Automated Analytics Tools: A Boon to Business Decision-makers
The way we do business is changing fast—especially the way we make business decisions. It used to be that when you wanted data and analysis for a business decision, you’d hire an agency, working through a series of time-consuming steps. Eventually, a month or two later, you’d finally get the data and analysis you needed.
Today, with the seemingly endless supply of available data, the old way of gathering and analyzing data is no longer good enough. Clients know the data is out there, and they want someone on their side who can get it instantly. Business processes are faster, cheaper, and better, driving the need for real-time data—which in turn means we need better automated data analytics tools.
Even as clients demand data yesterday, the plethora of customer data sources out there makes it harder and harder to pull relevant data together into a usable package. We now have access to Big Data and social media data, purchase data and store data—and it’s impossible to gather and synthesize all that information manually.Automation is the only way you can reach into the myriad data sources, gather the necessary information, and provide meaningful analytics.
Real-time access means you can synthesize opinion data and behavioral data to create a more complete portrait of a customer. (Do consumers really behave the way their answers to survey questions seem to indicate?) From there, you can use the data to really get into the weeds, dividing the market into narrower segments based on consumers’ actual behavior. That means you can get a much closer look at purchase behavior and brand loyalty. All of which means that business managers have the information they need to make important decisions quickly—before the competition outruns them.
Coming Soon: Automated Recommendations
Automated analytics is destined to go even further. The next step is automating recommendations. That means decision-makers will no longer have to comb through data and make subjective decisions based on their own interpretations. Instead, they’ll get a list of recommendations based on evident trends in the data. That will further reduce the time it takes to travel from Problem to Solution. It’s the next logical step in the evolution of automated analytics tools—and it’s just around the corner.