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[outsourcingwise]

Unleashing the Power of Data Analytics & Reporting: A Guide to Enhanced Decision-Making

In today's fast-paced business landscape, data reigns supreme. Every click, purchase, and interaction generate a wealth of valuable information waiting to be analysed and utilized. The ability to harness this data effectively through analytics and reporting can make all the difference between thriving and merely surviving in the competitive marketplace.

The Role of Data Analytics & Reporting

Data analytics involves examining raw data to draw conclusions and insights, while reporting involves presenting these findings in a structured format to facilitate decision-making. Together, they provide businesses with the necessary tools to understand customer behaviour, optimize processes, and drive strategic initiatives.

Importance of Data Analytics:

1. Informed Decision-Making: By analysing past trends and patterns, businesses can make data-driven decisions rather than relying on intuition or guesswork.

2. Competitive Advantage: Companies that leverage data analytics gain a competitive edge by identifying opportunities for growth, improving efficiency, and mitigating risks.

3. Enhanced Customer Experience: Understanding customer preferences and behavior enables personalized marketing efforts, leading to higher customer satisfaction and loyalty.

Significance of Reporting:

1. Communication of Insights: Reports serve as a means to communicate key findings, trends, and metrics to stakeholders, facilitating understanding and alignment across the organization.

2. Performance Tracking: Regular reporting allows businesses to monitor performance against goals and objectives, enabling timely adjustments and course corrections.

3. Compliance and Accountability: Reporting plays a crucial role in meeting regulatory requirements, ensuring transparency, and holding individuals and departments accountable for their actions.

Leveraging Outsourcingwise Consulting's Training for Data Analytics & Reporting

In the realm of data analytics and reporting, staying abreast of the latest tools, techniques, and best practices is essential for success. This is where Outsourcingwise Consulting's training programs come into play, offering comprehensive courses designed to equip professionals with the skills needed to excel in this field.

Cutting-Edge Curriculum:

Outsourcingwise Consulting's training curriculum covers a wide range of topics, including:

- Data Collection and Preparation: Understanding data sources, cleaning, and transforming raw data into usable formats.

- Statistical Analysis: Applying statistical methods to uncover patterns, correlations, and trends within the data.

- Data Visualization: Communicating insights effectively through charts, graphs, and dashboards.

- Reporting Tools: Utilizing industry-leading reporting tools such as Tableau, Power BI, and Google Data Studio to create compelling reports.

- Advanced Analytics Techniques: Delving into predictive analytics, machine learning, and AI for more sophisticated analysis and forecasting.

Hands-On Learning:

One of the key features of Outsourcingwise Consulting's training programs is their emphasis on practical, hands-on learning. Participants could work on real-world projects, applying their newly acquired skills to solve actual business problems. This experiential learning approach ensures that participants are not just theory-smart but also equipped with the practical know-how to tackle challenges in the workplace.

Expert Guidance:

The trainers at Outsourcingwise Consulting are seasoned professionals with extensive experience in the field of data analytics and reporting. They bring their wealth of knowledge and expertise to the training sessions, providing valuable insights, tips, and guidance to participants. Whether you're a beginner looking to build a solid foundation or an experienced professional seeking to deepen your skills, the trainers at Outsourcingwise Consulting are committed to helping you achieve your goals.

Career Advancement Opportunities:

In today's job market, proficiency in data analytics and reporting is in high demand across industries. By completing Outsourcingwise Consulting's training programs, participants not only enhance their skill set but also position themselves for career advancement opportunities. Whether it's securing a promotion within their current organization or transitioning to a new role in a different industry, the skills acquired through Outsourcingwise Consulting's training can open doors to exciting career prospects.

Conclusion

In conclusion, data analytics and reporting play a pivotal role in driving informed decision-making, enhancing organizational performance, and gaining a competitive edge in the marketplace. By leveraging Outsourcingwise Consulting's training programs, professionals can acquire the skills and knowledge needed to excel in this dynamic and rapidly evolving field. Whether you're a business leader seeking to unlock the full potential of your data or an aspiring data analyst looking to kick-start your career, Outsourcingwise Consulting offers the expertise and resources to help you succeed. Embrace the power of data analytics and reporting today, and chart a course towards a brighter, more data-driven future.

