How can data analytics improve decision-making in planning and management?
Pritam Davda
20 replies
Replies
Mariam@virtualmsmariam
Hi Pritam
Data analytics improves decision-making in planning and management by providing actionable insights, predicting future trends, and optimizing resources.
It enables businesses to make informed decisions based on empirical evidence, enhance strategic planning, and better understand customer behavior.
With real-time data, organizations can respond swiftly to changes and opportunities, leading to more efficient and effective management.
Businesses that use data analytics will improve the business.
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Upmetrics
@virtualmsmariam
Absolutely! Data analytics provides actionable insights, forecasts trends, and optimizes resources for better decision-making. We are launching Upmetrics today, you’ll be able to explore all these features and see how they enhance business planning and management.
BodySherpa
Analytics can and should help you assess your edge and your odds. Any decision is a bet of some kind -- either it has a direct cost or its more indirect (eg. opportunity cost or resource allocation). Anything you can do to extract signal from your data will allow you to make smarter bets at the company level.
Upmetrics
@duffdevone
Well said! Analytics helps evaluate our edge and odds, turning decisions into more informed bets by extracting actionable signals from data. This improves decision-making at the company level.
One thing that comes to mind is the importance of UX and app optimization. Users' interactions, such as website navigation patterns, click-through rates, and session durations, provide valuable insights into their engagement levels and highlight areas for improvement. For example, if we identify pages where users often drop off or encounter issues, we can pinpoint specific areas in the website or app that may need attention. This allows us to refine and enhance these elements, ultimately leading to a smoother and more engaging user experience. Such a targeted approach not only boosts customer satisfaction but also has the potential to increase conversion rates and user retention.
Upmetrics
@sonia_ponzo
Great point, Sonia! Data on user interactions is invaluable for optimizing UX and improving engagement. It's all about using those insights to refine the experience and boost retention.
@sonia_ponzo Hi Sonia! I noticed that you are good at product features’ improvement, our team is building a read-it-later product, may I invite you for beta test for free and provide us feedback?😸
Absolutely! Data analytics can be a game-changer for planning and management decisions. By analyzing user interactions, conversion funnels, and drop-off points, you can pinpoint key areas for optimization. This helps you make data-driven choices about where to focus efforts for the biggest impact on UX and business metrics. Tools like Mixpanel, Amplitude and Heap make it easier than ever to derive actionable insights from your product data.
By analyzing past data, you can better predict future outcomes. This helps in planning and managing resources more effectively.
Detailed reports and dashboards offer clear visualizations, making complex data easier to understand and act upon.
Upmetrics
@steve_troy Great point! Detailed reports and dashboards transform complex data into clear, actionable insights, simplifying decision-making and strategy formulation.
Data analytics enables a more objective approach to decision-making .
Simply for me, it's how you extract the data well > how you define the correct problem based on the data > and build a correct recommendation (to note: it might as well important to address the correct stakeholder if this reco you build, has something to do with other department).
So the TLDR, if you grasp a correct problem (or insight), and moving towards a-not-ill-defined problem; for me, data analytics will surely become your best friend to move with!
Upmetrics
@evan_christopher_samosir
That sounds amazing! Extracting the right data, defining the problem accurately, and delivering well-targeted recommendations are key. Data analytics shines when you address clear, well-defined problems and involve the right stakeholders.
@evan_christophers Hi Evan, I find that you have good view about data extraction, well our team is building and AI-driven read-it-later product, may I invite you for joining our beta test for free and provide us suggestions?
@tanya_unapod Hi Tanya, surely can. How can I help you for it?
@evan_christophers Thank you so much for replying! Could you please just turn to unapod.com and sign in to use it, and your suggestions would be valuable to us😺😺
@tanya_unapod Of course! Happy to help :) Here's my overall suggestions and several questions.
Suggestions:
1. Better to give segmentation or 'heads-up' from the AI-sounder itself whether i'm already in a different news, so that I could kinda also heads-up more.
2. Its a little hassle for me to like, type this web on in a situation where i wanted to drive for example, and then fetch, and then wait for them to fetch (with in mind that it could be 1 min), and then press play, and then drive. For me its more suitable to make it an app based, and have this kind of daily auto fetch (or maybe a scheduler that we can further schedule of when we wanted to for the news to be fetched), so that I can seamlessly open this App, and then press play, no further hassles.
3. Idk but it might be more entertaining if there's some soft music in the back of AI-reader :D (idk if this is subjective or not, but I'm trying to act as a user here).
4. This is maybe a little bit more advanced, but I'm looking up into AI voice switcher, like SIRI and other voice assistant as well! Seems to be interesting for me.
Question:
1. Maybe a question, what is the accuracy of information mapping that it does not exclude important information from a website/source? Think this is so much important as well for us to keep going back (the feeling that we hold onto a good ‘AI-reader’ as well.
2. Is there a date limit for the information fetched? I want to know if there's a specific date range for the information I can retrieve, so that I know the news I read is the most up-to-date
a. Is there also a pop-up or feedback if a specific source hasn’t released any news/articles?
3. Also being curious, what are the keywords for? I mean specifically for the readers.
Feel free to ask questions/clarify to me directly on my LinkedIn page (stated in my bio)!
If you talking about information filtering from vast resources, well I think you can use some AI-driven tools to find what you need to know, then you will not struggle in several channels for getting what you want to know lol~~