When you’re running an online business, it exists right in the middle of a restless information highway. All kinds of data is moving constantly back and forth, and more often than not it’s simply going to pass you by. The key to making use of all this data isn’t trying to grasp it, but pinning down the data you need, separating it from the surrounding static, and then applying it to your overarching goals. If you’re finding analysis challenging, then here are some ways to hone your data analytics skills.
First of all, make sure you’re paying attention to the right data. With the massive concentration of data which modern companies have to crunch through, it can seem like the easy option to throw it all on a single graph and compare it as it stands. Sure, you’ll be able to see all the numbers in one place. However, you’re not going to get a lot of insight if you analyze things in this way. It’s a big mistake to compare metrics from different devices and different social media channels through the same graph, or something similarly convoluted. Plonking all of your data in the same place like this will give you some insight. However, that insight won’t be doing you any big favors. Always make sure you’re segmenting data that’s on the same level of relevance within a single graph.
Another great way of improving your analytics skills is by constantly applying what you’ve learned to something specific. When anyone says they’re looking to learn data analytics, the pros will bring this point up again and again. As I’ve said before, you’re going to be dealing with countless facts and metrics. The more experience you have of recognizing what’s applicable and what isn’t, the more confidence you’ll have when handling data in the future. The main point here is to be as specific as possible, and hone in on one issue. Let’s say you wanted to do some analytics to make some decisions about a new marketing budget. This is directly linked to how much your customers are worth to you, so you should focus on learning about your current customer base.
Finally, make sure you’re laying out and organizing your data in the best way possible. When you culminate a lot of data, it can end up as huge, jumbled mass of information. When you’re trying to analyze it, find patterns in all the chaos, and show your findings to other people in the business, you’ll need to make it all easy to digest. The way you present and organize all your data will have a big impact on the way it’s ultimately applied, and the more you hit the nail on the head the easier it gets. Find out whether it’s best to look at the daily, weekly or monthly figures for a certain metric. Present your data in the wrong way, and you could end up exaggerating minor issues, or brushing over problems that you should be paying more attention to.