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+++ ALERT +++ You are Sitting on a Goldmine! The Future of Analytics is Proactive.

Posted by Anne Golombek on Sep 29, 2016 1:32:16 PM
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Heartbeat.pngIf you were walking over a gold mine that is buried somewhere deep under your feet—would you notice it? Probably not, because most likely you are not an expert. But wouldn’t it be great if someone would proactively point out the gold to you? Not only would it ensure that you do not leave it for the next lucky one, but also, this type of proactive information is much more efficient than digging blindly through thousands of square meters based on a vague gut feeling.

With Analytics, it is exactly the same: they can show you where the gold is, but spending hours and hours arbitrarily analyzing millions of records is highly inefficient—quite apart from the fact that not everyone is designed to do the work of an analyst. For this reason, the future of analytics is proactive: solutions must inform their users proactively if they are sitting on a goldmine—or even on an ice floe which is starting to break apart. Equally important: You need to tell them what to do to access the gold and to prevent the ice from breaking.
 

Your Proactive Treasure Map

Similar to a gold mine, your commerce organization also has much untapped potential for value creation. Customers who would be willing to buy (if they just got a newsletter with the right promotions), products that would bring high turnover (if only they were in stock) and campaigns that could generate hundreds of new customers (if they would have gotten a higher budget). Do not let this money lie around. Let your proactive treasure map show you where it is—and then grab it.

Our freshly launched minubo Heartbeat is such a proactive treasure map—an in-app insights stream that analyzes your data and, based on intelligent algorithms, proactively informs you about business risks and opportunities. It gives every user the ability to make data-based decisions without cumbersome analysis work—because if we have learned one thing during the recent years in the Commerce Analytics market, it is this:

No one, absolutely no one, needs more data. More and more complex analysis tools are only needed by Analysts. What everyone needs instead are clear insights and action.
 
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Many Nuggets Result in a Bar

Yes, gold bars are better than nuggets, but not every business action will earn you the large bars immediately. Instead, open yourself up to the fact that even small decisions in daily business are valuable and in total (if they are properly taken care of) can result in one or several bars. So what is the right thing to do? Make sure that everyone on your team is in a position to make daily decisions in a data-driven way and start to collect hundreds and thousands of nuggets, in addition to the occasional gold bars.
 

Do not Waste Time With Excavations in the Wrong Place

And one more thing—if you have been in your job for some time, you will know this: Not only is the gold left lying around lost gold. Time invested for excavations in the wrong place are just as great a loss in value. Consequently, neither analysts nor non-analysts make your organization efficient if they put a lot of time into complex analysis, only to perhaps discover something that may probably bring money into your account in the end. So let a machine do the work (which is much faster anyway) and focus on insights and action—in short: the results-oriented topics.
 

Conclusion: Proactive Analytics Provides you With a Team of Gold Miners

To summarize, the future of analytics is proactive because commerce organizations must be able to act in a data driven way in all roles, even if no time and/or expertize is there for dedicated analysis work—otherwise, they will not be able to withstand the fierce competition in the long term. As soon as analytics show your users proactively what to do in order to increase the company's performance, the performance will indeed increase. From now on every employee will be a gold miner.

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Would you like to make this vision a reality? Then minubo Heartbeat might be interesting for you. You can find information here—if you would like to know more, simply register on the linked form or contact us directly under contact@minubo.com or +49 (0) 40-398 06 75-101.

Topics: minubo Team & Tool, Commerce News & Insights