For all of the advances in data science and business intelligence, most analytics software tools deliver findings in the form of a dashboard. An eye-catching array of colorful charts and supposedly “intuitive” graphs that show different views of your data … but then what?
Last week we spoke to an exasperated sales manager who said that his organization was inundated with charts and lamented, “We have more charts and graphs than I know what to do with or even where to begin. I want the analysis to tell me what I need to do. Isn’t that the objective of data analysis?”
And that’s exactly right. The true purpose of data analytics isn’t to produce another pretty chart or a more whiz-bang dashboard. It’s the ability to quickly convert the data into specific, recommended actions.
I want the analysis to tell me what I need to do. Isn’t that the objective of data analysis?
Here is a simple but powerful example of creating recommended actions from data:
- Your orders data is rich with insight into how your customers buy your products. Analytics on this data can identify highly relevant and targeted opportunities to cross-sell and upsell to your customers.
- These product recommendations are delivered directly through your CRM system as actions assigned for your sales people.
- These assigned actions become opportunities in your CRM system and new tasks for the sales person: “Call this customer and recommend product Y. Tell them that you are making the recommendation because customers who have X also need product Y, and you noticed they don’t have Y.”
Converting data into action analytics delivers a far more meaningful and measurable value to a company. This is the next evolution in data analytics, moving beyond dashboards to delivering recommended actions right to your CRM.