Overcoming Business Growth Obstacles with Custom Data Dashboards
The lessons learned in 2020 didn’t stay in 2020. Did you learn how to stretch a budget? Need to change your audience targeting? Realize you rely a bit more on your gut instincts than you thought you did?
Overall, worldwide advertising spend was down 4.9% in 2020, and even though it is anticipated to rebound in 2021 — chances are you still feel that being able to maximize every dollar and prove positive impact on your company’s business objectives is of the utmost importance.
Having a robust data dashboard provides insights into your business marketing performance, your customer demographics, your digital interactions and more — all of which lead to being able to make quick, data-based decisions to optimize your campaigns as part of being a data-driven organization.
However, 23% of business decision makers feel the dashboards they currently utilize are not fit for their purpose, while 32% feel they don’t have enough information and need to tap into additional data sources. Furthermore, 21% feel they lack access to historical and legacy data. You are probably familiar with data consolidation — bringing together your data sources to create one singular location — but building a dashboard customized for your company offers so much more than that and guarantees it delivers exactly what you need to make the best decisions to propel your business forward.
Capabilities to consider:
- Attribution Modeling – Measures the impact of different media channels through a variety of custom attributions, you don’t just need to rely on last-touch or first-touch
- Custom Data Visualization – Analyze data from different angles and present the story in a way that wins hearts and minds.
- Media Mix Modeling – Maximizes your ROI with optimal budget allocation
- Pacing Dashboards – Answers instantly whether you are where you should be in terms of spend and KPI performance
- Conversion Journey Analysis – Identifies patterns in customers’ engagement and interactions with your brand through various channels
- Data Forecasting – Predicts the future based on the past and informs on strategy opportunities
Of course, having access to your data and generating reports is step one to overcome any business growth challenges. Now you need to read, analyze, and interpret that data in order to create and implement data-informed strategies. You may be able to accomplish this with your in-house Business Intelligence team. However, you may not have that structure in place, and that’s okay — RADaR is here to act as an extension of your organization to help you not just overcome your identified business challenges but to also generate the growth you are looking for.