Data Analytics Tools for Business

Got your hands on millions worth of data, but can’t find ways to monetize it?

You aren’t alone! There are thousands of businesses experiencing the same issue.

With the advancement in technology, and better IoT and machine learning models, modern businesses are bound to deal with big ounces of data that require a lot of curating before it can be put any good use.

Knowledge was power, today data is power! With this powerful weapon, you definitely require guidance on how to curate this data and make it relevant. We first built the cloud, then data visualizations and business dashboards crashed their way in, thus replacing spreadsheets for analyzing and observing data insights.

But now, data analytics isn’t just for the sake of analyzing, it is much more.

Business Intelligence is also finding its way to enterprises. It has been a focus light throughout 2018, and now it’s time to continue its reign in 2019 too. Businesses, whether small or large are now looking for expanding their business intelligence and seeking solutions from the huge canopy of BI.  

Today, every businessman’s focus is on how to manage their increasing data this year. So, here are the top 5 data analytics tools to help you drive business growth in 2019!

Let’s see how these great tools can help using the era of multi-cloud accessibility and business intelligence, let’s see how these tools help:

1) Sisense for Artificial Intelligence and Business Intelligence

AI is helping machines to synthesize the functioning of a human brain. We need to know how our business is performing every day and every week. But with the help of artificial intelligence, we can understand the live performance of our firm. It means, we can see the insights every second!

Sisense is a great tool for building an intelligent AI system. The AI algorithm is supported by high-performing neural networks and is completely accurate. A lot of tech giants are using AI in many ways to keep themselves in the forefront. So, in 2019 it’s no surprise that this trend will keep growing. 

It is highly customizable and it transforms your complete data into dashboards and elastic tubes. You will come across a lot of statistical tools and features in this tool. You can create customizable dashboards for each team member in your company.

By maintaining and managing your data levels properly, the companies get leverage to compete in the global market and uphold their business intelligence principles.

2) Click tale – Track and View Data Insights the right way

To know how your business is doing online, you will have to trust web analytics tools such as Google analytics. But to give a tough competition to the Google Analytics itself, you have the Click tale that also provides an in-depth analysis of your website. This is becoming very popular amongst the businesses and website owners due to its amazing features.  

The Click tale tool also makes it easy for assisting business. This tool also offers you insights on behavioral analysis along with web analytics. It offers data optimized tools so that you can improve the inward flow of business. You can also check the path analytics of your website with this tool. With this platform, you can reach the required goals and formulate a good customer acquisition strategy.

3) SEMrush for Marketing Analytics

SEMRush is the right data analytics tool for examining your marketing strategies. They offer features which help you track KPIs and also the analysis of how your content or business is doing online. Also, this tool helps you analyze according to the search engine visibility of your website.

SEMRush is a one-stop shop for all your SEO and Digital Marketing Analytics. It also gives insights on keyword performance, backlinking data and other website analytics. With SEMRush, you can also review and track the performance of your competitor’s website and use that information to bid for keywords to improve your digital marketing efforts.

4) DataMelt Tool

Data Melt helps in power analytics. It comes to your rescue when there is a need for intense analysis. Also, if you are thinking this comes with a set of tools, then you are mistaken. You can customize it according to your will.

Also, you can use it for decoding fields like mathematics, financial marketing, engineering, and statistics. Also, it has a great number of tools and is available over 500 Python modules. DMelt or Data Melt is in various languages. This tool can also be applied for any kind of business analysis.

5) Kissmetrics for Predictive Business Analysis & Social Media Marketing

Kissmetrics is used especially for understanding the whole route of customer’s behavior. For a business to grow, there is a need for understanding what the customer wants. By studying his/her searches or predicting what he/she usually looks for, we need to strategize in a way that our product is reaching them and striking a right chord with them.

Also, Kissmetrics will be of huge help if you are making any digital marketing strategies. The tool, which was founded by the famous SEO strategist and Guru Neil Patel, offers an exclusive and holistic marketing analytics solutions for all business challenges. This tool also helps in engaging more customers.

