Why Business Analytics Is Essential for Running a Successful Business

WHY IS BUSINESS ANALYTICS IMPORTANT?
The foremost goal of any organization is profitability, and customer satisfaction is a huge component of the success of a business. When an organization innovates and stays ahead of its competition, it fulfills and goes beyond customer expectations. Many businesses still rely on ineffective, time-consuming traditional techniques for decision making processes that cannot keep pace with the competition.

The use of “Gut feel” in taking strategic decisions still plays an important role among business leaders. But does reliance on “Gut feeling” and “Traditional techniques” make for smart decision-making? What’s the best approach?

The technology boom has given rise to innovations in how data is used. Business analytics is the solution and the best move to ensure competitiveness in today’s era. To define the term: “Business analytics, one of the emerging fields in the data science, refers to the methods and various statistical and quantitative techniques used by an organization for informed decision making and business modeling”.

Analytics is the change that helps you to get your business on track. It assists the businesses to convert the humongous amount of generalized data into observation, patterning and vision.

BENEFITS OF BUSINESS ANALYTICS
What was discussed above is just an academic definition. Now let’s discuss why one needs to adopt it in business operations:

Fast decisions are easily taken, but what matters is smart decisions taken in a short period. It helps to inculcate faster and smarter decision making into business culture of your organization. With the help of business analytics, the company can empower a team for data analysis to extract targeted information. When a company accesses accurate and essential data, undoubtedly, it will take the right decisions.
Analytics helps in quantifying business values.
Most businesses provide training programs for fresh recruits or older employees where the core business values are imparted or refreshed. Instead, companies should go a step further and undertake the help of business analytics to translate business values into numbers. This is a more cost and time efficient undertaking.

CAREER PATH OF A BUSINESS ANALYST
A business analyst is one who assists organizations in the process of business analytics. The career path of a business analyst is not strictly defined as there are several options based on industry, qualifications, interests, preferences etc.

Training provides trainees with the skills and knowledge needed for a proper understanding and interpretation of data.
Training courses help students in getting exposed to data systems and tools like R, SAS, Python etc. making them eligible for various analytical jobs.
The best incentive for undergoing a course is that the industry-best average salary of a business analyst is Rs 491,522 a year. There are various skills that can increase the pay scale of a business analyst like project management, SAS etc.

CONCLUSION

The role of a business analyst is often seen as one that bridges the gap between different departments in an organization. There are various business analytics courses which can help you achieve all the benefits mentioned above. Candidates with these skills can help an organization to strategically improve operational efficiency.

What Are The Secrets Of Affiliate Marketing?

For years I struggled to learn affiliate marketing. I started over 10 years ago and began by building websites which I hoped would rank on Google’s free search engines. Back then, courses taught this strategy because it used to work well! Over time and with the millions more websites and affiliates attempting to rank their content, this strategy got progressively more difficult.

I ranked a few websites and made a couple of sales here and there though. But it was by no means a living and I had spent many hours watching videos and learning over a long span of time. I there in the towel many times but knew it was something worth pursuing.

One of the secrets to affiliate marketing is to stick at it until you have some results. Learn from your lack of results but continue learning and never stop. My strategies were flawed in the first instance. I was expecting an easy win. I suspect many people come into affiliate marketing expecting the same.

Over time I slowly realised the time and effort needed to make affiliate marketing work for me. I learned that, just because I wrote an article, it wasn’t necessarily going to be seen by millions of people! In fact, most of my articles were never even seen. I didn’t know how to promote them and get them seen. I just expected everyone to come, because, well, I was special and it was just going to work! How naive!

One of the ‘secrets’ of affiliate marketing is building an email list. I had the best results once I had a list of subscribers and promoted a product with paid advertising. This is probably the quickest way to see results in affiliate marketing. Content building takes time and there’s no guarantee your content will ever get a large enough audience to start selling anything.

Building an email list is vital for anyone who wants to build a real business from affiliate marketing. Without one, you’re relying on your website visitors buying from you after they land on your website. This only gives them a few minutes to make a buying decision. Get them on an email list and you can extend tis period of time to months and even years ahead. Plus you can build a relationship with your subscribers by offering them value, insight and information which may be of use to them.

