Apart from your financial data, what other data can help you with your business? We look at the best data to help you run your business.
Best data to help you run your business
There is a lot of data available for you to use to inform your decisions. For example, if your website is an important source of sales, make sure you are fully using the free data available through Google Analytics or from your website platform. This will give you information about how people find your website, which pages they visit, and where they exit.
All the social media platforms provide analytics that you can use to find out more about who is following you, where you get engagement and what content resonates with your audience.
Supply chain data can be useful too. If you’re involved in manufacturing or distribution, data related to your supply chain, inventory levels and logistics can help you optimise operations, reduce costs and improve your delivery systems.
Customer feedback and surveys will give you valuable information about your service and even about your competitors. Asking the right questions can be an art, so make sure you either test your questions first or you bring in a marketing expert to give you some help.
Employee feedback is extremely useful. Your employees are advocates for your business and they often have insights into what customers like, what they need and where you could improve. Not only that, but trained employees are worth retaining as they can be hard (and expensive) to replace.
AIMS accountants are business owners just like you. We are experts in financial data interpretation, but we also understand the wider business context. To find out how we can help you, please talk to us.
We’d love to help you invest in and grow your business. You can find your nearest AIMS accountant here.