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Who are my most valuable customers and other questions you should be asking

Back in the days when I was still doing Market Research, we tought all the newcomers to do one thing right; find out what decisions the client is going to make based on the survey. Then, after the project was done, go back and present answers to those questions. A satisfied client guaranteed.

Today, with AI, Machine Learning and Advanced Analytics, we are living and working in a brand new world or are we? Of course the answer is obvious: not really. Yes, there’s loads more data available, cloud storage, algorithms and shiny BI dashboards. But none of that really matters on it’s own. The value derived to your business comes with understanding how the data can help you be more right, more often (than your competitors).

The first step is still the same as ever. Put the data aside for a while and start by defining and prioritizing your business needs, the questions that need to be answered by analytics. Then go back to your data to look for the answers.

Deriving value from advanced analytics

Start your journey to data based management by asking yourself why are we doing this? What are the key business decision that we need to make and is there data availabe for these? If the answer is yes, we at Houston Analytics are here to help you take the first step.

Here are some examples of questions that can be approached with advanced analytics.

Which of my customers are likely to churn?

How are my customers engaging on my site?

How do I optimize staffing for my business needs?

How can I predict the size of my market 5 years from now?

How much return am I getting for my marketing spend?

These questions mostly fall into 6 typical analytics solution areas (in the graph below) where Houston Analytics can help you to find the answers for your business.

Typical areas where advanced analytics can help your business.

Are you ready to start asking? Email ari.heino@houston-analytics.com or call me at +358 400 868 446 and I’ll be more than happy to help you draw the right questions for your business needs over a good cup of coffee.