{"id":35969,"date":"2019-10-14T07:43:56","date_gmt":"2019-10-14T05:43:56","guid":{"rendered":"https:\/\/www.getsmarter.com\/blog\/?p=35969"},"modified":"2025-09-19T15:03:44","modified_gmt":"2025-09-19T13:03:44","slug":"how-to-improve-your-business-using-analytical-data","status":"publish","type":"post","link":"https:\/\/www.getsmarter.com\/blog\/how-to-improve-your-business-using-analytical-data\/","title":{"rendered":"How to Improve Your Business Using Analytical Data"},"content":{"rendered":"\n

The application of data analytics can seem frightening at first.1<\/sup> Imagine this scenario: Amy was browsing online shoe retailers the night before an important client pitch. The next day, she opens a website to illustrate a point, and the ad stream is peppered with all her favourite shoe shops. She snaps her laptop closed \u2013 embarrassed that her personal preferences are being stored for marketing purposes.2<\/sup><\/p>\n\n\n\n

Leveraging big data to improve business opportunities is not a new concept. When you look back at Google\u2019s roots, their PageRank algorithm was a major success that allowed them to position themselves as the most user-friendly search engine available.3<\/sup> The PageRank function presents the best results to the user by organising an inordinate amount of content. This simple concept tapped into big data, and it was the beginning of a corporate empire that would keep building on a winning formula.<\/p>\n\n\n\n

According to senior partners at McKinsey, \u201cIn an increasingly customer-centric world, the ability to capture and use customer insights to shape products, solutions, and the buying experience as a whole is critical.\u201d4<\/sup> As the number of people who create data keeps increasing, so does the value of their collective data. <\/p>\n\n\n\n

The Google of today has reached new levels of sophistication: it uses data to teach artificial intelligence (AI) models how to translate many languages, and builds personality profiles of potential customers.5<\/sup> The more data, the more the AI learns. <\/p>\n\n\n\n

Fortunately, most leading companies have been quick to incorporate big data analytics<\/a> into their business models. NewVantage Partner\u2019s latest Big Data Executive Survey offers insights into 50 Fortune 1000 companies:<\/p>\n\n\n

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As a result of the growing demand for big data insights, these data analyst professionals<\/a> are in short supply, and the gap is widening.14<\/sup> There is an urgent need for professionals to upskill and adapt existing analytical skills to meet a growing demand. Coding expert and educator Laurence Bradford explains that while data specialists are an essential business asset, data touches many different roles in a business. \u201cData isn\u2019t used in a vacuum, [so all] employees need the literacy to handle it effectively.\u201d15<\/sup> Companies can assist by creating data literacy programmes and by providing continuous development for employees to remain relevant in a world increasingly led by data insights.16<\/sup><\/p>\n\n\n

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