Find how to use data analysis to increase your sales

Find how to use data analysis to increase your sales

Companies generate more and more data in their daily lives, but more important than quantity is the quality of the analysis of the information generated. There is currently more than 5 times information than in 1987 and one of the biggest challenges for companies is to analyze data effectively so that decisions can be made on the basis of reliable facts. Well-conducted data analysis is very important to the company’s success, particularly in terms of increased sales. In today’s article, we cover the key aspects of using data analysis to increase your sales!

Frequent report creation

Data analysis should be done on a constant basis so that decisions are made on the basis of current information. Many companies make weekly reports and when they find the information this already has a few days. Ideally, you should create short, relevant, easy-to-read reports. Multipeers allows you to create simple reports, in which all users perceive information and analysis outputs. This change will positively impact marketing actions and consequently sales results.

Know what you want to analyze

The data is of no use if we don’t know what we need to do with them. It is essential to define the key metrics for analysis and to evaluate often whether the metrics we are analyzing still make sense to the business. Today, business happens at a very dynamic pace and this causes constant change. Analyzing data effectively allows us to offer better after-sales service to the customer as we become more aware of what they really need.

Real-time data analysis

Nowadays, it is no longer enough to analyze the data after a week of situations occur. Everything happens at a very fast pace and it is imperative that you analyze the data at the very moment they happen. Multipeers allows you to analyze the data in real time and alerts you to situations that go beyond what was previously established as normal. Let’s imagine that you own a chair of bathroom accessories and that you want every day until midday to sell X. If one day the value is outside your normal standard, Multipeers alerts you immediately so you can take actions such as launching a promotional campaign for that day to try to increase sales volume.

Create experiences instead of just selling

Nowadays, the consumer is more and more demanding and it is essential to create a unique experience for each of them. This task is only possible based on data analysis. Netflix is ​​a good example in this industry because it suggests movies and series according to the preferences and habits of each user. If you know your customer well, you will be able to provide him with a differentiated service and data analysis is essential in this chapter, because more than buying a product or service, the customer wants to enjoy an experience.