Making Business Decisions with Analytics

If you aren’t using or paying attention to your analytics when making business decisions, then you may not be making the best decisions for your company. Analytics are extremely important for knowing and understanding your customers. They can help us assess the outcomes over target standards and goals, the relationships between factors and outcomes, and understand what improvements and changes need to be made. Let’s look at the ways in which analytics can help make better business decisions in details below:

There are different types of analytics that focus on different areas of our businesses to help us better understand our business overall. They help us determine what our business objectives are, translate those data into goals and create project assessments and new plans.

Predictive Analytics is a type of analysis that assesses all current and historical facts of our business to help us predict what our future outcomes will be. It identifies patterns through record numbers to help identify the risks or opportunities that may come to rise. This is called Data Mining. It also helps model the relationships between the different factors that can be of risk or bring opportunities for our business.

Descriptive Analytics looks at past data information to help assess and understand why there was success or failure in our business’ strategy. This is important to help us learn of areas where improvements or changes need to be made in our strategies.

Overall, having the right analytics tools can be crucial to our business decisions. Not only do they help us to better understand our clients and business but also, they are extremely useful for creating reports and summarizing the overall data. They collect the initial data, describe them, and help verify the quality of the data. By using analytics you can save half the time and effort in creating reports.

Tips to Make Your Annual Report Stand Out

An Annual Report can do more than just detail the financial health and investments of your company for shareholders. It is also an invaluable marketing tool for consumers and potential investors. With an Annual Report proving to be so critical to your business regardless of size, it is important to make this report stand out.  Let’s look at some tips from business experts on how to make your report stand apart from your competition.

  1. Grab the Readers Attention from the very start – Your report’s title is your best chance to catch your readers’ attention – and to make your case. Your heading and subheadings should be well written and use action words to catch the readers attention.
  2. Use Professional Photography – A professional photographer will not only help you tell your story, but it will make a lasting impression on your shareholders when they get the report and flip through the pages to find beautiful, crisp and clear images guiding them through the year in review.  Unique and custom pictures go a lot further than purchased stock photos in telling your company’s story.
  3. Color, Design and Charts – Stop using black and white designs and charts from Excel to make your charts and spreadsheets.  Hire a designer to pull together a cohesive design that integrates your business logo, colors, font and overall brand “look” into a beautiful report.  Don’t be afraid to add color where you want items to stand out.
  4. Include a Call to Action – According to business expert Zoe Amar – Head of Marketing and Business Development at Lasa, “You need a strong call to action at the end of your report. Make it clear what you’d like your audience to do once they’ve read it – donate, purchase services etc.”
  5. Make it Flow – According to Heather Border at Warschawski, “Make the report read like a story.”  Overcrowding sections with facts and highlights will make a reader confused and stranded in a sea of copy. Break your content down into chapters and your chapters down into sections. Write it as if you are having a conversation with another person and telling an exciting story about the awesome year you had as a company.