The landscape for startups has dramatically shifted. With each penny holding more weight and the flow of venture capital not as generous as before, it's become critical for startups to refine and perfect their Customer Acquisition Cost (CAC). This means g ...
Over the last year, generative AI like ChatGPT has revolutionized how leaders make decisions in their day-to-day operations across industries. Because of their unprecedented ability to sift through vast amounts of data and generate instant and easy-to-und ...
It is safe to say that most people still have very little knowledge or experience with GenAI. Which leaves us with the task to find good resources that can quickly upskill the team with the right information. I recently pulled together a list of 12 onlin ...
Does “data culture” matter? We polled 300 leaders across business functions and 77% said yes, 18% said no, and the remaining 5% said it was not clear. Of the 77%, they said it has a direct impact on their strategic goals. What is the power o ...
Does it seem like 2024 is starting with more uncertainty compared to previous years? Charts like FRED certainly support that feeling. Economic fluctuations, policy shifts, and geopolitical events dominate headlines, making it crucial for organizations to ...
In the whirlwind following the 2023 release of ChatGPT 4.0, the landscape of data analytics has been reshaped. For those feeling a step behind in this fast-paced evolution, this recap of the year's highlights offers a practical guide to the most access ...
In today's business environment, the decision-making process is often a critical point of failure, holding back organizations from realizing their full potential. When the issue lies not in the lack of data but in how it's used – or not used – in decision ...
Navigating Complexities in a Large Data Team Consider the scenario where a VP of Insights oversees a substantial team of 125 data analysts and scientists. This team, while highly skilled and experienced, often grapples with a common challenge: prioritiz ...
Your startup is scaling and with the incoming amount of complex and diverse data, you need a team that can find the nuggets of wisdom that can help your startup reach the heights it’s meant to reach. The question is, how do you find the right data talent ...
Unlock the potential of data literacy assessments with a strategic guide. Learn the sequential steps to kickstart assessments, tailored to your choices. Define goals, competencies, and skills for a culture of data excellence.
While it may not be the “sexiest job of the 21st century” like a Data Scientist. It's the Data Engineers who kick Data Science into high gear and help the startup unlock the power of data. Data Engineers are unicorns in their own right, and hiring a good ...
Why does a data-driven culture matter? There are several reasons. The most important one is that the data in your organization has tremendous value. Organizations that tap into this outperform their competitors. A data-driven mindset is the key to unlocki ...
In the age of digital transformation efficiency, businesses recognize the immense value of leveraging data to drive growth. According to Startup Genome's 2021 Global Startup Ecosystem Report, startups that leverage data analytics are twice as likely to s ...
“They are just navel-gazing,” my boss told me. Many years ago, I heard this term after a meeting where most of the attendees acted like the meeting did not apply to them. If you are in ancient Greece practicing meditation, navel-gazing is the proper way ...
A data analyst, Eric discovered a troubling trend in his company's customer data. The churn rate was alarmingly high. Concerned about the impact on the business, he mobilized his team to investigate the problem. Eric and the team spent significant time ...
In digital transformation, the most challenging thing to do is scale. That's where data analytics process comes in. According to a McKinsey survey*, fewer than 28% successfully scale and achieve full business impact. About 14% stall in their pilot phase, ...
Data has become an increasingly vital part of modern business, and it is no surprise that companies are constantly looking for ways to leverage it to their advantage. How businesses use data, from big data and analytics to artificial intelligence and mac ...
First, what is a Citizen Analyst? People in business functions that are responsible for improving, transforming, or innovating your company’s products and services. They are product managers, marketing leads, customer service leads, operations managers, f ...
Introduction Starting a business is a risky endeavor, with many startups facing a high failure rate. According to a study by the Bureau of Labor Statistics (BLS), approximately 20% of small businesses fail within their first year, and around 50% fail ...
For several years, executives and leaders have called data and analytics a core skill and top priority. But, the reason and expectations have dramatically changed over time. It helps to understand the past to see where enterprise data literacy is going an ...
It's frequently said that machine learning (ML) and artificial intelligence (AI) are the ultimate tools for the future. Yet, they can only solve 5–10% of business problems. That is because advanced development methods and profound insights into human natu ...
The role of data in business The benefits of using data correctly Best practice for handling data The role of data in business Data is important in business, and it can help you make better decisions that lead to more success. However, like ...
There are a lot of talks these days about Auto Machine Learning but does it really powerful enough to eliminate the need for hiring Data Scientists? Some companies believe that they don't actually need data scientists at all - they can instead use auto-ML ...
Machine learning holds the key to solving many industry problems currently, but it's not the only tool for the future. As long as you have simple techniques for a problem that you're solving, machine learning is not necessary. This is important to know be ...
Often, an analyst is a person who extracts necessary values from the database and produces values and insights for business managers. And thereby, the faster one can do this, the better analyst they are. Sounds familiar? This post elaborates on the com ...
Many people think you need to be a data scientist to extract insights from it. This can’t be further from the truth. Typically, a data scientist is considered as someone who uses statistical methods, machine learning, and AI approaches to solve problems, ...
SQL is a critical language for database administrators and data analysts, but that doesn't mean you are automatically a great analyst just because you know how to use it. In fact, there are many different skills and techniques that are necessary in order ...
What is data exploration? Myth: Explore Data to find actionable insights How to go about data exploration There's a famous saying that goes, "knowledge is power." And while that may be true in some cases, it's not always the case when it come ...
Piyanka Jain is a highly-regarded industry thought-leader in data analytics, an internationally acclaimed best-selling author, and a frequent keynote speaker on using data-driven decision-making for competitive advantage at corporate leadership summits an ...
