Diving into Understanding Analytics

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It goes without saying that the world as we know it has become more and more inclined towards modern marvels like digitalisation and technological advancement. In literally every aspect of life as we know it, this is fundamentally and without exception the truth. A perfect example of these modern marvels in vivid motion is the incredible movement to the online landscape. The more instrumental a role the internet continues to play, the more driven we are to protect and organise all the data that is put into that virtual landscape all the time.

This is where powerful innovations like analytics and big data come into play. Without a doubt, analytics is one of the most misunderstood and misinterpreted innovations to date. This is one of the most important innovations in the digital era, and it all comes down to the fact that this is where a lot of the organisation and underlying power comes full force and proves to be not only recommended, but largely (if not entirely) necessary to the ongoing evolution and expansion of the modern world as we know it.

Understanding analytics

In short, analytics is all about analysing data and information to better organise and store it so that it can be tracked more conveniently and more efficiently. Underneath it all, and more important than anything else, is the realisation that analytics is all about making life easier in the way of introducing and more heavily incorporating analytics processes and systems so that they can work towards a more organised and well-structured future iteration of the former framework. At the end of the day, that is always the aim, and it always will be.

Why can’t this be man-powered? Simply because the world has become impossibly saturated in data and information, and it will take a person a lifetime to go through a single day of data. With analytic software, you can stay on top of your game with the most up-to-date information on your current market. This will take a big load off your marketing team’s shoulders as they will be able to better prepare for your target demographic.

The power of analytics

Knowing your target audience and their patterns is largely essential to success. This does not mean that it is only relevant to commerce. On the contrary, all businesses can benefit from the power of analytics. A large corporation can implement it and increase productivity. A business with a support system will benefit from it in terms of creating a more cohesive database. When A.I. is included, analytics will help it learn better and have more coherent conversations with clients and pulling up the most relevant information and creating a personalised experience.

Large companies can also use it to discover how efficient their work process is and tweak it accordingly. With time management, collaboration opportunities and software efficiency, the management can look into each of their factors and offer a viable solution. For instance, if the current invoicing system is taking up too much time, it might be due for an upgrade.

Many phones nowadays offer analytics on your personal usage and many have taken it upon themselves to uninstall a form of social media or another due to it as they can see how their productivity greatly suffers due to the amount of time they spend staring at the screen.

Algorithms rely very much on analytics. Take for instance Netflix’s “watch next” feature. It takes into consideration what films you have watched, what films others who have enjoyed that particular film have watched, and by comparing these data, have come up with a rather accurate list of recommendations for viewers to peruse. Netflix is an extremely data-driven platform. From choosing what movies or series to pursue and produce, to the aforementioned feature, Netflix utilises the data available to them through the viewing habits of their customers to generate more interest. Therein lies the usefulness of analytics.

However, many don’t realise that it goes deeper than that and when you press pause, rewind or stop, these are all useful data to their analysis. A cancelled show that gets interest might be renewed for a new season. If old Hollywood films are generating interest, perhaps it’s time to invest in more classic movies – everything you do on Netflix is recorded and analysed for a better viewing experience for everyone.

So, it has been said before that analytics is essentially the “fabric of the future”. In many ways, this is remarkably acute. The power of analytics lies in the fact that it works with data and numbers to create structured approaches to organising, sorting, and tracking data sets from one movement onto the next. In this way, there is no organisational basis, no tracking formation, that is more worthwhile than analytics. Even if you do not necessarily deal with analytics personally on a daily basis, you can be sure that it is operating all around you.

The influence of analytics

With all this data at your fingertips, you are able to better understand your customers and a satisfied customer is a returning customer. Being able to deliver a tailored experience for your clients will drive brand loyalty and develop better relationships with your audience. These insights will not only help your brand be noticed, it will be noticed by those who matter to your brand and will be instrumental in its success. From marketing processes to delivery mode and even product production, you will be able to forge a much more efficient performance in all aspects.

Regardless of if it is sifting through the data sets that go hand in hand with social media marketing to find set information or building an analytical backlog that powers up and automatically backs data up on the regular (to name just a few examples of all the possibilities, of course), the influence of analytics is felt everywhere and it is felt often (if not always) these days. There is a lot to be said about the tremendous influence of analytics, and most of it (if not all of it) is exceptionally positive. This is the new norm, and analytics is leading the charge into the new era of data storage, organisation, and tracking. It will also help the world of consumerism be more in tune with the desires of their target audience, delivering only what the world needs instead of churning out product after product, leaving behind a wasteland of unwanted goods.

Rehan is an entrepreneur, business graduate, content strategist and editor overseeing contributed content at BigdataShowcase. He is passionate about writing stuff for startups. His areas of interest include digital business strategy and strategic decision making.