Paid advertising is another ‘secret’ of affiliate marketers. I avoided paid strategies for a long time because I didn’t have the confidence in the products I chose. I didn’t know how to run paid campaigns and I was afraid of losing money, because I didn’t have very much of it! So I stuck to ‘free’ marketing strategies like article writing and video creation. However, the results were very limited because of the strategy I used and the niche I was in.

It takes much longer to get traffic if you focus on only organic strategies. Paid traffic in instant, but again, takes time to learn and master.

The other ‘secret’ to using paid traffic is in choosing the right products to promote. This again was something I took a long time to understand. Having products which continue to pay out, even after your initial sale is a major key to making affiliate marketing work for you. I initially sold products which only paid me once. Plus I only made $40 or so on a sale of a $100 product.

I later learned that top affiliates choose bigger items to promote for better commissions and they choose memberships to sell so they can earn continuous commissions every month. A subscription product which pays you a small amount every month is worth far more than a single product which only pays you once. For each customer, you can earn a residual income, potentially for a lifetime. 100 customers becomes a real income because of the continuous commissions you receive each month of their membership.

Up-sells are another affiliate marketing ‘secret’ too. An up-sell, is basically a product which is sold to a customer after they have already bought from you. If you’ve even been to a fast food franchise you’ll know they always offer up an up-sell. “Do you want fries with that?” is an up-sell.”Would you like to supersize?” is an up-sell. By offering many products to existing customers you can earn far more than by only selling one product.

An existing customer is far more likely to purchase from you because they have already paid for something. Top affiliates know the power of the up-sell and benefit from more commissions made from each customer. Repeat custom is a major factor in most businesses so it should also factor in your affiliate marketing business too.

Here’s a final affiliate marketing secret. Most affiliates starting out will concentrate on getting someone to their website in order to turn them into a subscriber. They will spend a lot of time working on their website visitors number. But there’s two factors in turning a visitor into a subscriber. The number of people visiting your website is one factor. The opt-in rate is another. You can get many more visitors converting into subscribers just by altering your opt-in offer.

Cross testing various opt-in offers and in particular, making a clear call to action with a benefit driven ‘giveaway’ offer is the best way to measure this. So don’t focus entirely on building traffic because you can make more progress by creating an enticing giveaway offer to build your email list.

Business Projects and Essential Resource Planning Software

In a world which idolizes successful and young entrepreneurs and thrives on the support of large economies, it is not surprising that businesses are increasingly wary of where their land, labour and capital are getting utilized. Add that to the fact that this era sees its epitome of technology today, and constantly out-does itself owing to the vigorous competition prevalent in the corporate world. What you are now faced with is a gap that begs to be filled by resourceful computer software with an efficient, speedy and user-friendly interface. Welcome to resource planning software.

The responsibilities of project managers require them to be highly vigilant of everything that goes on about them. Resources, time and the available team are each, in themselves, independent factors in the equation and in direct need of separate management. Apart from that, and more importantly, the project needs to be supervised and it needs to be ensured that it keeps on moving in the right direction. With this sort of burden resting on one, or on a group of persons, errors in judgment and mistakes are bound to occur. The usage of excellent resource planning software for the assistance of the project manager mostly or completely eliminates mis-judgements, and leaves no room for human error. The project manager can then focus on more pragmatic issues rather than simply manually supervising each task as it is done.

Furthermore, in the wake of the failure of large economies worldwide, which puts immense financial and psychological pressure on businesses, such software provides the user with an outline of the whole fiscal year in the form of a more interactive medium that they can get in touch with ahead of time. Deadlines can be met with greater ease as targets are reached with much more consistency. The formulas fed into the database of such excellent resource planning software display realistic and achievable targets based on past information and projected future figures. These figures when made visible to all parties involved (employees, clients) culminate in the coming together of all components in a business to increase profits of current years and still stay posted about future investment plans.