[scopethings-blog]

Scope Computers

Scope Computers

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[dataanalyticscoursedelhis-blog]

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[datalearn]

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[datamaster]

DataLearner

[globalteachonline]

What you'll learn Code a Backbone js app with an Online IDEUnderstand and use Backbone library componentsCompose functional components in Backbone's MVC paradigmUse Backbone Models to manage application dataLearn to raise & handle Events in BackboneImplement Backbone's powerful RouterImplement Backbone Views to control an appStyle a Backbone app with BootstrapUnderstand what Backbone is all about, and how it can help you as a developer ... and much, much more!By its nature, working on a web application usually involves a lot of JavaScript (duh). And as any developer will tell you, it often doesn't take long for your JS code start winding through a whole heap of other elements like HTML UI speed ramps, jQuery roundabouts, and who knows what else. For complex applications a more structured approach can make life easier for everyone. Enter Backbone.js, the JavaScript framework that does exactly that. Here's what this Backbone.js online course can show you...    The Backbone of Web App Development Get to know Backbone.js and how it can help you   Code a Backbone app with an online IDE   Compose functional components in Backbone's MVC paradigm   Raise and handle Events   Implement Views to control and app    Use Models to manage application data   And much more!        Understand Models, Events, Views and More The core of Backbone.js is representing your data through Models which can be created, validated, destroyed and saved to the server, and Views that display the model's state and respond to changes. So after a quick introduction, this is what you'll learn first.     Having laid that foundation, you'll move onto the other important concepts of Backbone such as Events, namespacing, templating, routing, and much more. You'll then build a guestbook app and style it to perfection with Bootstrap. Additional resources and hands-on tutoring will help you every step of the way, no matter what your skills or experience level. By the end of the course material, you'll be well equipped to use Backbone for developing your own web apps, and will have a greater understanding of how frameworks can elevate your developing skills (and make your life a whole lot less stressful, too). Although intended for IT professionals, hobbyists are more than suitable for taking this course too. Some experience in creating web UIs with JavScript tools would be an advantage, as would programming with a common object-oriented or scripting language. However, you don't need any Backbone experience whatsoever. We'll teach you everything you need to know!    What is Backbone?    Backbone.js is a JavaScript framework designed for developing single page web applications and for synchronizing various elements of web apps. It was created by Jeremy Ashkenas (of CoffeeScript and Underscore.js fame) with the intention of giving developers the freedom to design the full experience of a web application. It helps keep business logic and user interface neatly separated. Backbone is praised for being lightweight and only depending on one JavaScript library.Who this course is for:This course was built for web developers who design and build UI/UX solutions for mobile and the web. This course is designed for those developers who want to design with Backbone js as easily as they can with other JavaScript frameworks & libraries. Of course, the info presented here is just as valuable for architects, testers, and product managers as they too should understand how Backbone is designed and used in a complete web solution.

[professionalgrowth-julia]

HubSpot reporting

1. Fundamentals of a data-driven business

1.1 A case for data-driven decision-making

Examples of data-driven decision making

1. Analysing user behaviour 2. Identifying best-fit prospects 3. Conducting user research or beta-testing 4. Surveying support channels 5. Monitoring industry trends

data is right there, collecting data does not need to be complicated

People are driven by results and learning - teams looking to innovate and adapt around the customers: Data literacy - collect, manage, visualise and apply data

1.1.1 Collecting your data

Centralised system to connect, collect and consolidate data for teams to be empowered with fullest picture to make decisions

1.1.2 Managing your data

Learning how to organise and clean data over time

1.1.3 Visualising your data

Transform raw data into digestible format and answer questions to give you a health check

1.1.4 Applying your data

Develop cadence with stakeholders and team to continuously communicate your progress in achieving business goals

1.2 Using Data to Define Your Purpose in Business

1.2.1 Golden Circle Framework

Your “What” - the products and services you sell

Your “How” - strategies that attract, engage and delight

Your “Why” - What are you trying to achieve, change, innovate or maintain

1.2.2 SWOT Analysis

Strengths

What types of internal resources - such as time, money, effort, do you currently have? What sets your teams apart when it comes to executing the strategies that you set? What types of characteristics does your organisation bring that could help ensure that you can execute your strategy with excellence?

