Big Data Analytics
Top Strategies to Ensure a Successful BI Implementation
Analytics implementation is basically a no-brainer these days. The fact is that if you have a website, you ought to be tracking as much about your visitors as possible. This can range from simple to very complex analytics. However, there are some things to consider first before implementing your analytics system:
What is Your Strategy?
Have a plan in place for what you’re going to measure and how you’re going to determine your ROI. Having some direction with goals will keep you from being overwhelmed by data analysis and keep you focused. Also, consider what actions on your site do you want to measure. Will people submit an email address, purchase a product, or complete a store locator?
Consider Your Data Sources
Do you have other digital properties? Do you have a CRM, POS or email marketing data that can be included in your analytics system? What social channels such as Facebook, Twitter and Youtube will you want to integrate into your analytics platform?
Determine Your Available Resources: Budget + Human Capital
Resource considerations are a must. Not only will you need to factor in the cost of your analytics system (per monthly charge, for example), but you will need to account for the time spent analyzing and reporting on the data captured. Never forget that time is money. That’s why it’s important to hone in on your goals and strategy in order to manage expectations and not over-allocate resources and budgets.
Know The Limitations and Capabilities of Your Analytics System
Analytics systems range from basic to robust, so it’s important that you know what yours does and how to get the most bang for your buck. Make sure to consider if you will get the information you need from a standard implementation or if you need a more custom solution to integrate multiple disparate sources.
What Are You Going To Do With The Data You’ve Captured?
There’s no sense in tracking anything if you’re not going to act upon it. Therefore, you need to have a plan in place. How will you use this data to improve your business? Perhaps it will inform your research and development, help refine your digital media campaigns or inform your offline marketing executions.
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[This article was syndicated with permission from AskingSmarterQuestions.com.]