The Kissmetrics tool easily integrates with your already existing analytics tools and also provides constructive criticism on the insights you drive. Also, you can execute smooth digital marketing initiatives with the help of its customer behavior- based automation features.

With these tools in hand, you can now do social media marketing in the right way. Thus, with such data analytics, it can help restructure your marketing approach and also attract more paying and prospective customers.

Conclusion

There are many factors for a business to flourish. You have to cater to your customers, their expectations, and in a similar way, you have to look at growing your sales funnel too.

If you are turning towards being a more data-driven organization, then understanding the data triggers of your business is crucial. Deploying or using any of the above tools will really put your company in high fame, or if you are looking for a custom-made data analytics tool for your business, then drop us a quick message here.

How Big Data is Influencing ECommerce

ECommerce in recent years has been quite popular amongst the public. People prefer the idea of choosing their desired products from the comfort of their homes. The massive success of the eCommerce industry could be attributed to the large amounts of data that is available today. Big data analysis, in particular, has been crucial in helping the retail sector keep up with the growing trends and mindsets of the consumers. The modern day consumer is truly a remarkable creature with a myriad of needs and expectation along with a constantly changing taste pallet influenced by the media. In today’s market, it is hard to remain relevant without staying up-to-date with the constantly turning tide of the consumer demographic mindset. This is patently obvious with the various products that have a total lifetime of just a few months in the market after which a newer, more improved product takes over. Long gone are the days of time-tested products serving a loyal customer base for decades often bought from the same dealer. So, e-commerce and the use of the various tools that support is more of a mandate today rather than a choice. In India alone, it is expected that the e-commerce industry is set to cross the $100 billion mark in revenue by 2020. Now, let us have a look at the technology that influences e-commerce the most.

Data Analysis and Actionable Insights

As we have witnessed with everything today, data always plays a huge role. E-commerce in particular relies almost entirely on data for many processes. And there is a colossal amount of it online and analyzing it is by no means an easy task. It is here that big data makes a huge difference for all professionals within the e-commerce industry to make the best out of the data available to them. Deriving actionable insights that will help them with various processes from planning marketing strategies to campaigns, product placement, inventory, budget management etc. Professionals are now able to understand where their business strategies are taking a hit and plan contingencies that could be used to rectify them. Choosing the most effective marketing channel, the right platform to place the product are just a few of the perks that data analytics offers.

Demand Prediction

Prediction services are one of the largest benefits of big data. Given the vast resource of information available through big data, it is now possible for a retailer to predict the sales prospects of a product and how it will fair in the market. All this is based on historical data of the products’ performance in your business as well as that of other retailers. Services like Amazon Web Service (AWS) analyze customers’ shopping habits and their browsing habits to achieve this.

Personalized Business

Using behavior tracking services retailers are able to understand the personal preferences and purchase patterns. This data is further leveraged to customize ad placements and products displayed by retailers on e-commerce websites. Personalized stores display all the products that customers are more likely to buy and in most cases have been looking forward to buying. Such data is acquired by monitoring the customers’ web searches, the topics they are researching and so on. Automated recommendation for the product they are searching for is displayed on their browsers and on most websites they visit. Sometimes a cue for such a process is given when a customer first clicks on a particular product while just window shopping. In some cases, personalized offers are given to customers based on the various sites they are visiting to get the best deal. This prompts the retailer to offer a better deal for that customer. This also works quite well while scaling. The idea here is to always stay ahead of the curve. Coupons and promotional codes are also passed on to customers as part of this process.

Customer Service Optimization

The 21st-century business world relies a lot on customer service and support. A bad experience with customer service and support could lead to your business or product getting a bad reputation. Besides customer service today is also a marketing opportunity for selling accessories and additional supplies. Big data offers a clear view of the customers by providing vital information that could be used to enhance the customer service experience. Furthermore, with online transactions, mistakes occur often and some of them could cost dearly for both parties. Using big data a customer care professional will have access to all the information leading up to his/her interaction with the customer. This miscommunication can be minimized and a solution can be provided speedily.