5 Reasons to Consider Hiring a Data Analyst
Regardless of the shape and size of your business, analysts play a critical part in your success as a company. Analysts will help you to make sense of your organization’s data and make better decisions. Keep reading as we discover why every company needs at least one analyst to help them improve their business operations in the upcoming months.
Make Better Decisions
With so much data to review and process, it can be impossible sometimes for business owners and employees to keep up and make good decisions. Technology is continuing to improve at a rapid rate, but this can often bring challenges for your sales and marketing teams. An analyst will be solely focused on reviewing data, drawing insights, forecasting future outcomes, and providing objective recommendations based on data. They’ll keep up to date with current trends in the industry and ensure your business strategy remains competitive. No project is too small or big for a good analyst, who will take your company’s decision-making skills to the next level when you start working together..
Understand Customer Behaviors
There’s no denying that customer behavior has shifted dramatically due to the recent pandemic. Key attributes in buyer personas are shifting rapidly, and if your business doesn’t keep up with changing demands, you’ll find that you lose many of your existing customers or struggle to retain existing ones. Media today has a huge influence on buying decisions, but thanks to artificial intelligence and algorithms that are available to analysts, you can start forecasting the future of customer behaviors within your industry. At Predictive Data Lab, our team offers predictive analytics to work alongside your in-house analysts or as an addition to your team. We help with the digitalization of the data process, and businesses of any size can benefit from our assistance.
Create a Back-Up Plan
The past year has thrown its fair share of curveballs to businesses across the country. Alongside the digital transformation of the past years, many companies are struggling to keep up with the changes within their market segment. In order to succeed in the business world currently, you need to be flexible and ready to adapt to change at any time. AI and statistical modeling offer you the tools you need to create not only a plan A but also a backup plan if things don’t work out as planned. This is one of the biggest advantages of adding an analyst to your team, as you’ll always be prepared for any challenge that comes your way in the future.
Identify New Store or Business Locations
If you are looking to take your business to the next level this year, our analysis and business intelligence tools will help to identify new locations for your expansion. For startups and companies that are working within a saturated market, it can be challenging to find the locations which would be best for your new store, office, or restaurant. Analysts will help you to scale and grow your business, thanks to the recommendations and research they can offer about where your business has the potential to expand. By looking at past and current trends, they can use forecasting to identify gaps in any market for the upcoming years. Even in this challenging time, many businesses are finding they have the opportunity to expand and start recouping some of the lost profits of the past two years.
We have also worked with clients who want to expand their business by transitioning into e-commerce, not having a clear idea of which platform is the most effective channel for them to choose from to market and sell their products. Because there are so many options when it comes to e-commerce such as Amazon, Shopify, Walmart, and Etsy, just to mention a few, it can be overwhelming to compare and choose the best option according to the client’s product, service, industry, or business size. However, having the expertise of an analyst who can do the research for you as a decision-maker, is a game-changer.
Analysts Work Alongside Predictive Analytics
Here at Predictive Data Lab, we offer predictive analytics which goes far beyond just a dashboard. We’ll use machine learning and algorithms to identify future trends and outcomes based on data from the past. Even if you have a team of analysts in-house, you’ll find that we can act as an extension of your team. Especially with the concerns of the past year and hiring new employees, we can offer a more cost-effective solution than just expanding your team. We’ll work alongside your analysts to identify the key attributes within your market and ensure you are on the right path to success in any area of your business.
No company is too small to benefit from working with analysts and predictive analytics. We will work alongside your analysts to make sense of your data and help you to make better decisions. There’s no denying that the past year or two has been tough on many companies, but by taking the right steps to make better decisions in the future, you can start setting yourself up for success once again.
For more information about working with Predictive Data Lab and the services we offer, don’t hesitate to contact our team today. We’ll be happy to discuss any questions you have and help you to achieve your goals in the upcoming months.
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Carlos Casas De La Garza
CEO & Principal Analyst
We seek to empower
you by becoming a true extension of your team
At Predictive Data Lab, we are passionate, data-driven professionals who love to find solutions to complex problems. We focus in providing key solutions in your data, research and analysis. At our core, we are educators and partners.