Transforming raw data and delivering insights — basically, information extracted from unstructured data that allows companies to make a more informed decision — is a key purpose of many Supermetrics Alternatives. Here’s a brief guide to best practices that will help extract insights from your data.
1. Invest in good software
There are many ETL tools (Extract, Transform, and Load) on the market that will allow you to properly interpret your data. By analyzing your marketing data with great software, you will automate the entire process and get accurate information that will allow you to make assessments, predictions, and better business decisions.
2. Identify the question
When dealing with unstructured data, you need to know what you are looking for. By asking specific questions, you will maximize the outcome of getting specific and meaningful insights from your data. Whether you want to figure out which products were the most popular or which ad campaigns resulted in the biggest revenue, be precise about your questions.
3. Look for patterns
Using credible data and knowing what to look for will help you identify the key patterns and trends. Keep in mind that correlation doesn’t equate to causation, but finding correlations, patterns, and deviations in your data will help you get a clearer picture.
4. Choose the format
One of the most important steps in data extraction is determining which data format to use. There are many different formats of data, starting with text files and photos and ending with scientific data, geotags, and audio files. By choosing which format to analyze, you will be able to quickly concentrate on the relevant data and ignore the rest.
5. Visualize your data
It comes as no surprise that visualized information is much easier to process than numbers. By converting data into diagrams and charts, you will be able to convey information to your boss and colleagues in a simpler manner, as well as start seeing new patterns and trends.
When extracting insights, we recommend you implement the above-mentioned practices to transform raw data into actionable insights. After identifying formats, using credible data, and identifying the question, you will be able to see data patterns that will help make better business decisions and increase customer retention and satisfaction.