Data analysis and performance tracking can be very burdensome and take an enormous amount of time, making the company less efficient and slower when meeting customers’ demands.
That happens because all efforts are focused on tasks that can be automated, thanks to the AI solutions.
Companies, especially small ones and start-ups need technological innovations in order to stay competitive on the market and follow up with the large enterprises which enjoy having a lucrative budget and an extensive staff to perform detailed tasks.
The term of Data analysis describes a process of cleaning, transforming, and modeling data in order to discover useful information for business decision-making.
Data analytics in marketing is a crucial part of every business, since it is a highly substantial part of every type of decision-making within a company. Analytics tools are becoming and more and more important in ecommerce, and it is clear to see why. The data analysis can be used to determine outcomes within different types of marketing analytics and analytics in general:
As you can see, data analysis is very far-reaching, therefore, it simply cannot be ignored.
Many small companies and start-ups implemented data analysis within their business activities at the imprecise level, making them vulnerable players at the market dominated by large enterprises that are specialized in reading customers’ data thanks to AI implementations.
Consequently, champion-level data analysis performance calls for technologically advanced tools.
Customer Data Platform is one of the most precise and accessible software on the market whose goal is to improve the performance of data analysis.
CDP offered by Custimy is a highly progressive version of the software, meaning that it provides businesses with such sophisticated oppirtunities as:
Performance tracking (business performance management) is used to track relevant business metrics (KPIs- Key Performance Indicators). The tracking is a vital part of every business, since it helps monitor and grow the progress according to clearly defined set of goals.
Essentially, all relevant factors need to be measured, but considering a small character of the business, as well as its early stage of development, the focus should be directed specifically towards:
All mentioned KPIs require a company to have an in-depth and updated set of customer data. Therefore, Customer Data Platform should play a crucial role in tracking the company’s performance.
As mentioned above, CDP is able to present real-time data about a single customer to everyone involved in the KPIs measurement. A CDP can give you in-depth marketing analytics reports that give you a better idea of how your marketing is performing.
Thanks to the software, your company would not stay behind competitors and will be able to capture all digitally existing data about clients, making your service super-efficient and customer-oriented.
Capturing data sounds like a great idea for a small business or a start-up which does not know their customers well enough, but are there actually any more specific benefits of it?
Yes, plenty of them! That is why, even larger enterprises and industry’s leaders measue KPIs on a daily basis.
Examples of the most significant KPIs benefits:
The best way to minimize time spent on data analysis and performance tracking is to invest into a reliable AI solution which would gather all necessary information by itself.
Besides that, AI softwares have one more extra advantage; they provide an actual and explicit data, qhile information gathered by marketers using traditional methods are very imprecise and faulty.
The Customer Data Platform significantly lowers the amount of time which needs to be spent on analyzing data by presenting all detailed information about a customer with real-time precision.
Your staff do not need to spend hours on reading and translating data- they have it delivered right on time for an affordable price! Analytics tools like Custimy is key to any succesful ecommerce store today.