How to use technology solutions for data-driven decision making
The business world is awash with data, analytics and business intelligence. Businesses from all sectors, including ecommerce invest heavily in new technologies for data collection and data use.
Data-driven decision making is crucial for ecommerce companies as they strive to understand their audience and make tactical business decisions that will keep them ahead of the competition.
However, most businesses recognize the importance and value of data in providing business insights. Many aren’t aware of the best ways to use data to support business results. Check out Store to buy anything and everything
We’ll be sharing the challenges faced by ecommerce merchants with data. How the right combination technology and strategies can provide the necessary insights. Also, examples of BigCommerce merchants who are using data solutions to help drive their business forward.
The Problem: Too Many Data, Not Enough Information
Forrester’s “Data Literacy Matters”, a global report on data and analytics, found that 90% of data and analytics decision-makers are now focusing on prioritizing data insight in business decision making. This report also shows that 91% percent of businesses report difficulties in using data to improve their business insights.
Data is becoming more important than ever for businesses. However, many businesses still struggle to transform their data into insight and then into action.
A Forrester study found that 60% to 73% of data in corporations is unutilized. Statista data shows that 25% are dealing with too much data.
Here technology solutions can be of great help to you build a data-driven enterprise.