Data is the DNA behind the robust analytics and insights supporting modern organizations to recognize new products, determine how to serve customers better, and enhance operational efficiencies.

1. How to Leverage the Power of Data
Analytics in Sales
As per Forbes Insights, data is the DNA behind the robust analytics and insights supporting
modern organizations to recognize new products, determine how to serve customers better,
and enhance operational efficiencies.
Organizations that embrace analytics have significantly more growth than those that delay
adoption. These organizations are also defined by having comprehensive digitization of data
and adoption of analytics. However, just because data integration is highly increasing doesn’t
imply that businesses are using it accurately. Not exactly 50% of businesses are using big
data systems successfully. Not all strategies are designed optimally. To see the significant
impact of data utilization on sales and complete profitability, you should follow some key
strategies.
Substantial Business Outcomes with a Well-organized Data Foundation
Several organizations observe data as the foundation against which they want to create
better customer experiences, increasing sales revenues, enhancing operational efficiencies,
and delivering new innovative products. Eventually, what values most organizations is
bringing all essential data together to notify the decisions and drive successful actions.

2. Analytical infrastructure built on a well-organized data foundation is critical to decisive
decision-making and achieving the best business outcomes.
Organizations strive to utilize data efficiently but are facing obstacles. As per Forbes Insights,
just 48% say they have a reliable data management process. Amidst the challenges: 52%
have difficulty integrating multiple sources of data, 49% strain with prioritizing data, and
47% are challenged by planning the right data to collect.
If data is fallacious or corrupted, the machine won’t deliver workable insights. That’s why
having a solid data foundation built around the production and acquisition of data is
essential for success in sales. The modern data foundation brings together all the most
significant data points, connects them to key performance indicators, and produces a unique
version of data accuracy and understanding across the entire organization.
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Determining Data Deluge
Businesses across various industries are running towards embracing digital transformation.
They want to stay contentious and drive business growth and modernization. But digital
transformation comes with hurdles, particularly around data management.
Data is one of the organization’s most important assets but leveraging data insights can be
challenging. Businesses are typically swamping in data that fails to deliver the insights and
business value required to assist their customers.
Some organizations have standardized practices of utilizing data to scale and optimize their
business performance, while only a few marketers can say that they have a consolidated 360-
degree view of their customers.
Leveraging Data Insights Indicates having a Path towards the Analytical
Journey
The cost of data is directly associated with how it is utilized and implemented. It can either
not influence business performance, affecting only a small percentage of an organization’s
results or stimulating stable business growth.

3. If you are initiating your analytical journey, you tend to examine questions such as “what
happened?” and “why did it happen?”—the understanding of whys and what is known as the
Descriptive Analytics stage of analytical maturity.
As you proceed towards more advanced stages, the questions might get changed. You now
have the foundation to know “what” and “why,” and you will be asking questions like “what
will happen next?”. Predictive Analytics will deliver answers to these questions and beyond
that. Then the Prescriptive Analytics will provide the following best action advice and
support based on specific business events.
Organizations that leverage, utilize, and integrate actionable insights into their regular
decision-making can adapt themselves and build a long-term competitive advantage.
Forrester’s research specifies that “insights-driven” companies expand at an average of more
than 30% annually.
Data insights are transforming the source of competition. Leading companies are utilizing
their abilities to enhance their core operations and propel utterly new business models.
According to Gartner, the businesses that leverage actionable insights for digital commerce
will achieve at least a 25% increase in revenue, cost reduction, and customer satisfaction.
By concentrating on business outcomes, you can drive your digital concept and transform it
into insights and data strategy that delivers substantial and measurable results. Start basic
with your existing data and emphasize success. Actionable data analytics empower you to
stay modern with any market changes and will facilitate quicker, better-informed, and more
specific business decisions in real-time.
Are you ready to start leveraging the power of data analytics to increase sales? Get detailed
insights on Data Strategy and Insights and how it speeds up your strategy.