Business analytics play a big part in the corporate world. You might be skeptical about that statement, but studying data and figures is the reason why large corporations stay on top of their chosen industries. Take online retail giants Amazon as an example. When they altered their recommendations system so that it became part of the entire browsing and purchasing … [Read more...] about Why You Need to Pay Attention to Analytics in Business
Analyzing the Business
Why You Should Be Using Analytics to Drive Your Home Business Growth
Analytics is one of the most powerful tools in your home business’s arsenal. There’s a huge amount of information available to any business that is ready to embrace it; data is one of, if not the most important resources that a company can possess. Using data allows you to drive change, increase positive results, and support the steady growth of your business. Being … [Read more...] about Why You Should Be Using Analytics to Drive Your Home Business Growth
5 Examples of Data Visualization Useful for Any Company
Data visualization has been around since before computers even existed. And anyone who has used Excel after taking Spreadsheeto’s tutorial has created charts and graphs to illustrate the insights hidden inside of data. But despite how common data visualization really is, it still has a reputation as a "cutting-edge" or "high-tech" business tool. It's true that data … [Read more...] about 5 Examples of Data Visualization Useful for Any Company
Starting a Wine Bistro: Researching the Market
QUESTION on Doing Market Research Before Starting a Wine Bistro I am just starting to develop a business plan for a wine bistro in a suburban downtown area. What are my best methods or resources for market research? How do I determine if the area will be receptive to this business or if there is room for another restaurant in town? Thank you. -- … [Read more...] about Starting a Wine Bistro: Researching the Market
Do You Know the Strengths and Weaknesses of Your Business?
An entrepreneur should be ready to face different challenges head-on with a well-thought out plan. The market is in a constant state of flux, and your competitors are always thinking of something to get more of the market share. You need to map out strategies that could help your business get ahead of the competition an attain success. You need to take time to understand … [Read more...] about Do You Know the Strengths and Weaknesses of Your Business?
How to Use Business Intelligence in Your Small Business
Good Business Intelligence will provide answers to your questions. Great Business Intelligence will answer the questions you wish you had asked. So how do you ensure that your Business Intelligence is great Business Intelligence? The first step is to develop a definitive picture of what you want the BI to deliver. Never lose track of core idea: BI should provide answers … [Read more...] about How to Use Business Intelligence in Your Small Business
Business Intelligence: Secret Weapon to Successful Business
Unlock your company's most valuable resource with Business Intelligence. Remember IT? Information Technology? It seems many businesses forgot that the computer age was supposed to be about information and efficiency. Instead, the entire computer industry became about the collection of data for its own sake. In recent years the concept of Business Intelligence (BI) has … [Read more...] about Business Intelligence: Secret Weapon to Successful Business
A Practical Framework for Website Analysis
Top management has approached your marketing team with a report stating the following: Revenues from your online store are non-existent The number of visitors to your site has been rapidly decreasing since the launch two months ago Your two main competitors are present on the main search engines using the popular buzzwords in your industry and your site is buried … [Read more...] about A Practical Framework for Website Analysis
How a SWOT Analysis Can Benefit Your Small Business
Regardless of how you are traveling, you won't get very far without knowing where you are going. That a Business Vision is needed to provide strategic focus in a business, is almost self-evident. But it is also important that you understand where your business is coming from. The current state of your business is an integral part of your business strategy. If it isn't … [Read more...] about How a SWOT Analysis Can Benefit Your Small Business
SWOT Analysis for Small Business
When conducting strategic planning for any company - online and/or offline - it is useful to complete an analysis that takes into account not only your own business, but your competitor's businesses and the current business environment as well. SWOT analysis is one such example. Completing a SWOT analysis helps you identify ways to minimize the affect of weaknesses in … [Read more...] about SWOT Analysis for Small Business
