Knowing Yourself: How to Boost your Business with Data Analysis
How well do you know your business? Are you putting your data to good use to ensure you understand how to help your business grow?
At Lunar, we believe every business owner should regularly get to know their business better as it grows and evolves. Knowing your business inside and out is the key to gaining an advantage over the competition.
How Well Do You Know Your Business?
First things first, it’s important to realise that knowing your business is more than just acknowledging the brand message, the tone of voice, your employees’ hobbies etc. To truly understand our own businesses, we need to understand the trends and we need to be able to pinpoint accurate representations of the business’ movement at any possible time.
Thankfully, we don’t live in Aristotle’s time, and whereas knowing yourself can still be a challenge, knowing your business isn’t, thanks to the technology on offer.
Now, we can accurately pinpoint specific data points, analyse said data, and create strategies or form decisions for the business based on actual information. What’s more, we have unprecedented access to understanding the trends within the organisation – the ebb and flow of customer interest; what works and what doesn't.
Riding the Wave
The trends mentioned above are of particular interest. The full extent of that information is completely unknown to your competitors, providing an exclusive advantage. Trends can include what products or services your customers are choosing (and whether any factors, such as season, influence that decision), the amount of time spent by employees on certain calls or customers, and which services are creating the best ROI.
By utilising an at-a-glance dashboard and top of the range reporting features, business owners can spot every trend in their business and ensure that the organisation rides the wave to its benefit.
What’s more, trends can also provide answers to some of the questions which arise whilst building a business strategy. They can provide hints as to which direction a business needs to go in, and whether or not an idea is of any use based on data and factual information, rather than estimation and relying on the market.
Listen to Your Business
The key point we want to make here is that it’s absolutely essential to listen to your business – to know it properly – in order to get ahead and forge a successful path. But whereas all of this is achievable with a computer and an iron will, there’s room for human error – which could undermine the entire practice.
Instead, rely on a bespoke CRM solution with tailor-made reporting features and intelligent dashboards, providing you with a snapshot of your business at any given time, and all the insights you need to spot those trends.
Once you know your business inside out, then you can really start to shine – and make your wisdom known.
Lunar CRM creates bespoke CRM solutions for businesses looking to know themselves better. With features such as a highly configurable reporting system and visual dashboards, our solution is ideal for gaining an insight into your business. To find out more, feel free to explore our website or get in touch to book a free demo.