Why it’s important to be data-driven
Data is EVERYWHERE. You can collect it from your own site, get it from social networks, get it from other websites – there are limitless ways to find data to make informed decisions. But not everyone is tapping into the KEY benefits of data-driven decision making, so I’ll spell out the main advantages of operating ‘data-mindedly’ for you.
What is Data Intelligence?
Data Intelligence is the ability to understand and use your data in such a way that it promotes better decision-making in the future. The data can be either structured or unstructured. Data intelligence deals with estimation, predictions, decision-making support, pattern discovery, better understanding historic behaviour and approximating the future using all of this data.
Why do we need to make decisions based on data?
Two words: big data. The more data we have, the better conclusions we can draw. As the saying goes, there is no knowledge that isn’t power – especially in an ever-evolving digital world. Sometimes decision making may feel overwhelming and difficult, especially when you’re considering a litany of information sources. A wise investor starts thinking about simplifying decisions by asking a few critical questions:
- Is it going to impact revenue?
- Is it going to increase customer satisfaction?
- Is it going to be measurable?
And that’s just for starters.
The advantages of making decisions based on data
Data is a powerful resource that is inexpensive and readily available for you to use in order to make smart decisions. You can’t make good business decisions unless you have the data to back them up. Think of it this way: while some businesses may operate based on intuition, data-driven companies are more likely to be successful because they have a better understanding of what their customers want.
In essence, making decisions based solely on your gut without any sort of data already predefined will not enable you to understand your customer fully and thus you will lack true success.
About this talk
In 2019 Alpha (nowadays Feedback Loop) asked 300 managers if they used data to make decisions – while 91% said they thought it was important only 22% used data on a regular basis.
From nailing seasonality to understanding your competition and opportunities for business expansion, search data is the neglected missing link.
In this session, Matthew Colebourne, CEO of Searchmetrics in the UK, shares the benefits of using search data to inform strategic decisions, enhance your marketing strategy and achieve your business goals.
Who is Matthew Colebourne
Matthew Colebourne is the CEO of Searchmetrics. He brings outstanding management ability as well as profound experiences from various senior leadership roles in the digital marketing area. Moreover, Matthew has an extensive track record of scaling technology businesses.
Before joining Searchmetrics in January 2020, Matthew served as EMEA Managing Director at Innovid, which he joined from Trinity Mirror, one of the UK’s leading regional publishers. Beforehand, he was the European VP International for DoubleClick. He also managed the turnaround to profitability of paid search company, eSpotting, before its sale to FindWhat. Matthew is internationally-minded and has worked in Europe, USA and Asia.
BrightonSEO – is a major search marketing event in the UK. One of our favourite events of the year, This is a superb conference for search marketing professionals, novice or expert. BrightonSEO is a chance to learn from some of the best minds in search, and then rub shoulders with them at one of the friendliest, and largest, gatherings of Digital Marketers in Europe.
“At the heart of good decision making is good data. Data can let you know when, where and how it happened. That means fewer guessing games and fewer incorrect assumptions, both of which lead to bad decisions in the long run.”
Leave a Reply