytics to better fuel your initiatives.

You can also work with a custom provider like BairesDev to leverage the talent of experts who will build you an analytics platform that will present the particular insights you need to make more informed decisions, collating the information you need in one place. A provider will work with you to help organize and assess the actionable data you gather.
Market Research
Not all data needs to be gathered by technological means — but tech can still augment and support human efforts, even when the information is collected by more traditional means and models.

For example, market research, which allows businesses to gather intel on how prospective consumers will respond to products and what they need from products and services of this type, includes a variety of both technical and non-technical methodologies. Simple questionnaires and surveys, focus groups, interviews, case studies, checklists, personas, and competitive analysis are just some of the methods market researchers use.

Even with data-collection tools that largely involve human deployment and intervention, technology can assist. For instance, you might use the platform SurveyMonkey to digitally gather and organize surveys. Meanwhile, during interviews, you might use a digital camera to record the interaction, enabling you to review the footage later. And, of course, you can organize the data you collect later in a digital database.

Data is the power behind organizations of all types. It’s the fuel that provides reason, informing and supporting your decisions, and helping you justify them to key stakeholders. CRMs, analytics platforms, and market research are just some of the tools you can use to collect and analyze data.

The Takeaway

When it comes to leveraging these tools to make the most of their capabilities, a trusted provider is essential. At BairesDev, we can augment existing platforms or build custom technologies from scratch. And don’t forget about training. Because what good are these tools if your employees are unable to use them correctly and maximize their features? We can also help you train your staff in the art and science of utilizing these technologies.

Contact us today to learn more about how data-collection tools can support your organization and what BairesDev — and its top 1% of IT and software talent — can do for you.