5 Tips For Creating A Data Driven Business

August 13, 2009 by Andy Brudtkuhl  - Leave A Comment

Are you often wondering if you should sell that new product?

Or if you should lower your prices?

Or if you should reduce your inventory?

Wouldn’t it be nice if you didn’t have to make these decisions based on your “gut feeling”? If you let data decide you will be much better off. The data is there – and it’s free. You just need to sit down and analyze it, or hire someone to do it for you…

A data driven business is one where actions and decisions are based on data – in our case web analytics data.

Here are 5 Tips for Creating a Data-Driven Business

1. Create and Measure Goals

2. Make Business Sense of Your Data

3. Test Your Decisions

4. Segment Data to Find Meaning and Behavior

5. Research Before You Launch

    Do you have any questions on data driven decisions? Let us know in the comments or chime in at the forums!

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    4 Responses to “5 Tips For Creating A Data Driven Business”

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    1. 5 Things Small Businesses NEED To Do Online | Web Strategy Workshop says:
      September 14, 2009 at 11:30 am

      [...] the age of the web – all your marketing decisions should be made based on data rather than instinct. Go ahead – read that sentence [...]

      Reply
    2. Using Data To Better Connect With Your Customers | Web Strategy Workshop says:
      October 13, 2009 at 2:02 am

      [...] October 13, 2009 by Andy Brudtkuhl  - Leave A Comment Are you making data driven decisions? [...]

      Reply
    3. 5 Cornerstones Of An Effective Web Strategy | Web Strategy Workshop | Learn How To Run Your Business Online says:
      November 20, 2009 at 3:49 pm

      [...] save the most important for last – make data driven decisions. Track everything but don’t be caught up in paralysis by analysis. Take advantage of free and [...]

      Reply
    4. Top 10 Web Strategy Posts Of 2009 | Web Strategy Workshop | Learn How To Run Your Business Online says:
      December 28, 2009 at 12:29 pm

      [...] 7. 5 Tips For Creating A Data Driven Business [...]

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