Business Intelligence is the practice of collecting and analyzing mountains of data to determine current business success, opportunities within the current market, and forecast potential opportunities and options that will benefit the business over the long term.
Collecting data for business intelligence purposes can be time consuming and expensive; however, there are important rules for getting business intelligence that allow you to reduce costs and obtain the most relevant data. Continue reading →
Reading between the lines with your survey data should not be necessary, but it is a reality that every business must face. Even with the most well developed surveys there is always the unfortunate reality that customers are not filling them out accurately to provide you the information you need to improve your business and generate increased success. Continue reading →
Survey data is one of the easiest forms of data to obtain to rate overall customer experience and satisfaction so you can make beneficial changes to your business. Whether your business is brick and mortar, online, or both, you can gear your customer surveys to ensure that you gain the data you need to improve product or service quality, improve customer service, maintain market share through competitive offerings, and improve the overall level of the customer experience. Continue reading →
With all that marketing data available you would think that every company would be successful; unfortunately, sometimes they miss the mark. Chances are they weren’t getting the right marketing data or they misinterpreted what they had. Let’s take a look at two technology related companies. One that read the data right and one that missed the mark.
Apple, Inc. has created brand loyalty and great success through their marketing campaigns and product development. They have been able to do this for two reasons. Continue reading →
Acquiring good customer data is only one ingredient in “the sauce” for successful marketing, but you need to realize that it is just the base ingredient. Through surveys and demographic data, you can gain the foundation that will allow you to make informed decisions on which direction to go with your marketing strategies. However, savvy entrepreneurs and other business professionals understand that they need to trust their instincts and creativity to develop a successful and effective marketing strategy. Continue reading →
You have the perfect product or service that you know everyone needs, but sales just aren’t were they should be. Chances are you don’t really know who your customers are. When bringing a new product or service to the market, or attempting to expand your market share, you need to carefully consider a deluge of demographic data to ensure profitability. Continue reading →
Information is the prime asset of enterprise, the departure point for all decisions leading to product innovation, marketing strategy, and ongoing competitive advantage. IT generates an abundance of business information; the problem is selecting data most useful to your enterprise purposes and using it to devise suitable long-term objectives. Data driven decision-making is based on big data analytics, which particularizes and coordinates enterprise-derived information towards specific organizational objectives. Analyzing large data-sets for assessment of strategic performance is the current best practice technique of enterprise decision-making. Continue reading →
Latent variables are variables that are not directly observed, but are inferred through other data. Once data is accumulated it is typically presented through the usage of oval diagrams.
Latent variables correspond to real current physical aspects. For example, when a store determines where to place products on shelves next to other products that were observed to be bought together by most customers, this can be considered latent variables within survey data. Continue reading →
When customers want to feel effective, they can be motivated to take customer research surveys. The easier it is to do this, the more likely they will be to fully comply. The more compelling the invitation to participate, the more likely it is you will get the results you need.
Just as surveys give information that improves results, surveys that follow specific guidelines have more chance for capturing the necessary information. Design template choices can be pivotal for specific results. As with most things, the simpler it is to comply, the more likely it is you will get your needs met. Continue reading →