Data is basically raw information or facts that you collect about something, like the number of visitors on your website, the number of social media followers or how many online sales you made in a month.
Collecting data is important because it gives you a starting point to work from. You need to know where you’re at in order to figure out where you want to go. And the more data you collect, the better you’ll understand your business and your customers.
In the olden times, there was just a little data to collect. But with the digital revolution, we are witnessing an ever increasing inflow of data – and it is hard to make sense and meaning of it.
Collecting data isn’t enough. Think of data like the separate pieces of a puzzle – they don’t make much sense when you open the box, right?
That’s where analytics kick in.
Analytics is like detective work for your business. It’s when you take the data you’ve collected and try to make sense of it. You might use math and statistics to identify patterns and trends in the data to see if you can learn something from it.
Analytics is important because it helps you understand what’s happening in your business. It allows you to see which marketing campaigns are working, which products are selling the best, and which customers are most valuable to your business.
But analytics isn’t just about looking at numbers. It’s about finding the stories behind the numbers. It’s about understanding why something is happening, not just what is happening. And by doing that, you can make better decisions that will help you improve your business.
Looking back at the puzzle pieces analogy – it’s like putting some of the pieces together and starting to make sense of the picture.
But you are still not seeing the big picture, right? Enter OPTICS.
Optics is like seeing the big picture for your business. It’s when you take the insights you’ve gained from analyzing your data and figure out what you can do differently in the future to improve your business.
But optics isn’t just about understanding what happened in the past. It’s about using that information to plan for the future.
It’s the puzzle coming together!
At Matteen Advisory & Solutions we are willing and happy to help you with this three-step process! Let us set the data, analytics and help you with a beautiful, custom OPTICS report to make sense of the numbers!