I have increased my business 5 times through data analysis


Today, the business world is very competitive. I do not come from a business family. Firstly, I started my career on the tech side. I learned about coding, and at that time, I worked as a web developer. Then, I realized that I needed to start a business. So, I have 3 years of business knowledge. In the last 1 year, I worked on data analysis for my business, and then I gained some advantages from my data.

If you have a digital business, then you must understand your data well. Doing data analysis has helped a lot in my business. And that’s why I will share my practical experiences here.

Getting to Know My Business Customers

The product I used to sell in my business was a physical product. But I had many competitors in the area where I set up my business. My business was a digital business, and most of the competitors were permanent stores. At that time, I didn’t realize that so many people were visiting my website or my Facebook page, but still, my product conversion rate was very low. And in this case, when I analyzed my Google Analytics data and Meta Ads data, I realized that my products had some problems that permanent stores could solve.

I worked on my product development, made price variations, and effortlessly my business started growing. This entire work was done only by doing data analysis to solve my business problems. I am talking about my experience. I have sold more products in one month after data analysis than what I could have sold in six months.

Knowing about Google Ranking by Analyzing SEO Data

You must know that if a website is in Google ranking, then you don’t have to spend anything extra to get traffic. And business continues to develop very well. I am an SEO expert myself. I think if you analyze your SEO data, then you will know about the ranking factors of your website.

Better Ad Campaign

I don’t run many ad campaigns for my products, but I do run ads to create specific offers. However, the ad copies I use are related to my product, but not to make my audience 100% interested. And I can understand this whole thing by analyzing my data because at that time, there was no problem with my product, but after seeing my ad copy, people came to buy very few products. Later, I changed my copy.

Product Cost and Management

When I started my business, I did simple market research and made product cost and product management. But I had many competitors in the area where I set up my business. My business was a digital business, and most of the competitors were permanent stores. So they are my business’s big challenge.

That’s why when I do product analysis, I readjust product management and product pricing so that I don’t have too much distance with my competitors.

It was my business plan to go my product is very simple, and most people are good with my product. Data analysis is the primary thing for every business word. In my personal and practical experience, understanding data is more helpful for our business.

Benefits of Data Analysis

I think at this stage, you know about the benefits of data analysis. So I share some key points with you. Analyze data to understand customer behavior, marketing effectiveness, operational efficiency, etc. It’s all a part of informed decision-making. Then you know all things about Improved Targeting like Data helps identify high-value customer segments. And lastly, a business understands about Reduced Costs, which help you identify areas for waste reduction and streamline processes based on data insights.

Getting Started with Data Analysis for Business

I have shared my entire practical experience in this article. Based on this, you can analyze your business data by following these steps.

  • Identify Goals: What aspects of your business do you want to improve?
  • Data Collection: What data do you currently collect, and what additional data might be useful?
  • Data Analysis Tools: Explore free or affordable options to get started.

Conclusion

Overall, data analysis is a valuable tool for business growth, but it’s not a magic bullet. But it is true that by doing data analysis, you can fully understand your data. Then you can take your business to several times more development phases.

If you need to analyze any such business, then you can definitely talk to us to know about the data. Stay with us, thanks.