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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Louis Gray talks about automating business research using search aggregation techniques in his Inbound Marketing Summit talk “There is no information overload“.

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