Resource planning software is also practical in its usage. The user-friendly interface usually consists of bright colours to define and highlight important projects for easy identification. It is compatible and lets the user experiment with spread sheets (with excellent templates already made available) and e-mail clients for straightforward no-nonsense handling and online transfer of data. The representation of information using appropriate charts, flow diagrams and animations aids the retention of relevant instructions for the employees and creates an easily interpretable picture for the project manager. Hands-on experiences provided let you drag and drop items onto the timelines, spread sheets flowcharts etc. A more contemporary version of the software might even inculcate touch sensitive interfaces making the hand-on experience quite literal. It will then be possible to operate the software using touch-tablets.

All these features render all previous existing techniques, all the expensive stationery quite useless as well as proving this software to be a necessity for all project managers in large businesses worldwide. The hassle of paper documents can now be a thing of the past and an enterprise’s accounts, resource processing, comparison of projected and actual figures can all find ample, secure space within the boundaries of such revolutionary software. This will let businesses compete well and excel in the ruthless race that the commercial world now takes the shape of.

Managers can plan their resources efficiently by using eResource Scheduler, an efficient resource planning software. This software to plan resources will help you to know more about accurately predicting resource requirement for your office.

Generate More Traffic to Your Facebook Business Page

Every day, over 20 million users logged on to Facebook are interacting with Business Pages. This number may seem daunting, and indeed it isn’t easy to make your Page stand out from the millions of others… especially considering that your competition included billionaire brands like Wal-Mart.

However, this doesn’t mean you can’t stand out from the crowd. Before delving too far into that (and we will), let’s first take a look at the reasons you should create a Facebook Business Page in the first place.

1. They’re free. And there isn’t a more inexpensive form of advertisement. With just an account on Facebook and a little time for set-up, you’re already ready to start generating traffic. That second part takes a bit more time than the initial set up, but you’re well on your way at this point.

2. They’re customizable. The static FBML application (which is also free) allows for complete customization of as many tabs as you see fit for your Page. It does require you have prior knowledge of FBML code (which is a derivative of HTML), but if you aren’t an expert in either, there are always services, some of which are relatively inexpensive, designed to help you create a great looking Facebook Business Page for your brand without requiring you to know anything about coding.

3. They’re known. What it means to have over 20 million people connecting with Facebook Pages is that you have 20 million opportunities to attract potential customers to your page. While you’re not going to capture that entire audience, 1 percent of 20 million is still 200,000 people. Even.01 percent is still 2,000 people that you can reach out to, so there is plenty of opportunity if you’re willing to reach out.

But creating your Business Page is only the first step. Once you’ve got it up, the next part gets a little more tricky – generating traffic. Still, with a few things in mind people will start liking your Page before you know it.

The most time-consuming, but also the most important way to promote your Business Page is to consistently keep it updated without cluttering it with too much superfluous content. Brand factoids, important updates, upcoming events or promotions, and videos are all great things to update your Page with, not only to keep it updated, but to engage the viewer with something he or she will be more interested in reading.

Keep it professional. Although your Page is connected to your profile, it shouldn’t be treated the same way. Keep personal information, such as your home address, family photos, and vacation plans off your Business Page. Not only does this have nothing to do with your business, but customers aren’t so much interested in your family outings as they are in what your brand has to offer.

People like pictures. Moreover, people don’t like the first thing they see when they land on a Page to be a great big wall of text. Especially when that great big wall of text looks the same as all the other great big walls of text that businesses have on their Pages. Make your Page stand out by utilizing the free FBML application (which you can set up as the landing tab for your Page) and capturing the attention of visitors.

The great thing about Facebook is that it’s one big string of people linked together by friendships, fanships, and likes. You can invite your friends to your Page, who will then invite their friends, who invite their friends and so on until you have more people liking your page than you know what to do with.

However, none of this matters if you don’t put it to action. Even if you have thousands of people who like your Page, it won’t mean much if they aren’t converting into more revenue for you. Remember to connect with your clientele and immerse yourself in the discussion. There’s no better way to build customer trust and brand loyalty than to put a personable face to the brand you’re advertising.