Dashboards and Data: Making Sure Your Marketing Metrics Are Accurate
Companies need clear metrics and insights to chart the right course through today’s challenging marketplace. Innovations in digital technology can optimize the gathering and distillation of important business insights from customer and operational data.
Automated dashboards that collect and present the most important Key Performance Indicators (KPIs) for a company reduce the need for manual review of data and help provide clear insight from the wealth of information available. A KPI is only as good as the data behind it. If the information is not timely or accurate, it can present a misleading picture of marketing performance.
For example, if a business relies on customer surveys to calculate its Net Promoter Score, which measures how willing customers are to recommend its services or products, the information is already weeks or months out of date by the time it’s tabulated.
Digital solutions to monitor real-time customer data — from online reviews to social media reactions to the number of returned products — can turn information into a real-time KPI, providing better insight into specific marketing strategies.
Combining AI and Human Insight
Artificial intelligence (AI) and machine learning applications can do the heavy lifting of collecting and analyzing real-time customer data, finding and recognizing patterns that might otherwise get lost in a flood of data.
AI-powered reporting can provide important data, but it still needs human insight to use it to the greatest extent. Writing in Forbes, Brent Dykes emphasizes the importance of the human touch in connecting the dots in the information provided by digital systems:
Once you’ve identified a key insight that you want to share with another party, you then shift to storytelling. In most cases, you can’t pass along raw insights and expect them to be properly understood. Most insights must be explained before other people can fully grasp and act on them.
Need help putting the digital infrastructure in place to support real-time reporting of important business metrics? The experts at LMS can design and implement the systems needed to provide the Big Data-driven insights that power the best marketing campaigns. Contact us by phone at 800.257.5902 or via email at [email protected] to learn more.