10 successful benefits of leveraging data-driven approaches

Are you a decision-maker with data-driven approaches?  In our personal and work lives, we all make choices.  Whatever your role, you make some kind of judgement.  Certain may be more important than others.  

On my self-improvement blog, I write about a variety of topics.  I’ve been in the corporate world, entrepreneurship, and currently work from home (while blogging as well).  Having seen the benefits of using evidence, I’ll share them in this article. 

At the individual level

1. Making personal decisions

There are many occasions in your personal life when using simple facts can aid in making better choices.  When I have to buy a new mobile phone, a simple internet search can help me compare prices and features.  I also look for reviews to find out what others are saying.  

Everyone can benefit from using evidence at a basic level.  It helps to make more rational judgements.  This, in turn, supports reducing the risk of regretful outcomes.  Make use of available information for better evaluations.

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At the professional level

2. Study and career choice

With the need for accurate information in literally all industries, students often turn to related fields of study.  Making decisions based on detailed statistics is a vital skill to learn.

Leading companies also provide key courses for professionals.  While University degrees take longer to finish, some programmes are shorter.  You can choose to boost relevant skills when most convenient and at your pace.

3. Business sector

In businesses, whether small or big, decisions are key.  When you invest, you need to have the best knowledge possible.  Find out as much as possible beforehand.   

I had once opened my home shopping website.  It was an online shop for home decor items, fancy jewellery, and so on.  I then recognized the need for gathering all details for better results.  Being careless or ignorant is a no-no!

4. Marketing choices

A marketing team makes crucial choices,  endeavouring to boost sales.  The result often depends on many factors, including external ones.  The environment tends to be volatile, uncertain, complex, and ambiguous (the VUCA acronym).  However, having as many insights as you can is a must.

Consumer behaviour, for example, can be used to predict trends.  Based on the findings, you can plan for the next campaign.  Identify what might be causing a fall or spike in revenue.  Avoid what doesn’t work and focus on what does.

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5. Running ads

Boosting your website on Google or your social media channels attracts new leads.  At the same time, you spend money.  Create the right campaigns by using the best settings possible for your target audience.

I don’t run ads for my blog, but rather let it grow organically and gradually.  However, I do boost my social media page for another business that I run.  I’ve seen that testing and finding what works best, is profitable.

6. Website traffic

Organic traffic is great as it’s free.  It also brings the right visitors (and leads) to your website, as they’re the ones searching for your products.  However, it’s also competitive.

I use Google Analytics and Search Console for my blog.  They support me in discovering what my readers prefer.  I can then create better content.  WordPress.com stats also provide me with additional figures.

7. Competitiveness

Competition is intense.  Some industries may be more cut-throat than others.  Having an edge over rivals can make a significant difference in the level of revenue earned.  It’s not always easy, as smaller businesses don’t normally have the desired budget and resources.  

Gathering knowledge, having a good network, and keeping a proactive eye on the market are some of the basic tasks.  These are crucial.  Market intelligence has a vital role.

8. Giving presentations

Physical events may not be possible in some countries, due to the post-pandemic period (at the time of writing this article).  However, online events are more conducive.  Whichever method is used, having to inform and convince people is key.

Making use of anecdotes and personal experiences are so moving.  Your audience can put themselves in your shoes and feel the same.  Showing evidence through numbers aids credibility, and can build trust for the better.

9. Proven stats

These offer concrete proof in the form of unbiased quantitative stats.  Use them to predict future trends and select better alternatives.  Take advantage of such benefits.

Find solutions in a variety of circumstances through available facts and figures.  Leverage what you already have, and if not enough, go for first-hand research (depends on your available time and resources).

10. Calculated risk-taking

Take pre-planned risks.  Whether in personal or professional life, you have to make decisions.  The more informed you are, the better you can prepare for it.  Mitigate the risks of choices through careful consideration.

Financial investments are great as these help for the future.  However, in some cases, there might be a loss.  Taking professional help for complex matters could be better.  

Consider facts, proof, and use the details, as they can make all the difference.  Go for higher quality agreements by using evidence.  Choose to be enlightened, not ignorant.

Conclusion

In case you want to enhance your skills, take the course. Make the most of it for better results. Embrace a data-driven approach as much as possible.

Featured photo credit: Photo by Lukas on Pexels.com