Small business owners are often so busy filling orders and dealing with problems that they don’t have time (or perhaps the necessary skill set) to thoroughly track and analyze data that can be vital to the long term success of the business. For example, analyzing customer data to identify the cost of acquisition and the most profitable customer demographics (age, gender, location, etc) can lead to much more efficient use of marketing dollars to maximize return on investment.
The “80:20 Rule” states that in most businesses 80% of the profit comes from 20% of the customers. If you’re not tracking and analyzing your sales data, there is a good chance that your business is spending a significant amount of time and energy dealing with the 80% of customers who are not providing much profit, rather than focusing on attracting more top-performing and highly profitable customers.
There are countless examples of how data analysis can help a business, but not everyone is prepared to spend hours manipulating data in excel sheets to produce ACTIONABLE data reports with clear conclusions. That’s where I come in.
Learn how Data Analysis Consulting can help you in your unique situation. The first 1 hour of consultation is FREE and carries no strings or obligation! Just send a quick message via the Contact page for a fast response.