digital technology

 

 

In a constantly evolving business environment, and with ever changing customer behaviors, a team’s intentions must be bold to strategically innovate. The objective is to scale with purpose, capitalize on opportunities, use data effectively, and instigate both engagement and action.

Let us look at the ‘how’.

Research and Data Exploration

First, identify where your target audience spends time and earnestly research the ways they express interest and enthusiasm.  Examine their buying habits and analyze purchasing preferences.

Through a deep dive into customer buying behaviors, along with their information-seeking activities, you’ll capture valuable insights, keywords, and decision-making factors.

Following the research, prioritize your projects, resources, and budget based on the channels that have the attention of your customers.

Core Digital Channels

  • Search Engines
  • Website / Landing Pages
  • Mobile App
  • Digital Ads
  • Blog
  • Email
  • Video
  • Social Media
  • Mobile, Wearable, and IoT Devices
  • Influencers
  • Online and Retail Stores
  • Marketplaces
  • OTT/CTV
  • Resources (eBook, Case Study, Guide)
  • Text, Chat, Voice
  • VR Spaces
  • AI Experiences

With so many potential touch points, your strategy must be data-driven and data-informed. Through the lens of business intelligence, build campaigns that align with buying trends and customer sentiments.

It is also essential to be knowledgeable of challenges across the digital landscape.  Structure your strategies and testing program with an accurate view of these obstacles and hindrances.

Continue reading “Core Requisites for Digital Commerce Success”

big data with colorful graphic

 

While a broad term, Business Intelligence (BI) has a wide scope of significance involving data, processes, performance, and measurements. BI is the means and infrastructure used to aggregate, maintain, and analyze data to develop business strategies and operational efficiencies.

Leaders utilize BI to improve decision-making and target activities.

BI answers monetization questions, such as:

  • What happened?
  • Where and when did it happen?
  • How often?
  • What is the trend?
  • What should we do based on what happened?
  • What potential optimization can be made?
  • What action can we take to boost performance?

There are a range of data tools that fall under BI including mining, analytics, visualization, benchmarking, reporting, warehousing, and technology-driven planning and processes.

In all instances, data must be prepared before being applied to a tool effectively. 

Data Readiness

  • Extracting and Provisioning
  • Compiling and Cleansing
  • Standardizing and Formatting
  • Parsing and Structuring
  • Eliminating Errors or Anomalies
  • Grouping and Clustering
  • Storing and Securing

 

Continue reading “Mastering & Leveraging Business Intelligence”

digital strategy and innovation

 

Attentive, attuned, and analytically inspired digital leaders closely monitor sales and cost metrics, qualitative and quantitative stats, and KPIs (Key Performance Indicators). More broadly referred to as ‘data’.

There are known challenges with data collection, preparation, and validation including:

  • Data overload
  • Data stability
  • Assemble and prioritization data
  • Preventing omission of key data points
  • Organization of data to make it usable
  • Taking advantage of data visualization for optimal consumption
  • Gaining insights that can be tested
  • Craft a roadmap for maximum output based on data
  • Pivoting within a plan or shifting an objective due to data outcomes

Prevailing strategies are architected using business intelligence – this is owned data, sourced from customers, sales, performance, operations, marketing, social media, and industry trends.

Types of Data

Structured, Semi-Structured, and Unstructured

Transactional

Hierarchical and Ordered

Text and Meta

Qualitative and Quantitative

The “V” elements of data are variety, volume, value, velocity, veracity, and variability.   When handling data, pay attention to each of these characteristics.

[Step 1]  Utilize a Powerful Digital Dashboard

Creating an impactful plan of action starts with data visualization from charts, pies, tables, and other graphic representations of data.

When selecting a dashboard tool, here is a checklist of key features:

  • User-friendly, high performing interface
  • Intuitive navigation menu and filters
  • Contemporary cards, charts, and forms
  • Wide variety of pre-set templates
  • Multiple layout options
  • Fast-loading import / export feature (multi-file upload is a bonus)
  • Customized views for different types of users
  • Easy widgets to add new tables and elements to a page
  • Tooltips, bookmarks, notifications, and alerts
  • Calendar, email, and to-do list features
  • Data authentication and identification of errors
  • Editing tools
  • Suite of reports with automation capability
  • Color, font, and background controls
  • Interactive with popular platforms and plugins
  • Cross-browser compatible
  • Mobile friendly and fully responsive

Continue reading “Mastering the Deluge of Data”