Analyze Your Market

Data Analytics-Extending the eyes and ears of business enterprise

How well do you know your customers? Or do you know where they are? Well, if you have been in business for some time, you would invariably know your customers. If you run a big business, then you might not know too well but still, it would be a great advantage to know where your customers are. Certainly there are ways to find out about your customers but thus far, it is not part of the system. In future, and perhaps not too far off, the CEO will have at his fingertips how many customers came in for the day, and also how many shown interest but did not convert. He might also be privy to the whereabouts of these customers. We are talking about those vital statistics that a CEO must know because he would then be aware of how well the business is doing, on a day to day basis. We are also talking about real time happenings that can affect the going-on of the business. And of late, CEO's must also be aware of public opinions about the company or its products such that bad publicity can be nipped in the bud.

Where to go to do Data Analytics?

Information about customers is available from CRM programs and can be accessed from website log files and also the social networks. It is good practice to tap into these sources constantly as data are generated. Although data are available, and in most cases in huge amount, they are often left alone as you will need an analytics program to make meaning of this constant stream of unstructured data-sets. As competitions are mounting, it becomes necessary to be able to analyze the captured data to help find nuggets of gold among all these information strewn all over the systems. The name of the game is called big data analytics and business big and small would do well to acquaint them of what they can do for the enterprise.

Already, politicians are making full use of it to tap into the public's intelligence and mood and to make amends so that they become relevant. It won't be long before others will have no choice but to embrace big data analytics to make their business on a better footing. As everyone wants to be heard and counts, it become necessary to also tap into the social media to know what people says about the brand. CEO's must be the first to know these opinions, and must have a means to be always be inform of both the good and bad vibrations that are generated from running the business. Analytics have become the catch word of the day and if you are not doing it already, then you must embrace it and have it on your smart phones as soon as possible. Competitions has make it mandatory and data analytics should be on default.

It is predicted that Big Data Analytics will spell the death knell for "market research" (as well as many others) as we know it!

Well, it is about time, after all people has been performing marketing research for decades. With the information age at our doorsteps, we do not need to go out there and plead with the focus groups for their opinions. We can now use just a click to access all those information about the why what and how people buy. Big Data Analytics will change all that and it is already happening. Only those who refuse to learn new tricks in the old market research fratenerty will want to cling to their old horse, but how long can they do that. We at Real Time Market Research would like to march straight ahead and we are proud to bring to you the nexr generation Market Research, something that will help you to see all the corners at the click of the mouse. Be brave, embrace now what big data or even small data analytics to move up the value chain.

You can now subscribe to the "Touch the Pulse" analytics program to get in front of the competition and make your business go places.

You may learn who benefits from using Touch the Pulse Users here