Ways to Improve Sales via Big Data Analytics and Cleaning
The Buzz Word- Big Data Analytics and Cleaning
Big Data Analytics is most definitely the ‘Buzz word’ in today’s marketing realm. More and more companies are shifting their focus to Big Data Analytics because of its long-term tangible benefits. Data is irrevocably the most critical asset of any business. Companies are now shifting their external and internal data on cloud which is making database management system more systematic and concise. Though, with greater power comes greater challenges and mining out useful data from the huge chunk of data is no easy task.
To combat the challenge of mining useful data, businesses are employing techniques like BI (Business Intelligence) and Analytics. Business Intelligence is a series of processes, frameworks and technologies that convert raw data into useful information to bear fruitful outcomes for the business. Business Analytics is an iterative method of statistically analyzing the patterns in data to make data-driven decisions. No major business in today’s time is untouched with Business Intelligence and Analytics. Even the small to medium businesses are painting their hands red with Big data Intelligence and Analytics.
Can you afford to not use Big Data Analytics and Cleaning ?
Well the answer is a big NO. Gone are the days of traditional database management where each record was maintained in a tabular form with no actual ordering and logic. If you, as a business, want to thrive in today’s competitive landscape, you are ought to go big or perish. For successful analytics you need to have a crystal clear picture of your data. Therefore, data cleaning is the first and the most important step in Data Analytics.
Big Data Analytics and cleaning are also crucial to generate sales of the company. By employing these two techniques, the company can make data- driven decisions which can improve the sales of the company and help it grow. It also helps in taking more-informed decisions regarding marketing techniques among others. The company can choke-up a fool proof plan for its future with the help of Big data analytics and cleaning.
Data cleaning the most important part of Data Analysis
According to 50% of the Data Scientists, Data cleaning is the toughest and most crucial step in Data Analysis. Data Cleaning is not an easy task and requires a certain level of expertise. That is why many companies outsource this task to us.
In a popular survey, where data professionals were asked to rate the importance of steps involved in Data Analytics and also rate their complexity, a staggering 50% of them rated Data cleaning.
Thus, Data cleaning holds the undisputed importance among the entire process. However, once you have clean data you will be unstoppable. You can generate sales easily and have a flourishing company. But before setting up the bars too high, let’s dwell into 5 ways that can improve Sales Via Big Data Analytics and Cleaning.
Clean incoming data at Entry point:
Cleaning data at entry point is the most step in achieving standardization of data. There are so many gateways for capturing data, for example: web, telemarketing, surveys, polls etc. A good company uses all the possible techniques to gather data from multiple entry points. Therefore, they have data coming in from several entry points. Thus, to clean incoming data at entry point, you must:
- Know The Data Entry Points: Obviously, you need to first identify the several entry points from which the data is coming in. Once you are aware of all your entry points, you can start cleaning the data at Entry point itself.
- Set your Data Standards: Once you know your entry points, it is also of primal importance to set your data standards. Afterall, you can’t accept dirt even if it is coming from a great source. You need to have a standardizing matrix which filters out the not required data at the entry point itself. Translating data in a standard form will help you a great deal in the actual cleaning process.
- Begin the Cleaning: Now you can clean the data right at the entry point. For example: You can verify the email addresses, phone numbers of clients when he first makes a purchase and double check them by using solutions from companies like zerobounce and BizProspex.
Find a Pattern where you are generating most Sales:
Now that you have your entry points guarded and analyzed, you need to find a pattern where you are generating most sales. You can find patterns by doing the following analysis:
Kindly note: According to the need and relevance the analysis can differ from business to business.
- Country-Wise Analysis: One probable way of analyzing and finding pattern can be according to the countries. We can also call this type of analysis as analysis based on demographics. You can sort your customers according to their geographical location and find which area is generating more sales. Companies like BizProspex also help other companies in analyzing the leads.
- Industry-Wise Analysis: Other way can be Industry-wise Analysis. You can sort your customers according to their Industry and find which industry is generating more sales. Industry wise analysis is usually used by large B2B companies where the clients are not individuals but group of companies. Nevertheless, depending upon the need many small companies can also use Industry-wise Analysis.
Check conversion actions via Google Ads and WooCommerce:
Google Ads is the most effective way to advertise and market your service or product in order to increase sales and revenue. The good news is Google Ads can now be easily expanded with your WooCommerce plug-in which can make so many lives a lot easier.
Check conversion actions via Google Ads and WooCommerce/ Shopify types (store management solution) that provides sales analytics data, if it matches, your Google Ads are performing well, if not, try to find loopholes via data analytics in excel or other tools available online. There are so many tools available in the market today that are especially made for the purpose of checking the conversion actions via Google Ads and WooCommerce. If your Google Ads is working smoothly, you have a greater chance of generating sales for your business. After all, it is always the little details that makes a huge difference in the end.
Sales/ conversion actions should match your CRM
Now that your Conversion actions are cross-checked and verified, you must ensure that your sales/conversion action is matching with your CRM. If not, match it across Google Analytics data and cross ref. it back to actions being taken by clients on your portal. Every little analysis or changes done at any level should be reflected in your CRM for complete synchronization. Thus, by matching sales and conversion actions with your CRM, you are getting a step ahead in your process of Cleaning data and analyzing it to make informed and Data-driven decisions. You must have a calculative knowledge about all your conversion actions and match it with your CRM. There are several tools readily available online for this mere purpose. You can also use solutions offered by BizProspex to match your conversion actions with your CRM.
Use Big Data to predict Sales
Lastly, use Big data to predict sales. Big data can help you a great deal in analyzing past events and then make predictions for the future events and deduce the future outcomes. Of course, it is not as simple as it sounds. Analyzing Big data requires a lot of expertise and tools along with powerful softwares. However, the impact that Big data produces on sales is also HUGE.
These are the ways in which Big Data can prove helpful in predicting Sales:
- You can find Sales Qualified Leads: With the help of Big data you can find sales qualified leads easily and comprehensively. You can use such finding in generating ideal customer personas for your buyers based on their geographical and other information. This can help your sales team target the leads in a better way.
- Predict Customer Behavior: You can also predict the customer behavior with the help of big data. Past customer purchasing behaviors can be analyzed easily when you are powered with Big data technologies. You can use these finding in order to devise a favorable marketing campaign as well.
- Segment and target Email Campaigns: In a higher form, you can use Big data Analytics to segment and target email campaigns. You can figure out which email marketing campaign is doing well and how? You can thus maximize your open rates and reduce the bounce rate with the help of Big data Analytics.
- Generate Customer Personas: With the help of Big data Analytics you can generate ideal customer personas which can help you target leads and convert them. Big data Anaytics can thus be used to predict the sales of your company.
The bottom line
Big Data Analytics and cleaning can improve your sales a great deal. Without these techniques, it is quite difficult to stay relevant in such a throat cutting competition. To prove as your arms, we at BizProspex provide you all these services a comprehensive price. We are a data mining company and specialize in anything and everything data. We offer services like CRM cleaning, Email appending services , data mining services, data appending, data scrubbing, web scraping service, skip tracing services to keep you forefront and up ahead in your business. For more details on who we are and the services we provide, contact us.