Why Business Analytics Is Essential for Running a Successful Business

WHY IS BUSINESS ANALYTICS IMPORTANT?
The foremost goal of any organization is profitability, and customer satisfaction is a huge component of the success of a business. When an organization innovates and stays ahead of its competition, it fulfills and goes beyond customer expectations. Many businesses still rely on ineffective, time-consuming traditional techniques for decision making processes that cannot keep pace with the competition.

The use of “Gut feel” in taking strategic decisions still plays an important role among business leaders. But does reliance on “Gut feeling” and “Traditional techniques” make for smart decision-making? What’s the best approach?

The technology boom has given rise to innovations in how data is used. Business analytics is the solution and the best move to ensure competitiveness in today’s era. To define the term: “Business analytics, one of the emerging fields in the data science, refers to the methods and various statistical and quantitative techniques used by an organization for informed decision making and business modeling”.

Analytics is the change that helps you to get your business on track. It assists the businesses to convert the humongous amount of generalized data into observation, patterning and vision.

BENEFITS OF BUSINESS ANALYTICS
What was discussed above is just an academic definition. Now let’s discuss why one needs to adopt it in business operations:

Fast decisions are easily taken, but what matters is smart decisions taken in a short period. It helps to inculcate faster and smarter decision making into business culture of your organization. With the help of business analytics, the company can empower a team for data analysis to extract targeted information. When a company accesses accurate and essential data, undoubtedly, it will take the right decisions.
Analytics helps in quantifying business values.
Most businesses provide training programs for fresh recruits or older employees where the core business values are imparted or refreshed. Instead, companies should go a step further and undertake the help of business analytics to translate business values into numbers. This is a more cost and time efficient undertaking.

CAREER PATH OF A BUSINESS ANALYST
A business analyst is one who assists organizations in the process of business analytics. The career path of a business analyst is not strictly defined as there are several options based on industry, qualifications, interests, preferences etc.

Training provides trainees with the skills and knowledge needed for a proper understanding and interpretation of data.
Training courses help students in getting exposed to data systems and tools like R, SAS, Python etc. making them eligible for various analytical jobs.
The best incentive for undergoing a course is that the industry-best average salary of a business analyst is Rs 491,522 a year. There are various skills that can increase the pay scale of a business analyst like project management, SAS etc.

CONCLUSION

The role of a business analyst is often seen as one that bridges the gap between different departments in an organization. There are various business analytics courses which can help you achieve all the benefits mentioned above. Candidates with these skills can help an organization to strategically improve operational efficiency.

Business Marketing Consultants for Your Small Business

Point to Ponder

If you think that there is no need for you to hire some business marketing consultants because you only got a small business, then you could think twice for such decision. Unless if you have a business background and has proven yourself to excel in business without the advice of marketing consultant then you can go on and not hire a marketing consultant for your small business. However, the point here on why there is a need to hire the expertise of a marketing strategist for your business whether it is big or small is that you are not alone in the market and there could be ways that you have not known on how you would be able to entice the market into buying your products or the services that your company may provide.

Intense Competition

Even if your business is small you still need to seek wise advices from marketing strategist in order to stay alive in the market. There are small businesses today that bloom for the first two months of operation but then later became very cold in the market until it freeze and dissolve completely, it is because they have no exact marketing strategies and techniques on how they could become competitive in the market and excel. It is such a waste of money for capital as well as effort that after several months could turn out to no longer exist in the market. Competition in the market are really very intense and if you don’t have enough techniques and strategies in marketing you will really have some very hard time in keeping your business alive in the market.

Steady Endurance

You may wonder why there are small businesses in the market today that has endured the intense competition, there only chance in staying alive in the market is that they have business marketing consulting behind them that help them to have steady endurance in the market. Although their businesses are just small, with the help of the marketing consultants, they are able to figure out some ways on how to face the battle of competition in the market being equipped with the right strategies and techniques provided by their marketing consultants and stay victorious. So even if they are the smallest business among the big giants in the market, still their company will stand stronger because of the strong foundation of marketing that they may have.

Secret Armour

The short term and long term goals and the marketing strategies and techniques that the small businesses’ marketing strategist have provided them are the secret armours of these small businesses. As their marketing consulting have laid out to them both the short term goals and expectations for their companies, their consultants have also teach them some alternative courses of actions on how they are going to battle some crisis that may come their way. So, if you want to get the best armoury for your small business and stay victorious in the market, it is best that you hire the services of marketing consultants so that you will also be guided well with the marketing strategies and techniques that they will provide for your business.

