Key Influencer Analytics: What Is It and Why is It Important?
No matter the size of your business or in what industry your market is involved, the concept of analytics is more important today than ever before. Businesses competing locally or on a global scale are all engaged in market competition and, in order to grow and succeed, every business must understand its competitors, its own products and services, and most importantly, its customers and what products they are buying. Businesses must build and monitor and manage processes and activities, all with the goal of being the most productive and responsive in the market.
‘Key Influencer Analytics can cut through the noise and confusion to find the real relationships and impact of decisions for your targets.’
Augmented Analytics and more specifically, Key Influencer Analytics can help your business achieve its goals. In this article, we define Key Influencer Analytics and provide a few reasons why your business should consider this important capability.
You may be interested to learn that Gartner recently predicted, ‘By 2025, data stories will be the most widespread way of consuming analytics, and 75% of stories will be automatically generated using augmented analytics techniques.’ Using augmented analytics, key influencer analytics and user-friendly tools designed to simplify analytics with key features that allow users to gain insight and to truly understand the impact of business decisions, and key activities and tasks, is a crucial step toward success. And, it can help you tell the story, to provide metrics related to impact and relationships so that decisions are clearer and based on facts.
So, what is Key Influencer Analytics and why is it so important to your business?
Key Influencer Analytics: Defined
In order to establish and sustain a competitive edge, you must know what impacts your success and what data you will need to analyze to get those all-important nuggets of information that will drive your success. One of the most frustrating tasks a business user has in analytics is finding and gathering the right data for analysis and ensuring that all factors, variables and data that may affect the outcome of the analysis is included. That is why these activities are typically performed by Data Scientists, analysts or IT in many organizations. Depending on the size of the dataset a user selects, there may be hundreds or thousands of variables, and business users often find it difficult to identify the rights ones. Yet without the ability to identify the right variables, the business is likely to measure and attend to the wrong things. Key Influencer Analytics provides the power and clarity of targeted analytics for business users. Team members can simply point to the dataset they want to analyze and Key Influencer Analytics identifies the target and the influencers or predictors that will affect the target, along with its impact and it provides crucial metrics such as mean, outliers, and others and identifies relationship and distribution among variables. The system will auto-suggest relationships and present distribution and impact using the most appropriate visualization.
Why is Key Influencer Analytics Important For Your Business?
By identifying the key influencing factors and relationships among your products, features, services, customers, marketing campaigns, etc., the business can avoid missteps and solve problems and most importantly capitalize on opportunities to improve and gain visibility. Stop doing what isn’t helping and start doing what will get you to your goal! A software solution that can see beyond guesswork to identify the relationships and impact based on machine learning – that is more likely to support your needs than a ‘dart board’ approach. The solution can interpret insight using simple language, so users don’t have to be data scientists to understand the results. It can reveal the key influencers with the most impact on the target. Users enjoy interactive features that allow them to see and explore other combinations and impacts and can select target and predictors, and use them for models, reports or KPIs. Key Influencer Analytics empowers every business user and allows them quickly select and target data to achieve results without the assistance of a data scientist, IT professional or analyst.
- Identify what matters most in your data!
- Understand the impact and interdependence of variables
- Leverage auto-suggestions and machine learning to get data insights
- Identify influencers affecting the target variable with auto-suggestions and quick maneuvers using different combinations
- Avoid missteps in the market
- Become more productive
- Use metrics to make decisions
‘Augmented Analytics and more specifically, Key Influencer Analytics can help your business achieve its goals.’
The bottom line is that Key Influencer Analytics can cut through the noise and confusion to find the real relationships and impact of decisions for your targets and, in so doing, can help you to refine your strategies and focus on the activities, products, features and customers that will have the greatest positive impact on your business.