Weaknesses

What types of disadvantages do you and your team have when it comes to executing your current strategies? If you’ve ever had strategies like these, what could your team improve for this time around?

Opportunities

How could your current strategy help push your team or provide opportunities for growth? What milestones or achievements have you set to mark your progress along the way?

Threats

What could negatively affect the strategy you’ve put into place in order to successfully reach it?

1.2.3 The 3 Horizons 

Finding the right balance between short term activities and long term ambition 

Horizon 1 

What you are doing to power present success - goals & strategies you’ve put to extend your core business and hitting outline operating goals. Mainly sustaining your business, continue to generate revenue and optimising process efficiencies.

70% spent on executing horizon 1 plays - common for organisations to spend 80%-100%, leaving no other resources for Horizons 2 & 3.

Horizon 3

Sets goals and objectives that focus entirely on the future - long term plays to create genuinely new business models. No more than 10% of resources be spent on horizon 3 planning

Horizon 2

Focuses on transformation without losing sight of what makes horizon 1 successful as you lean into emerging innovations in the industry. Remaining 20% should focus on horizon 2 plans - preventing any fault lines between your short term and long term strategies

1.3 Data-Driven Goal Setting for Your Business

1.3.1 SMART Goals

Specific - what’s expected, why it is important, who’s involved, where it’s going to occur and which constraints are in place

Measurable - concrete criteria for measuring progress

Attainable - realistic and possible for your team to reach

Relevant - matter to business and address a core initiative

Timely - have a projected end date

Set reporting cadence and how often you are progressing towards your goals

1.3.2 Objective Key Results (OKRs)

Objective - qualitative outcome of your goals. They are significant, concrete, action-oriented and aspirational

Key results - numeric and quantitatively scored to determine whether or not your objectives are successful

Pro-tip: OKR should be ambitious enough so that you only ever hit around 60-70% of the goal you set

Efficiency is doing things right, effectiveness is doing the right things

2. Collecting Meaningful Business Data

2.1 Unpacking the Power of Integrations

Third-party applications so they can share information and provide you with more features while using software i.e. HubSpot App Marketplace

Native integrations - built by one of the software companies or parent companies that you are looking to connect i.e. Built by HubSpot

Advantages:

Troubleshooting support Free or lower cost compared to hiring a developer build a custom integration Ready-you-use, out-of-box

Custom integrations - build with specific business use cases in mind. Typically occurs when either no native integration is available, or no existing integrations have the functionalities you need. Built using Application Programming Interface (API)

Factors to consider: Time & Scale

iPaaS (Integration Platform as a Service) - for a custom solution but don’t have a developer i.e. Zapier, Mulesoft, Operations Hub

2.2 Auditing Your Tech Stack

App turnover is. higher than employee turnover

2.2.1 Start your tech stack audit

How is your company marketing to, and reaching your target audience? How are you tracking customer content interactions? Do you measure your success across a number of analytics platforms? What tools do you use to reach out to prospects via email? Do you currently use an app to enable and track events like webinars, online meetings and video conferences? How do you track customer connections across different channels?

2.2.2 Looking at the list of apps, ask

Who is using the app? At what stage of the business process is it being used? What specific features are used most often? What metrics are tracked through this app? Where is that data stored? How is it being reported on?

2.2.3 Identify value proposition of the app

Which team uses the app frequently? If this app were removed, what processes would be disrupted? How much are the competitors charging for this same functionality? When does the app contract expire? How much time and effort would it take to migrate to another app? What business needs are not being met by this app? What type of reporting or analytics would make this app more beneficial? How easy is it to use this app? 

2.2.4 Striking a balance between performance and cost

How does this app’s functionality and usage overlap with other apps? How does this app integrate with other apps? What features of the app are not currently used?

