Unlock the potential of data literacy assessments with a strategic guide. Learn the sequential steps to kickstart assessments, tailored to your choices. Define goals, competencies, and skills for a culture of data excellence.
Mythbuster: The best analysts are the fastest order takers
Often, an analyst is a person who extracts necessary values from the database and produces values and insights for business managers. And thereby, the faster one can do this, the better analyst they are. Sounds familiar? This post elaborates on the com ...
Mythbuster: Only Data Scientists Can Analyze Data
Many people think you need to be a data scientist to extract insights from it. This can’t be further from the truth. Typically, a data scientist is considered as someone who uses statistical methods, machine learning, and AI approaches to solve problems, ...
Advertising Campaigns: Generate dollars by spending dollars
Are you looking to generate revenue through advertising campaigns? Advertising campaigns are a powerful tool to drive revenue but cannot be done alone. They need inputs from other campaigns and analyses to be successful. In this blog, we will discuss how ...
5 Ways To Bridge The Awareness-Consideration Gap With Marketing Campaigns
Marketing campaigns are run to build upon the awareness created by the brand campaigns. They connect your products to your customers. The broader goal of the marketing campaign success is to push the customers down the marketing funnel and define the stra ...
Brand Awareness Campaigns: What Are They & Why Should You Care?
Say you walk into a shoe shop looking for a running shoe. You try many shoes; some brands are familiar to you, while others are new. The new brand you tried was the most comfortable and cheaper than the others. Yet, your brain keeps pushing you to a famil ...
How Data Science Is Used In Fintech
“Banking has to work when and where you need it. The best advice and the best service in financial services happens in real-time and is based on customer behavior, using principles of Big Data, mobility and gamification.” – Brett King One could argue tha ...
The Importance of Defining Your Metrics, and How it Will Help You Achieve Success
As you all are very familiar with your product space, know that when it comes down to the metrics to track the performance of your product, there are 1000s. For app business, the users can be tracked using Daily Active Users (DAU), Monthly Active Users (M ...
The Analytics Practices Startups Should Follow To Achieve Growth In 2022
Misalignment between business objectives and success metrics is a common problem, especially as a start-up is in its journey of growing and evolving. With the surge in data collection and analytics practices, it's easy to get lost in its depth and breadth ...
How To Improve Analytics Readiness For Your Start-up?
Analytics used to be the thing of the established companies to improve their company performance. Times have evolved, and analytics readiness has become necessary while laying the foundation for a company especially startups. All departments, including op ...
Pricing Analytics: How To Price Your Products Right
Say you need to book a flight ticket. You go to your favorite website, put your preferences in the search bar, and hit the search button. You obtain the list of flights with their prices. In such a case you often notice that the prices of many flights are ...
UI/UX Analytics: Build delightful product experiences
“You can’t just ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new.” - Steve Jobs As a business leader, you are interested in revenue and profits, but your customers are expecting enjo ...
Analytics Framework: The need of the hour for Analytics teams
This is the last post on 2022 readiness in the Series C Growthonomics. So far, we have discussed as the head of data/ analytics how to get more value from your data by creating an analytics agenda that would help you figure out the 10 to 15 problems to wo ...
Do your analysts have the permission to ask the why behind the what?
In the last blog in the start-up readiness series, titled “Too many tickets and fewer resources,” we discussed building an analytics agenda that would help the data and analytics resources to focus on solving the highest value problems instead of going on ...
Product Analytics – How to convert your customers into dollars
Your product acts as a bridge between the customer and the dollars (revenue). And I am using the word product quite generously but product in this article refers to product and service. So, the customer navigates through your product, and at some point de ...
Scaling Analytics: How to Prioritize Projects When Resources Are Scarce
As a business, there are lots of questions that can be asked of data. Some can be answered by building thoughtful dashboards while some require analysts' time and effort to get to the answers. Going back to our food delivery app example from last time the ...
