Looking to build an analytics company and need help with what to focus on

GerinGerin subscriber Posts: 2 Member

I am still in my 9-to-5 where I work in extracting stories from data to facilitate effective decision making for our executive team. I've become fascinated with the contrast of how a Fortune 500 company employs thousands of Analysts to interpret data for the ultimate goal to win more sales & customers to how small business owners in my family virtually use no data analysis in their business operations. My inkling is that the type of work Analysts do for large corporations in regards to converting raw data into reporting that monitors sales performance/customer engagement, identifies opportunities to grow market share, and/or forecasts sales/demand could be applied on a smaller scale to help smaller businesses. I would love to hear from you all about any advice you for what to focus on and any answers to the following questions.

1) What is your biggest challenge with analytics?

2) What is your biggest hope related to analytics?

Thanks so much!

Comments

  • Tuah BaoTuah Bao subscriber Posts: 176 Silver Level Member

    Hi Gerin,

    1) Data gathering and accuracy. You may not be able to gather all the data you need. People sometimes are unwilling to share their information. You may not able to get the accurate data. For example, customers 'logically' answer your survey, but they make 'emotionally' decision.

    2) Data mining. How you relate all the data, process them and produce meaningful result.

    Tuah Bao
    100+ done for you courses to immediately start running your own profitable e-learning business
    https://www.courseserious.com/


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