What is Data Driven and how to do data-driven marketing?

The digital age makes the analysis of information more important, so in our post today we want to talk to you about data drivenone of the tools that you can use in your business to collect, organize and study data.

When you analyze the information generated, you have a better chance of being a profitable company. To know more about data driven and how to apply it, stay until the end and we’ll tell you everything.

What does Data Driven mean?

If we do the translation into Spanish, Data Driven means “driven by data”, and is defined as an applied methodology to make the best decisions, because they are collected and analyzed that come from different sources.

With the information studied, it is possible to have a clear image of the factors that are part of the market, such as:

Trends that may be generated in the future.
Posible problems.
Opportunities worth seizing.
How will your .

In addition, with this tool relevant characteristics of your suppliers, your competition and your products are known. Instead of relying on intuition or experience when making decisions, base them on reliable information.

What are Data Driven companies?

They are those that guide their strategies with data in mind obtained and study them in depth. To obtain excellent results, it is essential to use technology or digitize the business.

A data driven company It is the one in charge of implementing policies that help guarantee the integrity and privacy of the information used. This kind of business has several characteristics:

They have a great capacity for capturing and organizing data. In addition, they share them efficiently.
They carry out agile processes, that is, they are fast and competent.
They have people who are responsible for data quality.
All of their strategies, decisions, and opinions are based on factual information.
Although they usuallythe objectives that they achieve in the short or medium term are also taken as indicators.
Data is held in high esteem, but it is the people, their human capital, that drive these companies.

The companies data driven They also implement the strategy in their Human Resources departments, since it facilitates the selection of personnel. There are specialized recruitment software.

VIDEO | Data analysis: the best way to know if you are doing a good job

Data Driven as an organizational culture

But the Data Driven culture is not only applied in certain areas of the company. In order for its advantages to be visible, it must be inserted as a whole.

We can ensure that businesses that base their organizational cultures on data driven they take better decisions. they can evenbecause they know the present and future behavior of the client.

Of course once you start using the data driven, it is necessary that all the people involved in your business change their mentality, adapting to the times. The good thing is that the fruits are reaped without having to wait long, because the strategies are, without a doubt, more productive and effective.

Benefits of adopting a Data Driven approach in my business

Data that is poorly stored and disorganized makes your business lose value. To be a Data Driven company, it is necessary to understand that storing data and organizing it correctly is of vital importance.

Today, data is power. If you know how to use them to your advantage, you get benefits. We give you some reasons that prove it:

1. You know the behavior of your customers

Much of the data analyzed comes from customers, so it helps you understand their behavior and even predict it. That way, it is easier to choose an efficient strategy or .

2. You identify opportunities, trends and threats

To understand the market landscape, apply the. You will understand the real impact you are having on your customers and identify any opportunities for improvement.

Data Driven organizations, in addition to mapping opportunities, are also aware of market trends and possible threats. If you are able to identify the latter in your business, you avoid applying procedures that have negative effects.

3. Increase the speed of decision making

When it comes to decisions related to your business, we recommend that you not go by your intuition. Once analyzed, the data shows you which is the most convenient path.

4. Improve the Customer Experience and you can customize marketing strategies

Currently, CX () is highly relevant. A few years ago, customers used to rate products or services based on factors such as price and brand.

Things have changed. Surely you have already realized that now, customers choose a business or not based on the experience it offers them. Taking into account what your customers prefer implies that customize the shapes to attract them.

Some of the data that helps you in the personalization of marketing strategies and improvement in CX are:

People’s purchase history.
Types of interactions in social networks.
Promotions in which customers show interest.
Product searches in online stores.

VIDEO | 6 tips to make customer centric, a customer-centric strategy | Tips

5. You know what the best content is

The data driven It also influences content marketing, with the latter you determine what information your potential customers like the most. Studying information generated in your business helps determine the following:

What is the type of content that your customers interact with the most?
What information best suits your business?

When you know what is the most valuable content for peopleyou guide content marketing efficiently.

6. Conversions increase

The It is also relevant, as it helps conversions rise. Your goal with a website is that those who enter make purchases, register or perform any other similar action.

When the information generated in the business and on its website is analyzed, properly.

7. You manage to optimize the resources of your business

When mistakes and ineffective strategies are avoided, you save time and money. Among the advantages of data driven we can highlight the fact that, by analyzing the data, you stop investing in processes that do not add up.

How to apply a Data Driven strategy?

The database and the analysis of the same helps you to create better strategies and offers other benefits. Do you want to obtain them? Implement the data driven in your business!

Before explaining the steps to follow, you need to make sure you have the following:

Data model with the ability to analyze and record a large volume of information.
Team prepared to carry out the activities involved in the study of the data obtained.

Next, we specify the processes that you must carry out to carry out the Data Driven:

1. Defining the objectives of your business is of great importance

What do you want to achieve with data collection? How will you use the information obtained? These are questions that need an answer to apply the Data Driven strategy optimally.

It is not worth doing the analysis if you are not clear about the reason for the procedure. For an idea of the objective that you can consider, below, we name some possible uses of the data:

Improve the customer experience.
Increase sales in the following semester.

2. Determine what is relevant data and what is not

The information used is generated from very varied sources, keep in mind that not all of them are conclusive to meet the stated objectives.

Classifying the data into important and irrelevant is an excellent method to carry out a Data Driven efficient.

3. Train the work team to make an excellent analysis

Before we mentioned that it is essential to prepare your collaborators so that your business becomes a Data Driven company. It is vital that those who take part possess analytical knowledge and skills in relation to the new processes.

If you want to have a Data Driven culture, be sure to train the people who will be involved with courses or training.

VIDEO | 7 group dynamics to motivate your work teams | Tips

4. Acquire the necessary tools to collect and analyze information

When you complete the previous steps, it is time for you to provide your team with the tools to analyze data. Among the most used are Google Search Console and Google Analytics.

5. Interpret the data and take it into account to create a strategy

When the data has been collected, it must be analyzed to obtain results that are possible to interpret. Taking into account the interpretation you can do the following:

Create strategies.
Make accurate decisions.
Anticipate the behavior of your customers.
Make adjustments in content marketing.
Verify that the results are as desired.
Determine if what you do contributes to achieving the objectives of your business.

Differences between Data Driven, Big Data and Data Analytics

First, let’s explain the difference between Data Driven Y. When we mentioned before that a company that applies the strategy we are focusing on needs a data model, we were referring to Big Data.

These two strategies are not the same, since Big Data is necessary to apply Data Driven efficiently. With the first technique it is possible to extract useful data for the proper functioning of the business.

The difference between data driven and Data Analytics is that the latter is necessary to translate the relevant information for your business. Therefore, although the three tools are different, they complement each other perfectly.

Examples of Data Driven companies

Because it is such a useful strategy, we have quite a few well-known examples of organizations using it. The results will encourage you to follow the steps to implement it in your business.

1. Uber

A perfect example of Data Driven is Uber. The operation of this platform is simple, you enter, select the destination and a driver will pick you up at the selected location.

To function optimally, Uber has a database enormous, with which they identify the driver who is closest to the user. In addition, with the analyzed information the following is achieved:

Predict the demand and offers of vehicles.
Know the possible rates.
Determine how the behavior of both those who drive and those who request transportation will be.

2.Netflix

The entertainment platform is an expert in analyzing data, in addition, it uses algorithms for recommendation. Netflix studies the behavior of each user when they are on the platform, that is, it determines which sections they visit and what they see.

Thanks to the above, when you enter your account…