How Lifetime Value (LTV) Maximize Your Marketing ROI
When it comes to deciding on marketing budget and marketing strategies, the marketing executives pull up last year’s marketing cost, customer growth, and revenue; and depending upon the next year’s targets (which are mostly set by the top management), the ...
Unlock Startup Success: Innovate with Behavioral Economics
One of the crucial challenges for start-up entrepreneurs in this competitive business landscape is innovation, i.e., continuously developing innovative id …
How to use experiments to find your way to success
"To consult the statistician after an experiment is finished is often merely to ask him to conduct a post mortem examination. He can perhaps say what the experiment died of." - Ronald Fisher Experimentation is a powerful tool for businesses to innovate a ...
How to differentiate the thin line separating innovation and risk in experimentation
Are you discouraged by your unexpected experiment outcomes? Is a feeling of despair engulfing you due to continuous experiment failures, making you believe that your ideas are inaccurate and wrong? We have seen this as a general trend in start-ups, and ...
How to get started with Customer Segmentation
“It’s not the customer’s job to know what they want.” - Steve Jobs Back in the days when there were no automobiles, if Henry Ford had asked people what they wanted, they would have said “faster horses.” Companies cannot innovate by asking people what the ...
How to use Retention Analytics to find the best value in your existing customers
"Customer Satisfaction is Worthless. Customer Loyalty is Priceless" - Jeffrey Gitomer "Customer is King" is an age-old mantra reflecting the importance of customers or consumers in every business. Traditionally it means to provide good products or serv ...
How to use Experimentation as a Growth Accelerator
"Experimentation is the least arrogant method of gaining knowledge. The experimenter humbly asks a question of nature." - Isaac Asimov One thing that a company should learn to do, that can accelerate its growth many folds is running effective experiments ...
Acquisition analytics: how to get more customers
“Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.” - Steve Jobs As a growing company, you understand the importance of bringing in new customers. But do you know if you're fully lo ...
Customer analytics: How to meet individual customer needs?
“The goal as a company is to have customer service that is not just the best but legendary.” – Sam Walton Over the past 100 years, a lot had changed from when firm owners knew customers by their name, individual needs, and personal preferences. Customer ...
Leave risk behind by embracing customers’ needs
Every customer has his/her own needs and preferences. These needs drive customer buying behaviour. Customer experience is a critical factor that determines the referral and brand advocacy from the customers. Everything falls into place once their ex ...
How Aryng identified $500K+ in incremental revenue for Kiva using LTV Analytics
The risk of failure is congenital for every start-up. Blame it on cost challenges, poor product-market fit, or the inability to reinvent the wheel. Whatever the reason, it could feel frustrating to find yourself as a failure. I understand!! Ho ...
Customer retention: Loyalty has its perks
Every business needs new customers to grow. Some of these customers continue to buy the business' product and soon become a valuable part of the company. While acquiring new customers are important, companies also tend to focus on retaining their loyal cu ...
How to acquire new customers?
For businesses to flourish, they need to constantly acquire new and valuable customers. The process of bringing in new customers is called customer acquisition and is a part of customer analytics. While the process sounds simple, actually acquiring cus ...
How to use cohort analysis?
Cohort analysis is a technique used in several analytical methodologies, including customer analytics, for dividing users into groups with common characteristics. Analyzing these groups, or cohorts, can help companies understand user behavior. Cohort a ...
Customer segmentation and its importance
Customer segmentation is a methodology under customer analytics used to group customers or products with similar characteristics into meaningful segments. The process allows companies to target customers better and serve them in a more fitting manner. ...
Data lineage: Studying the life cycle of data
Like animals and plants, data too has a life cycle. It goes through various changes from its inception to its destination. When dealing data maturity – that helps maintain high standard data quality – it is necessary for organizations to understand the li ...
How organizations can prevent data security breach?
Antonio Neri, the CEO of Hewlett Packard Enterprise, had said in 2019 that "Data is the new currency". Neri had seen how companies were evolving with data. This digital transformation is still underway and likely to continue. With data being equivalent to ...
Why should you use a data management system?
