Harnessing the Power of Data & Analytics

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| Posted on | JTT - SEO

No matter what business vertical you’re in, data plays an important role. It’s generated by every facet of your operation, and can help to inform real-time decision-making, give shape to more effective strategies in both the short and long-term and streamline your operation as a whole. It’s also the most efficient means of assessing the success of your digital marketing strategies and, as this series continues, we’re going to give you a closer look at what that process might look like. 

There are all kinds of data visualization tools out there. Some user-friendly tools, such as those served up by Facebook and Youtube are offered at no charge and offer a range of valuable insights. Google Data Studio is another example of a resource that offers unique value to both the layperson and the seasoned expert. And of course, there are tools out there that are designed for full customization, and are available for subscription or purchase. 

But let’s not get ahead of ourselves. Let’s lay the groundwork for this series, by discussing some of the fundamentals of Data Visualization and Analysis; a process which traditionally begins with two different stages: Exploratory and Explanatory. 

Think of the Exploratory stage as your behind-the-scenes work. It includes your early hypotheses, data collection and sorting. It represents everything that takes place before you begin to prepare your findings for presentation to your intended audience. 

The Explanatory stage is where you translate your findings into a concise context that will be easily digestible by your audience. It requires a clear understanding of the intent, and a willingness to eliminate anything that might confuse or distract from it.

When analyzing data, we like to ask three important questions: Who, What and How? By understanding WHO our audience is, WHAT the purpose of our analysis is and HOW it will best be presented we can keep ourselves from getting bogged down by the minutiae. As a general rule, we like to think of our presentation as a 3-Minute Pitch. If we can’t present a high-level summary within three minutes, we’re presenting too wide of a view. Of course, we’re always be prepared to dive deeper as needed for follow-up questions and conversation.

Now that we’ve introduced some of the fundamental terminology of data analysis, be sure stay tuned because we’ll be diving a lot deeper in the weeks to come. If you want to read the transcript of today’s video, go ahead and click that link. Then join us next Thursday, and every Thursday for more digital marketing insights on ‘Just the Tip’.

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