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Writer's pictureAlex nordvall

Where Businesses Store Data That Could Be Used to Make Smart Business Decisions


Running a business without analytics is like sailing a sailboat with a mast, which is exactly what I am doing in this picture. - Alexander Nordvall
Running a business without analytics is like sailing a sailboat with a mast, which is exactly what I am doing in this picture. - Alexander Nordvall

Having a lot of data and information is the dream of any data analyst; the more you get, the better it can support data-driven decision-making! 

And if you are thinking about exploring how you can use data in your business, then this article is for you!


Let's start with exploring where you most likely already store tons of data —from Google Ads and accounting software to ERP systems, CRM tools, email marketing platforms, and social media. 

Along the way, I will try to inspire you on how these sources of information can be used, and I'll bring some examples to keep things fun and hopefully interesting.


Data Sources

Google Analytics/ Ads: Unlocking Marketing and Web Insights

Google's different tools, such as Google Analytics, Google Search Console, and Google Ads, are a treasure trove of data for your online and marketing efforts. It offers insights into visitor data, visitor demographics, click-through rates, conversion rates, and customer demographics. All combined, you get a comprehensive view of how your ads and website are performing; you can even get it in real-time.

Example: Imagine you own a local bakery. You run Google Ads to promote your amazing cookie croissants. By analyzing the data, you discover that your weekend ads attract the most interest. With this knowledge, you can create targeted ads and promotions to drive even more traffic on weekends, boosting your sales. That way, you are now using your marketing budget wisely.


Accounting Software: Keeping Finances in Check

Accounting software like QuickBooks, Xero, or FreshBooks is essential for managing your financial data. These tools store information about sales, expenses, payroll, and taxes, making it easy to generate financial reports and make informed decisions.

Example: Let's say you own a trendy clothing boutique. Using QuickBooks, you regularly review your profit and loss statements and cash flow reports. You notice that custom orders and personalized styling services are the most profitable. This insight helps you focus your marketing efforts on promoting these services, increasing your profitability. You can also create customized reports with this type of tool; some of them also offer the ability to export data so that you can keep it and analyze it whenever and however you like. Some also integrate with third-party analytics tools, which can be awesome for analytics in a pinch. 


ERP Systems: Streamlining Operations

Enterprise Resource Planning (ERP) systems like SAP, Oracle NetSuite, or Odoo integrate various business processes into a single system. This includes inventory management, human resources, and customer relationship management (CRM).

Example: A growing organic food store adopts an ERP system to streamline operations. They uncover that delivery delays are often due to supply chain issues. With the ERP's integrated data, they can predict and manage inventory more effectively, reducing delays and improving efficiency. A "smooth" supply chain is the key for any retail company with the goal to grow.


CRM Systems: Building Stronger Customer Relationships

Customer Relationship Management (CRM) systems like Salesforce, HubSpot, or Zoho CRM store valuable customer data, such as contact information, purchase history, and communication records. This helps businesses enhance customer service and personalize marketing efforts.

Example: Picture a popular local spa using Zoho CRM. By analyzing purchase history, they identify trends in customer preferences and send personalized recommendations and promotions. This personalized approach increases customer loyalty and boosts sales. 

The best service is no service; if you can use data analytics to remove "pain points" for your customers, they are more likely to be satisfied with your product and return over and over agian. 


Email Marketing Platforms: Engaging Your Audience

Email marketing platforms like Mailchimp, Constant Contact, or Sendinblue help businesses store and analyze data on email campaigns. Metrics like open rates, click-through rates, and conversion rates provide insights into what resonates with your audience.

Example: A small artisanal coffee shop uses Mailchimp for its monthly newsletters. By examining the data, they find that emails featuring brewing tips and exclusive discounts have the highest engagement. This insight guides them to create more engaging email content, fostering a loyal customer base. It's all about creating value for your customers!


Social Media Platforms: Enhancing Brand Presence

Social media platforms like FacebookInstagram, and LinkedIn offer robust analytics tools that track engagement, reach, and audience demographics. This data is crucial for refining your social media strategies and enhancing brand visibility.

Example: A boutique fitness studio uses Instagram to connect with its community. It notices that posts featuring client success stories and workout tips receive the most interaction. This helps them create more engaging content, attracting new clients and retaining existing ones.

Bring success to the business by showcasing the success their business brings its members.


Bringing It All Together: The Power of Integration

The key to smart decision-making lies in integrating and actually using these data sources. (They are wells of knowledge!)

If you like to get customized insights with reports and dashboards of your own, then tools like Google Looker, Microsoft Power BI, or Tableau can help you combine data from various platforms. With customized reports, you can explore and analyze data from multiple apps/systems at the same time. Following the orders from your website to your logistics system and then track payment from the accounting software. 

More sources = more knowledge! 

Example: A cosmetics company integrates data from Google AdsIntuit QuickBooksSalesforceIntuit Mailchimp, and Instagram using Power BI. This view reveals that their most loyal customers are those who engage with their brand across multiple channels. Focusing their efforts on these high-value customers, they see a significant increase in sales and customer retention. The key to good analytics is finding patterns and acting on them.


Conclusion

Storing and analyzing business data is not just a "thing to do"—it's a necessity for any business looking to take place in today's competitive market. By leveraging tools like Google Ads, accounting software, ERP systems, CRM platforms, email marketing services, and social media analytics, you can make informed decisions that drive growth and success. Whether you're running a local bakery, a clothing boutique, or a fitness studio, you should "use the forces" of data and see how your business reaches new levels! 


If you like this kind of article, please follow me because there will be more just like this one. 


Spread knowledge, love, and smiles! 

Take care, and I'll see you around.


Best Regards. Alexander Nordvall Northwall Consulting

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