Data management is the practice of collecting, storing and using data effectively and securely so that data can drive the decision-making process. Effective data management is crucial to companies that want to develop a data culture. It is a component of ...
Why do you need a Single Source of Truth?
More than a decade ago, companies were focused on accumulating data. Collecting data was important as there was not enough to make informed decisions. Now, there is an overwhelming amount of data. But, companies are still not able to make data-driven deci ...
Why is Data Governance important?
Data is in abundance and everywhere. But, this does not mean that owning/sharing a large amount of data guarantees success for organizations that wish to drive impact by using data. It is absolutely necessary for companies to have a structure in place to ...
Data Science Process: Why you should ask the real business question?
Driving a car without knowing the direction does not make any sense. We will not reach where we want to go. We need to have the right information about the trip so that the journey can be planned accordingly. Imagine running out of gas just because you di ...
Data Science Process: Why should you use BADIR?
Analysts and data scientists can face many hurdles in their work, especially when starting a new project. One such problem is working with such a large amount of data that you lose track of the goal. This happens with data scientists/analysts a lot. And i ...
Data Literacy Training: How to develop a learning solution
As we become more and more technology-driven, data has emerged as a universal language for this advancement. Companies are adapting to the change and investing in data. However, many have failed to understand the importance of data literacy. To achieve th ...
Data Culture Assessment: A step toward building Analytics Maturity
Organizations are now more and more taking advantage of data to bolster themselves. Companies are using data to make decisions instead of relying on intuitions or just past experiences. This forms the basis of data culture – when your company applies data ...
What is data-driven leadership?
Data-driven leadership is the most critical aspect of scaling data literacy across an organization. Leaders align data literacy to business impact, they foster a decision-making process that is data-driven and champion a common data analytics process. Ali ...
Artificial Intelligence — Changemaker in healthcare industry
Artificial Intelligence has infiltrated our lives in some way or another, even if we don't notice it often. It is everywhere, from the pricing of goods, self-driving cars, and advertisements on websites. But, one of the most crucial applications of Artifi ...
Recommendation Engine: How to choose one?
It's an entirely digital world – there is no doubt about it. Companies are developing more digital tools everyday than one can possibly keep up. Customers are now used to the online environment and the internet, and connectivity has become a core part of ...
Why Anomaly Detection is important for businesses?
Have you ever wondered why Google keeps notifying you when you log in through different devices? Or when your spending pattern suddenly changes, why do you get a notification from your credit card company? Events such as these do not follow the usual p ...
K-means Clustering: An unsupervised algorithm
What is cluster analysis? As the name suggests, cluster analysis is the process of grouping together different objects that are similar in some aspects. In business analytics, we apply cluster analysis to group together different products, customers, or ...
Next Best Product: How BADIR helps in recommendations
E-commerce sites and online shopping have been growing steadily over the last two decades. The growth in numbers has led to a diverse development in the new online shopping experience, payment pathways, online merchants, and e-commerce sites. Th ...
How to use Machine Learning to Increase Customer Subscription
For any subscription-based business model - the key to successful growth is customer retention and customer subscription. Unearthing factors that increase subscription and retention amongst customers require an acute understanding of customers' behavi ...
All you need to know about Customer Analytics
Customer analytics is a process by which data from customer behavior helps make critical business decisions via market segmentation and predictive analytics. Businesses use this information for direct marketing, site selection, and customer relatio ...
Neural Networks: what they are and their importance?
One of the business problems we encountered a while ago involved identifying customers who subscribe to a company's next best product, neural networks can help us determine that. There was tremendous customer data and a plethora of information hidden i ...
What are the different Data Literacy Personas?
Personas are created to describe the outcomes you want each one to achieve. The specific functional groups and roles can be mapped to a persona that is appropriate for them. Each employee uses data and reacts to it differently. The level of data litera ...
What is Analytics Maturity and Why is it Important ?
What is Analytics Maturity ? Analytics Maturity is a model for assessing an organization's ability to effectively practice data exploration and decision making. Therefore it uses different levels or stages. Four components of Analytics Maturity support ...