We hope you enjoy reading this blog post.

If you want my team to configure a dependable Google Analytics 4 Setup for your business, book an online appointment as soon as possible - don't miss out on the opportunity to get the earliest available slot here!

We hope you enjoy reading this blog post.

If you want my team to configure a dependable Google Analytics 4 Setup - don't miss out on the opportunity to get the earliest available slot here!

Why you need Analytics in your business?

How to leverage data to reach your goals with conscious actions WITHOUT getting lost and ending up in a place where you never started out to reach

Updated on 11 April 2023

Do you know why most small businesses don’t make it big? The primary reason is that business owners never stop working on the business, while what they actually need to do is work on the business. This is the same message I discussed previously and you will read this later again in this book, but please etch these words into your memory! it’s essential to remember: you should be working on your business and not in it.

Any business owner worth their salt knows that there are some key numbers that make or break a business. Most small business owners that remain small will just look at these numbers like sales, revenue and profit. However, the ones who make it big, the really savvy ones do not look at these numbers, but they sincerely question them.

They question good numbers to understand how to repeat them and they question bad numbers to understand how to improve them.

Further, I hope you agree that scaling most businesses will need a team effort. It’s unrealistic to think that you can find all the team members who have such great gut instincts that they don’t need any data to drive their decisions and yet are consistent with success rates.

Therefore, as a business is expanding and you’re hiring more team members, it’s essential to establish a data-driven culture. Because only by examining the data, you can determine whether individual aspects of the business are successful or not. Additionally, without data analysis quantifying growth would be impossible.

Let’s take profitability for example. It is essentially an output of an equation, where your inputs would be numbers like sales, average order value & costs. Costs such as inventory costs, marketing costs, shipping costs, salaries of your team etc. etc. And hence to optimize your profits, you need to optimize each of these other numbers one by one. Further, each of these numbers which are driving your profit is a function of more numbers itself. For example, if we consider sales volume then that depends on numbers like:

So, if the business can improve any of the 5 categories of numbers, they can have an impact on their sales.

But, answer this – How will you optimize something, if you don’t know how to quantify that thing in the first place and what the optimized state actually looks like? What is the incremental improvement, if you don’t what is the base of that improvement? And this is where Analytics applications like Google Analytics become a critical component of your digital stack.

With Digital Analytics, you will not only quantify all the important numbers that directly or indirectly impact your business. But, also have benchmarks to assess their performance. Once you have benchmarked these numbers and analyzed them, you can start leveraging them to drive decisions. And now since your decisions will be based on numbers, you will have total clarity on whether your decision was the right one or not. And hence you will get to a stage where you know what your business needs more of and what needs to be toned down.

Getting my point?

So, that’s why you need it. Analytics. I rest my case.

About Sanmeet

He is the Founder of DataVinci. After many years working for iconic brands like Citi Group, eClerx, MakeMytrip and Vodafone, he decided to found DataVinci in order to tackle major problems in the digital analytics domain. His unique model allows customers to pay only one person but they can access top-tier professionals with great communication skills enhanced by an unrivalled work ethic! Thanks to this innovative concept, DataVinci has grown into a team consisting of over 30 people in just 5 short years and is now supporting multiple global brands with their analytics needs as well as optimization functions.

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