“Actionable insights” seems to be a buzzword that people have been using lately, but it’s not clear that the distinction is fully recognized. Data, analytics, and insights are not the same thing, but we use them interchangeably. Let’s break down the differences:
Data: any character, text, word, number, and, if not put into context, means little or nothing to a human.
Analytics: the discovery of patterns and trends extracted from your data.
Insights: the value obtained through the use of analytics.
Actionable insights are the primary reason why data is collected in the first place.
If your insights don’t allow you to take action, they don’t carry much weight. According to KPMG, 96% of major corporations admit they could be making better use of their data. This problem stems from the problem that many companies struggle to point out how their analysis directly leads to profitable change.
You have to come up with an effective strategy to uncover actionable insights as. Start with clean and organized data and clearly-identified KPIs.
Acting on the data you collect will ultimately increase your customer’s experience with your brand during every step of their journey with your products, and better customer experience means happier customers, which means more revenue per customer.
Even after the hot trend is over and another buzzword will take its place, the need for actionable insights will still remain. Command Alkon’s software’s actionable insight discovery capabilities actually deliver accessibility to the answers you need.
Don’t miss the chance to truly understand your business and your customers – harness your data, analytics, and resulting insight to grow your business! Chat with us for a quick 15 minutes to understand how actionable insights can reshape your entire business.