Unused apps, duplicate features and siloed data

2.3 Using the HubSpot Marketplace

HubSpot is more than software - customisable growth platform with an entire eco-system of apps and solutions partner available

3. Managing Your Business Data in HubSpot

3.1 Unpacking CRMs and Object Data

Objects: represents a specific type of thing your business has a process for tracking i.e. one for contacts, one for companies

Object database: Dividing your data into group to make it easier to search without memorising any equations or learning any equations

Custom objects: defined by users to store specific types of data that standard Hubspot objects don’t represent natively

Events: Analyse customer behaviour more granularly i.e. using events to track clicks on certain options on website navigation bar

3.2 Preparing Your CRM for Reporting

Every property has a field type - when you create a custom property, the type of information you want the property to collect and store will determine the field type to select:

Single line text - word, phrase, sentence, numeric i.e. first and last names Number properties - numeric only, more than/greater than; less than Different segmentation properties - dropdown select and multiple checkboxes Date picker property - before, after and between dates Radio-select - similar to dropdown select, different visualisation Multi-line - string of alpha numeric, paragraph/list of items  Single check box - Yes or no Calculation property - set out custom equations based on number and date properties

3.3 Auditing and Cleaning Your Data in HubSpot

Clean data is accurate, complete, consistent, uniform and accessible

3.3.1 Audit your contacts

Use HubSpot’s lists or filters to see contacts who:

Have had their emails bounced Have unsubscribed to your emails at anytime Whose last activity date was over a year ago Do not have first/last name Do not have key qualification information

3.3.2 Audit your custom properties

Single-line properties - should they be another property type? Duplicates i.e. job, job title Properties that are no longer being used Properties that are inconsistently formatted

3.3.3 Audit your workflows

Look for inactive or duplicate workflows Check for out-of-date workflows Archive old workflows Create a naming convention

3.3.4 Review your permissions

As a Super Admin,

What permissions does each member of your team currently have? What tools do they each have access to? Is there anyone whose permissions need to be changed? Are there any users that you need to delete?

As an Individual Contributor,

What tools do you currently have access to? What data do you need to be effective in your role? Does a user permission help solve that issue?

4. Driving Growth with Attract Stage Reporting

Growth Hacking - experiments and processes aimed at building and maintaining a company’s customer base

4.1 Structure experiments based on scientific method

4.1.1 Determine your objective

With a clear objective in one sentence

4.1.2 Develop your hypothesis

Cornerstone of your research - how you test your assumptions using qualitative data Use this: We believe that [assumption in present tense] because [supporting evidence] Pro Tip: Your hypothesis should be rooted in a specific user problem at a specific point in time and from a customer perspective

4.1.3 Create a prediction

If we [experiment idea] then we predict [result/metric]

4.1.4 Design your experiment

Look at various assets on website and brainstorm alternatives for design, working and layout. Other things: email subject lines, sender names, different ways to personalise your email Simple changes drive BIG improvements Choose a primary metric to run the test

Considerations when designing your experiment:

Are there any technical/operational assumptions being made in this experiment?  How would the results of this experiment impact other areas? What built-in assumptions are potential factors that may influence results?

4.1.5 Run your experiment

Need traffic volume high enough to determine a winner with confidence of the test statistical significance (test resource here)

4.1.6 Interpret your results

Include metrics such as:

Page visits Email delivered/open rate Form submissions Opportunities created Close rate Influenced MRR

Include summary of 1-2 sentences and highlighting key findings that answers the following questions:

Was your hypothesis correct? Do the results of this experiment change your perception of your customers? What are the implications, limitations and potential factors that may have impacted results? What about the results, if anything, surprised you? 

A/B Testing 

Two or more versions of a web page or email are presented to different segments of your audience. They are versatile - you can test on large and small elements of your marketing campaigns. 

Start with CTAs

i.e. instead of “Subscribe”, use “Learn more” “Get started” “Join Us”, colour, button size, position

Conduct research on your ideal customers

Website copy, blog content, social media content and advertising are created with buyer personas in mind

Use data to inform campaign decisions 

Puts customers first, ensuring all campaigns are relevant to customers

Segment your audience 

Different customer groups exist within your wider audience group. Targeted, personalised information help reach those segments

Retarget your advertising

Especially cross-channel marketers. Keep customers top of mind, by focusing on:

Click-through rate Form submission Cost per click (CPC) Cost per lead (CPL)

Create consistency across channels

Channels to work together to provide context as customers go from one channel to another.

