Data-Driven Insights For Successful Commerce
It’s a data-driven world. Data insights can remove the guesswork so that you can be a successful retailer. Within your own data are all the clues you need to make better decisions for every aspect of your business, and we’ll help you make sense of it all – turning it into meaningful, data-driven commerce.
The Importance of Data and Data Analysis for Your Business
Accurate data is the key to success in every kind of commerce. Good data insights will help you make better decisions for every aspect of your business, increase sales, and establish a consistent and profitable revenue stream. We can help you make sense of your data and turn it into meaningful commerce strategies that are backed up by the numbers and trends.
In a data-driven world, businesses need to be able to make accurate predictions in order to stay ahead of the competition. Big data provides the answers to many questions that can help businesses make informed decisions. However, data alone is not enough – it needs to be accurate and timely in order for it to be useful.
There are many benefits to stronger and more accurate data analytics, including:
- Increased sales: Data can help you understand your customers’ needs and wants, as well as what they are likely to purchase in the future. This understanding can lead to increased sales and revenue.
- Improved decision making: Data can help you make better decisions about every aspect of your business, from merchandising to marketing to store operations.
- Reduced costs: accurate data can help you avoid costly mistakes. Avensia can help you make sense of your data and turn it into meaningful, data-driven commerce.
What are Data-Driven Insights?
Data-driven insights is the result of an analysis of structured and unstructured data that has been collected from a variety of sources. With these insights you can better understand how your customers engage with your products and services.
With this knowledge you'll be able to align resources to meet their needs in a way that will keep them coming back for more. Data-driven insight offers a means for spotting opportunities in under-served markets before they evolve into big competitors.
Together, We’ll Deliver Key Data-Driven Insights in Real-Time
Data-driven decisions have the ability to transform the fortunes of any retailer or B2B business. Data insights can shed light on every dark corner of your business.
Data insights will provide answers to:
- Which customers are most valuable?
- Which products are most profitable?
- Which traffic sources drive most revenue?
- What are the weaknesses in your supply chain?
White Paper: Your Guide to Omnichannel and E-Commerce KPIs
This white paper explores the emerging challenge of omnichannel KPIs, and what you need to consider when trying to find the right ones for your business.
A Data-Driven Focus Ensures you Make Better Decisions all Around
Typically, the issue in data-driven commerce isn’t getting data. It’s how you’re managing and using it. That’s where Avensia comes in to add enormous data-driven business value.
Our advisors and data management experts will get to know your current data set-up. They will ask the following questions to identify your goals;
- What do you want to find out from your data?
- What questions do you want to answer?
- What are your KPIs?
- What business decision do you want to be data-driven with better data?
- Which aspects of your commerce journey do you feel uninformed?
Most importantly, we focus on the business value you want to add from a data-driven strategy – and work backwards. Once we know your goals and KPIs, we can identify the right sources to get the data-driven insights you need to achieve them. Then, we get to work on ensuring your data quality is up to scratch.
We believe all discussions on improving sales should focus on three key areas: boosting traffic, improving conversions, and increasing the average order value. Data-driven insights are vital to achieving all three.
Ready to Get Some Data Insights?
With experience from hundreds of digital commerce and business development projects, we can leverage your unique selling points with a tailor-made strategy and best-of breed technology.
Find out how Avensia can help you fuel your business growth. Provide your contact information and we will be in touch very soon.