How to Create a Brand Professional That People Want to Get Behind

Have more than a blog and a social media account.

In case you desire to generate a significant impact as a business online, having a blog and a social media account is definitely not enough. What is crucial is to be aware that there has to be a brand behind that blog and social media account. There have to be something that make people feel is a whole, not just a bunch of posts and comments that are not tied together. Having a logo doesn’t automatically makes your site a brand. To have a real brand you have to comprehend what’s behind all the text you can write, it’s like the essence that is deep of your whole platform, it is that little something that makes it special. Once you have a brand you’ll have fans, in order to achieve that you need to create yourself and image, that image you create needs to get exposure.

When can you conclude you have a brand.

You may ask yourself, if I have my site logo, and it doesn’t is the brand, then what is it? Something is pretty obvious, a brand without a name is not a brand. When you register your company you give it a name right? That name will be your online site’s name at the same time. The big company Google, says, that brands are more successful at SEO nowadays, at the same time from the user’s perspective sites with brands can be seen as even more professional than sites with no brands defined. A good example for this: if you call your site “Sports World”, it will work much better than just calling it “Sports Articles”.

Visual language of your brand.

Something that is also very important in this concept is having “visual language” in your site. After your logo has been created, the next step is selecting the colors and also images that relate to your business brand and are the basis of your brand’s logo. At the moment you have all these elements, you have to combine them into everything else you develop to your site. For example if your logo has the colors black, brown and gray, then your website needs to use these colors, same for your social media accounts, it’s about expanding your visuals to everything that you create from now on for your business.

Your Mission Statement.

So, the work doesn’t end there. Now you need to be able to create what is called as “The Mission Statement”. This is the more important aspect of your brand. Some experts say this mission statement is what to need to be defined first. “The Mission Statement” is just a short paragraph that explains what is your business about. Basically what you do and the reason behind it. This includes the goal you have, the vision and also the commitment you put to make it works. After you define this, you’ll have a better vision of what your business is about and based on that you’ll get the inspiration you need to create the elements of your business, the logo and the name are a couple of them. At this point you made your business name and your logo stand for something, thus now people can stand behind you and your business.

Why We Need a Mobile Small Business Portal Website for Future Entrepreneurs

It seems as manufacturing jobs have migrated to other countries and as retail jobs have been slowing due to online sales that more and more jobs are in the service business. Having participated in this sector during my career as an entrepreneur I noticed the need for consultants and advice. When starting a service business there is much to learn and more often than not, you cannot find it in an MBA class. So what is a start-up service entrepreneur to do, considering they will probably start by working out of their home and going to the client’s home or business to do the work?

Well, I believe we need better Portal Websites for exactly this purpose. If someone were to start an online resource like this, I’d sure be willing to help them out and I am sure other veteran service industry folks would also, think how many people formerly of the mobile service business are on LinkedIn? Maybe they can steer interested people to your Blog, writings or offerings – that is if you were to take up the cause and start such a website? Do you have a Mobile Business Portal website now? Do you run a mobile service business and think you could help others across the nation in your sector?

It seems mobile businesses need a lot of back-office stuff (accounting, scheduling, software, routing, incoming tele-marketing) and franchisors of mobile business models need franchise buyers. People getting out of the military are EXTREMELY SUITED towards mobile businesses being ‘take-action’ types and they follow business plans and business models, manuals and instructions well, making them more successful in Biz Ops, Franchises or start-up mobile businesses with the right set of instructions and network behind them?

Most start-up mobile businesses need help and funding, so a portal website could capitalize on these needs? Is that kind of what you are doing? Personally, I have many business plans for mobile businesses, and there are other places to find marking plans, so maybe all of these should be on one website?

Now then, currently, I am retired and not really promoting anything, although I do believe in mobile enterprises due to cost-structure and ROI, just as I like “Internet Businesses” and online retail, it just makes so much sense to me for so many reasons. I’ve put a lot of thought into this whole ‘mobile business” thing over the years, in hindsight of what I had done, and also with regards to all the experiences and success I’ve had doing it. I’d be happy to pass that information on to the next group of entrepreneurs, and I guarantee you, I am not alone.

It wouldn’t be hard for some smart entrepreneur to build such a resource for the millions of mobile business operators in America. Think on it.