DO: Marketing Hub Metrics

5. Unlocking the Power of Engage Stage Reporting

Revenue metrics examples:

Total revenue Revenue by product or product line Percent of revenue from new or existing business Revenue by territory or marketing Year-over-year growth

Lagging indicators measures output of something that has already happened. For example: Total sales last month Conversion rate Number of deals won/lost Average days to close Number of new customers Churn rate

Leading indicator measures inputs, progress and the future likelihood of achieving a goal. Highly manageable metrics that leaders can have control over and can be tracked by activity metrics. For example: Calls made Emails sent Conversations Meetings scheduled Demos or sales presentations Referral requests

Inspire competition by running contests

Additional metrics to consider for sales:

Quota attainment - average number of salespeople meeting or exceeding quota. Pro tip: If less than 60% of team hitting quota, quota is unrealistic; if 90% - 100% are hitting quotas, they are coasting Average deal size - total number of deals/total $ amount of deal. If moving upmarket, increase in average deal size; if looking to target SMB, reduce in deal size but ensuring increase in number of customers and deals. Helps to identify potentially risky deals Sale funnel leakage - highest number of prospects drop out of sales funnel. Track stage by stage conversion rate. Able to identify if sales people are not qualifying enough, giving bad demos or negotiating poorly.

5.1 Analysing sales content

Marketing content is produced to capture prospects' attention and generate interest. It tends to be more general and practical — like an informative blog post or infographic about an industry-relevant topic. Sales content is more pointed. It's brand- or product-specific content designed to compel prospects to buy.​

​And, yes, ‘every minute a rep spends creating content is a minute they're not selling,’ But personalized content is exceptionally important to move leads through the buyer’s journey. ​

​Many companies already have high-quality sales content on their website. By centralizing all this existing sales content into one location, reps can quickly find resources to share with leads.

DO: Sales Hub Metrics

6. Creating Momentum with Delight Stage Reporting

6.1 Net Promoter Score (NPS)

6.1.1 Quantitative

Ask customers how likely they are to recommend your business on a scale of 1 to 10. Organise response into Detractors (0-6), Passives (7-8) and Promoters (9-10). Then, subtract the percentage of Detractors from the percentage of Promoters to determine overall NPS

6.1.2 Qualitative

Knowing what the team does well, what misses the mark. Ask open ended questions like “What’s the one thing we could change for you to give us a 10 next time?“

6.2 Customer Satisfaction Survey (CSAT)

Use CSAT to capture sentiment after your customer has: Made a purchase Activated in your tool Interacted with your support or success teams

Ask questions like: How satisfied were you with your experience? Answers are a corresponding survey scale, which can be 1-3, 1-5 or 1-10, giving businesses a snapshot idea of how customers feel after completing an interaction

6.3 Customer Effort Score (CES)

Determines how difficult or easy it is to use a service from a 7-scale survey “Very Difficult” to “Very Easy”. Strongest predictor of future purchase behaviour for cross selling or referrals

6.4 Customer Lifetime Value (CLV)

Average purchase value * Average purchase frequency rate * Average customer lifespan

Gives estimated amount of revenue one customer will spend at your business

6.5 Customer Retention Cost

How much money are you spending on customers to retain them? To ensure you are making smart decisions by comparing how much you are investing in retaining a customer VS how much you want to spend in a new product or service

Total expenses of your customer success effort (payroll for success & service teams, engagement and adoption, professional services and training, and marketing) / Total # of customers

6.6 Monthly Recurring Revenue (MRR)

Total # of active customers purchase value * Average revenue per user

Gives you an idea of how much money you are generating each month

The Customer Service Metrics Calculator

DO: Service Hub Metrics

[scopethings-blog]

Scope Computers

"Empower your career with data analytics training: Transform raw data into actionable insights and drive impactful decisions."

[dsblog382]

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Learn More Python 3 the Hard Way: - Zed A. Shaw

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[wetheimmaculateme-blog]

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