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SigmaWay Blog tries to aggregate original and third party content for the site users. It caters to articles on Process Improvement, Lean Six Sigma, Analytics, Market Intelligence, Training ,IT Services and industries which SigmaWay caters to

Data Science to boost your Brand

By definition, Data Science is a multi-disciplinary field that uses scientific methods, algorithms and systems to extract knowledge from structured and unstructured data. It processes enormous volume of information to draw meaningful conclusion and help businesses grow and expand.

Some of the biggest advantages analyzing data can give to your brand include improving efficiency, cut costs, boost sales, better recruitment, identifying opportunities and targeting the right set of audience to name a few.

Focusing on the practical ideas, four ways you can use big data to raise brand awareness include:

1.      Personalization: Analyzing consumer related information helps in understanding their preferences on an individual level. You can customize offers so as to fit each user individually.

2.      Choose the most relevant marketing channels: Brand awareness largely depends on marketing strategy and the channels you choose to promote business. For instance, Instagram marketing may help you attract younger users while marketing on LinkedIn gathers business professionals.

3.      Create better content: Data analytics enables you to learn about the buying persona such as education, relationship status, professional status, personal interests, demographics, leisure time activities, etc.

4.      Quality reporting: Using data science you can figure out the strengths and weaknesses of the brand, website traffic, social media performance and many other features.

 

Have you ever thought about incorporating data science into your business strategy?

Details at: https://www.business.com/articles/drive-business-growth-with-analytics/

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Benchmarking one's marketing performance over competitors

Too much focus on revenue driving marketing tactics may lead one to overlook the bigger picture, that separates the best marketers from the mediocre ones. In this article, Anna Kayfitz(consultant for StrategicDB), discussed about quick and easy dashboards that measures the marketers against his competitors. First is website performance metrics. The important metrics in this regard are the average number of website visitors, bounce rate, site speed, etc. For instance, if your website has a high page-load time compared with your competitors, that will impact your page rankings, bounce rate, and overall customer satisfaction. Also the percentage of visitors coming from different regions are critical for the company plans to expand beyond its geographical presence. Mining for more data is the next important thing. Carrying out SEO/PPC research and using social media and PR effectively provide powerful insights. Lastly, It is advisable to do a competitive analysis prior to changing strategy, launching a new product, or making tactical plans for the next quarter or year. Read more at:

http://www.marketingprofs.com/articles/2016/29418/how-to-benchmark-your-marketing-performance-against-your-competitions

 

 

 

 

 

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