Five ways to use fact-based decision making to improve your business.
I recently read a research report from Babson Executive Education entitled "Competing on Analytics." While this isn't a new report and it doesn't focus specifically on Web analytics, I found a number of the points in it very interesting. They position analytics as a competitive strength across all industries.
Some of the points translate directly to Web analytics. In fact, many elements such as the need for executive support and the importance of data accuracy have been touched on in a number of these columns.
The research revolves around "fact-based decision making," using data to make smarter, more informed decisions. It touches on all business organizations, from financial services to professional sports teams. No matter the industry, it's clear that smarter decisions can be made when people are more educated through correct, accurate data.
I've often written about data driven organizations. My new book, Actionable Web Analytics: Using Data to Make Smarter Business Decisions has a few chapters dedicated to this topic. It is a common struggling point - how do you shift the way your organization makes decisions? Where do you start? Who needs to be involved? How do you do it? And what does it mean?
They identify several key attributes of companies successful in using and leveraging analytics to become more competitive in their industries. I found them interesting and on point, and wanted to add a few details to make them more specific to Web analytics specifically.
Attributes they identify include:
Take a look at the full report if you're interested, but also consider what it will take to shift your company's thinking and become a data driven organization where you can truly take advantage of the data.
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As President of the Americas at POSSIBLE, Jason is responsible for leading the long-term stability and growth of the region. With more than 20 years experience in digital strategy, he is a long-time advocate of using data to inform digital strategies to help clients attract, convert, and retain customers. Jason supports POSSIBLE's clients and employees in driving new engagements and delivering great work that works. He is the co-author of Actionable Web Analytics: Using Data to Make Smart Business Decisions.
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