Getting to know your potential customers may be something you can’t easily do in the past given that a close and intensive investigation of an unsuspecting consumer can be branded as ‘stalking’. But times have changed. Today, there’s an even more effective way of learning what the customer wants through analyzing trends. All of these are made possible by data.
Data pertains to the set of values acquired through advanced methods. It’s computed and when analyzed, a pattern or specific trend emerges. Gathering these values and variables have become easier since most people stay online. And it’s also true that they have patterns regarding what websites to frequent. When the figures are analyzed, the right process can easily link it to human behavior. Therefore, making it easier for businesses to understand the ‘trend’ and the specific interest of their potential consumer.
Businesses have seen the power of efficient data management and usage. When the proper strategies are applied, you’ll be able to use this as your comprehensive guide to your company’s next steps. If you’re planning a new product or service or you wish for a better marketing campaign, the facts that only topnotch data quality will show can help you create a near-perfect plan to attain your goal.
But anyone who’s new to this will feel the confusion. It’s normal. Making mistakes on the first few tries is normal as well. Still, minimizing the errors are highly essential. There are several steps you can get right the first time if you just know what to avoid.
- Avoid chart junk. Data overload is an ultimate no-no. This is the most common error that beginners make. Just because it seems a little relevant doesn’t mean it’s useful. Create filters to help in categorizing which among the figures are useful
- Avoid being overly complacent with data. Never assume that you’re collecting accurate data. No matter how confident you are of the programs and the algorithms or the process, there’s a chance that everything can go wrong. It’s easier to feel when something’s not right when you’ve been doing it for quite some time. But newbies must never get complacent.
- Avoid thinking the calendar stays the same. The normal movement of trends when it changes is gradual. But you’d be wrong to think that this is the only movement. Sudden and abrupt changes can easily happen, especially during holiday seasons and during tax seasons. Your figures can easily be wrong.
- Try your best to avoid asking where a specific data originated. Have you ever asked the other members of the team where a specific data came from? When you’re using numerous sources, it means that it also came and was processed by different systems. When the company lacks the means to properly track the origin of each figure that’s when mix-ups happen. Merging data may not easily happen because of this. There’s a need to backtrack which means more work.
- Avoid fixating on the smallest things. When one gets used to working, the brain automatically singles out the figures that may present a specific pattern. And because of this fixation, you may easily create a pattern when there’s really none. This has happened to people who have fully adjusted to the process for the first time. Because that’s what your brain is taught to do, it automatically scans everything without properly considering the tiny details. One thing to remember in data analysis: The little things do matter.