These days, data is very easy to collect through sources such as surveys, ad analytics, and even social media analytics. But data is essentially input and must be translated into actionable insights for businesses and organizations to grow.
So, what makes data actionable?
Being able to answer what the data points mean and determine the next course of action for your business is crucial in making the most of your data. Here are some things you can do to turn your data into actionable insights.
A Great Hypothesis is Key
The first step in knowing the meaning of your data is understanding what you’re trying to uncover from collecting data and, more importantly, what you intend on doing once the hypothesis is proven or disproven. Having a plan will set you up for success and not leave you feeling overwhelmed with what to do with all the numbers you have gathered. Digital Marketing Evangelist, Avinash Kaushik (Links to an external site.), has a great article about the Lean Analytics Cycle (Links to an external site.) and how it aims to create a sustainable system of picking metrics that are important for businesses by creating a hypothesis and identifying actions to take from your findings.
Ask & You Shall Receive
Once you have developed a hypothesis and have an end goal in mind, make sure you endeavor to ask of your audience the questions you need answered. This can be through a questionnaire or simply looking for answers to your questions within analytic platforms connected to your webpage, social media, ads, etc.
Visualizations Help Interpret Data
Using clear visuals and graphics help tell the story of your data and make the inputs more dynamic and digestible. Ensuring the visualizations tie into your hypothesis will promote cognition and allow for a better analysis of the data.
Chart the Course
All that’s left to do is determine your course of action and have a clear-cut plan to analyze your data points so that you’re left with information and not just numbers. Follow these steps and you’ll have actionable insights for your thriving business in no time! Also, if you you’re looking to leverage your marketing research to grow in the field, don’t forget to check out this post (Links to an external site.) for more valuable insights!