Despite all the talk about major corporations these days, it is still small businesses that ultimately make or break the economy. Responsible for creating numerous jobs and delivering goods and services to every facet of society, small businesses everywhere deal with a variety of issues each day. For any business to succeed, being able to quickly and accurately analyze data is a must. Due to their size, small businesses have little if any margin for error when it comes to figuring out what works and what doesn’t. There are many data points small businesses need to be concerned about, and one of the best ways to analyze these points and illustrate key areas of interest is by using a data dashboard. Because most people learn quickest through visual stimulation, these tools allow businesses to get their message across by drawing attention to key points while discovering patterns or other observations that may otherwise go unnoticed.
Where Should We Invest Our Advertising Dollars?
For any small business, this is one of the most important questions that is asked each year. With the rise of big-box chains, small businesses have seen their struggle to survive get much tougher. Knowing how to wisely invest advertising dollars can go far in determining the survival of a small business, and there are a number of visualization tools to help cut through the fluff and get to the point. One of the best tools is jQuery Visualize, which is used by many businesses to display charts depicting various aspects of a business in a very user-friendly manner. It can use many different charts to display various advertising avenues, how much money was spent on each, what percentage of sales were attributed to each form of advertising and other information.
Who Is Our Typical Customer?
Any business, big or small, realizes they need to know everything possible about their customers. Demographics are the key to success when it comes to knowing such aspects of customers as their age, what they buy, how much money they spend on a typical purchase, how often they purchase from the business and more. Again, visualization tools can take the data that’s been collected and present it in a format that’s easy to understand and drives home the key points. One of the best tools for this is also one of the most well-known programs used by businesses everywhere. Excel, part of the Microsoft Office package, is still considered the leading software for use in analyzing data quickly and easily. Used extensively for internal analysis, it allows managers and business owners to pull together large amounts of data and organize it in a manner that lets them and their employees disseminate key areas to better understand the overall message.
What Percentage of Our Sales are Online?
As brick-and-mortar shopping continues to fall by the wayside, more small businesses are turning to online sales as a way to increase revenue and stay relevant in the marketplace. Businesses that take their online presence seriously and are determined to be major competitors in their industry are always examining how they can improve sales, particularly online sales. As with demographics and advertising dollars, knowing how much business is being conducted online can play a pivotal role when it comes to hiring and training new employees, expansion plans and inventory levels. A great visualization tool to analyze this area of business is Visualize Free. This tool allows users to upload their information and create interactive charts and graphics to illustrate important points. Very popular with small businesses, it’s known for being very user-friendly while using visuals that keep everyone interested and on topic.
Small businesses which examine these data points carefully by using these visualization tools will be able to stay ahead of the competition and increase their efficiency. By doing so, not only will levels of customer satisfaction increase, but also company revenues, profits and accountability.