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How To Turn Data Into Actionable Insights

How To Turn Data Into Actionable Insights (Expert’s Tips)

Do you want to turn data into actionable insights? If yes, just sit tight and read this post carefully.

You can get lots of data from analytics, but the important thing is how you use that data to make efficient and optimized decisions for your business. These decisions can have a measurable impact on your business and increase its growth.

According to research, 30% of people in the marketing field use analytics software available to get big data. But they are unable to make sense of big data. So, the demand for professionals increasing day by day who wants to use data for actionable insights.

The whole team of a company should focus to find what data is helpful and how it improves operations and efficiency of the company. They need to perform processes like data filtering, segmenting, and grouping which is helpful to understand data.

In this guide, you will know about actionable insights in detail and about the best practices to turn data into actionable insights.

Key Contents of this article:

  • What are actionable insights?
  • What is data analytics?
  • Difference between data and insights
  • Advantages of Actionable Insights
  • Attributes of Actionable Insights?
  • How to transform data into actionable insights

What are Actionable Insights?

an example of Actionable Insights

Actionable insights get you important and meaningful information from the data of your business. It suggests the actions you need to take to get better results.

Understand from an example, if you own an eCommerce business and you are not getting sales, then you use Google Analytics to find out the problems, then improvements and actions suggested to get better results are actionable insights.

So, in simple words, we can say actionable recommend actions to solve the problem to get better results and increase the performance of the website.

What is Data Analytics?

an example of Data Analytics

With Data Analytics, you can analyze raw data to discover patterns, and make conclusions about the information. The processes of data analytics are automated in mechanical processes and algorithms.

But keep in mind, that data without analytics does not make sense. We prefer data analytics to know the value of data and a better understanding of insights and discover trends and patterns to make business more successful.

Difference between Data and Insights?

First of all, let’s know what data is? Data is simple information and can be in any form that we get from our systems. This is as information of a college student about its name, class, roll no., college name, etc. So, we can say this is the data of a student.

On the other hand, we get insights after analyzing data. Insights tell us about the performance of the business and suggest actions and improvements that need to be done to make the business more efficient and successful.

Advantages of Actionable Insights?

You can use actionable insights get from the analytics for the growth of your business. There are some main benefits you will get from actionable insights.

1. Boost Customer Experience

With actionable insights, you can get all the performances and their problems in business. So, you can also find that how customers is interacting with your business.

If they are getting some problems then you can improve it to provide a better customer experience that helps to retain existing customers and increase the growth of a business.

2. Build Trust

You can build trust by helping the customers in their everyday life. You can help them financially to make more savings instead of more spending.

With the help of actionable insights, you can track their expenses and recurring payments and alert them when there is a big amount transaction to ensure that they really want to do that big amount transaction.

When you will do care for your customers in this way, the customer will find that you have got their back and you are more helpful to them. As a result, a bond will create between both of you.

3. You can take better decisions

Decision-making is very important for a successful business. It also depends on the information you got to help your business. So, with actionable insights, you can take better decisions that actually help to get results.

4. Improve your marketing strategy

Marketing is very important for every business to grow. Without launching a marketing campaign, we can’t get the growth in our business that we actually want.

Actionable insights give the data about the performance of your marketing campaigns and you should invest more money in those channels or platforms that are driving more sales and conversions for you.

5. Increase Sales

Actionable insights actually help to increase your sales in an effective way. The reason for that is when a customer gets more connected with your business, then they are always excited to get new offers and discounts.

By using the data and actionable insights you can find out quickly which customers want which product more and what are their budget. So, you can build a strategy to target the customer to get conversions.

Attributes of Actionable insights

There are some main attributes of actionable insights you need to know.

1. Context

You can find if you have more details to not allow insight to ask more questions than answers.

2. Novelty

You can check if your business has a familiar trend and can be covered by insight.

3. Relevance

This is very necessary for insight to offer meaningful and relevant information by which you can take better decisions for the improvement of your business.

4. Alignment

Check for insight related to your business or not. Key performance indicator requires a sense of urgency so check whether the insight is based on it or not.

5. Clarity

Is the data provided by insights can easy to understand by the organization team and how It helps to grow business.

How to Transform Data into Actionable Insights?

The process of transforming data into actionable insights can be difficult but not impossible. To help you we have listed some useful tips by which you can easily get it done and link data to actionable insights.

1. Use the best tool to get actionable data

With the right analytics tool, you can easily convert data into actionable insights. There are lots of analytics tools available which ensure to give complete and accurate data. But without using them we can’t say if they really work like that or not.

Most businesses use Google Analytics to capture and analyze data about marketing leads and revenue. But in my opinion, it doesn’t give complete information to find out which marketing campaign performs better.

So, you can use Ruler’s marketing attribution which provides complete data. By knowing which campaigns help to generate more leads, then you can invest more time and money in that campaign to generate more leads for the growth of the business.

2. Say the Right Questions

This step is very essential to know what you are looking for in the data? When you are going to do data analysis then ask the right questions, then you will find the answer and get the data that are relevant to your business. This step is a must to spend lots of time and find unuseful data from data analysis.

3. Choose your Goals

You need to select a goal for your business first. After that, you can easily do an analysis. Without a goal, you cannot get data that is actually relevant to your business. Most of the data looks good while analyzed but they don’t mean anything for business.

So, to get actionable insights that completely depend on the right data, get a business goal. You can discuss it with your team and do an analysis. As a result, you will get actionable insights from data analysis which are really needed for the growth of the business.

4. Take the help of visuals to find the right data

You can use graphs and charts to find insights from data analysis. With visual graphs and charts, anyone can easily understand all the aspects of data analysis.

It is also confirmed that people learn more from visual content, you can also use visuals if you aren’t able to understand data properly.

With the help of visuals, you will find the data which is helpful for you and can create a report quickly. The remaining time you can spend on the other important tasks for the growth of a business.

5. Use context

Last but not the least, you should create the report in the form of context, not in the form of a simple story. Because the report about a digital marketing campaign that is properly contacted can be easily understood by the clients. So they will give you more work like this.

You can use these contexts while creating a report:

  • Who
  • What
  • Where
  • When
  • Why

This is a simple, effective formula to create a report of data about business performance.

Lots of marketing professionals also use this formula for reporting and getting actionable insights. Believe me, data is the first part and the main part is how you show it, create it, and utilize it for the growth of your business.

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Conclusion

You can easily convert data into actionable insights by following the tips we listed above. This is very important to take effective and right decisions to improve the mistakes and errors occurring in your business.

Both data analytics and actionable insights which are different from each other are compulsory. Without one of them, the other is unuseful. You can use analytics tools to perform proper data analysis of your business to make some improvements.

We hope from this article you got helpful information to grow your business. We will be back again with the next topic.

Frequently Asked Questions

Which is the best tool for data analysis?

According to us, Ruler’s marketing attribution is the best tool that provides complete data insights. You can use those insights to make some improvements for the growth of your business.

What are the main advantages of actionable insights?

The main advantage of actionable insights is that it helps to improve marketing strategy and increase your sales.

How visuals are helpful to turn data into actionable insights?

With the help of visuals, you will find the data which is helpful for you and can create a report quickly. The remaining time you can spend on the other important tasks for the growth of a business.

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