Are you looking to generate revenue through advertising campaigns? Advertising campaigns are a powerful tool to drive revenue but cannot be done alone. They need inputs from other campaigns and analyses to be successful. In this blog, we will discuss how ...
Marketing campaigns are run to build upon the awareness created by the brand campaigns. They connect your products to your customers. The broader goal of the marketing campaign success is to push the customers down the marketing funnel and define the stra ...
Say you walk into a shoe shop looking for a running shoe. You try many shoes; some brands are familiar to you, while others are new. The new brand you tried was the most comfortable and cheaper than the others. Yet, your brain keeps pushing you to a famil ...
“Banking has to work when and where you need it. The best advice and the best service in financial services happens in real-time and is based on customer behavior, using principles of Big Data, mobility and gamification.” – Brett King One could argue tha ...
As you all are very familiar with your product space, know that when it comes down to the metrics to track the performance of your product, there are 1000s. For app business, the users can be tracked using Daily Active Users (DAU), Monthly Active Users (M ...
Misalignment between business objectives and success metrics is a common problem, especially as a start-up is in its journey of growing and evolving. With the surge in data collection and analytics practices, it's easy to get lost in its depth and breadth ...
Analytics used to be the thing of the established companies to improve their company performance. Times have evolved, and analytics readiness has become necessary while laying the foundation for a company especially startups. All departments, including op ...
Say you need to book a flight ticket. You go to your favorite website, put your preferences in the search bar, and hit the search button. You obtain the list of flights with their prices. In such a case you often notice that the prices of many flights are ...
“You can’t just ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new.” - Steve Jobs As a business leader, you are interested in revenue and profits, but your customers are expecting enjo ...
This is the last post on 2022 readiness in the Series C Growthonomics. So far, we have discussed as the head of data/ analytics how to get more value from your data by creating an analytics agenda that would help you figure out the 10 to 15 problems to wo ...
In the last blog in the start-up readiness series, titled “Too many tickets and fewer resources,” we discussed building an analytics agenda that would help the data and analytics resources to focus on solving the highest value problems instead of going on ...
Your product acts as a bridge between the customer and the dollars (revenue). And I am using the word product quite generously but product in this article refers to product and service. So, the customer navigates through your product, and at some point de ...
As a business, there are lots of questions that can be asked of data. Some can be answered by building thoughtful dashboards while some require analysts' time and effort to get to the answers. Going back to our food delivery app example from last time the ...
When it comes to deciding on marketing budget and marketing strategies, the marketing executives pull up last year’s marketing cost, customer growth, and revenue; and depending upon the next year’s targets (which are mostly set by the top management), the ...
One of the crucial challenges for start-up entrepreneurs in this competitive business landscape is innovation, i.e., continuously developing innovative id …
"To consult the statistician after an experiment is finished is often merely to ask him to conduct a post mortem examination. He can perhaps say what the experiment died of." - Ronald Fisher Experimentation is a powerful tool for businesses to innovate a ...
Are you discouraged by your unexpected experiment outcomes? Is a feeling of despair engulfing you due to continuous experiment failures, making you believe that your ideas are inaccurate and wrong? We have seen this as a general trend in start-ups, and ...
“It’s not the customer’s job to know what they want.” - Steve Jobs Back in the days when there were no automobiles, if Henry Ford had asked people what they wanted, they would have said “faster horses.” Companies cannot innovate by asking people what the ...
"Customer Satisfaction is Worthless. Customer Loyalty is Priceless" - Jeffrey Gitomer "Customer is King" is an age-old mantra reflecting the importance of customers or consumers in every business. Traditionally it means to provide good products or serv ...
"Experimentation is the least arrogant method of gaining knowledge. The experimenter humbly asks a question of nature." - Isaac Asimov One thing that a company should learn to do, that can accelerate its growth many folds is running effective experiments ...
“Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.” - Steve Jobs As a growing company, you understand the importance of bringing in new customers. But do you know if you're fully lo ...
“The goal as a company is to have customer service that is not just the best but legendary.” – Sam Walton Over the past 100 years, a lot had changed from when firm owners knew customers by their name, individual needs, and personal preferences. Customer ...
Every customer has his/her own needs and preferences. These needs drive customer buying behaviour. Customer experience is a critical factor that determines the referral and brand advocacy from the customers. Everything falls into place once their ex ...
The risk of failure is congenital for every start-up. Blame it on cost challenges, poor product-market fit, or the inability to reinvent the wheel. Whatever the reason, it could feel frustrating to find yourself as a failure. I understand!! Ho ...
Every business needs new customers to grow. Some of these customers continue to buy the business' product and soon become a valuable part of the company. While acquiring new customers are important, companies also tend to focus on retaining their loyal cu ...
For businesses to flourish, they need to constantly acquire new and valuable customers. The process of bringing in new customers is called customer acquisition and is a part of customer analytics. While the process sounds simple, actually acquiring cus ...
Cohort analysis is a technique used in several analytical methodologies, including customer analytics, for dividing users into groups with common characteristics. Analyzing these groups, or cohorts, can help companies understand user behavior. Cohort a ...
Customer segmentation is a methodology under customer analytics used to group customers or products with similar characteristics into meaningful segments. The process allows companies to target customers better and serve them in a more fitting manner. ...
Like animals and plants, data too has a life cycle. It goes through various changes from its inception to its destination. When dealing data maturity – that helps maintain high standard data quality – it is necessary for organizations to understand the li ...
Antonio Neri, the CEO of Hewlett Packard Enterprise, had said in 2019 that "Data is the new currency". Neri had seen how companies were evolving with data. This digital transformation is still underway and likely to continue. With data being equivalent to ...
Data management is the practice of collecting, storing and using data effectively and securely so that data can drive the decision-making process. Effective data management is crucial to companies that want to develop a data culture. It is a component of ...
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