• May 24, 2023

Five Key Elements to Collecting Reliable Business Analytics Data

Five Key Elements to Collecting Reliable Business Analytics Data

Five Key Elements to Collecting Reliable Business Analytics Data 1024 536 Avocado55

Ensuring that the data that you collect as a business is reliable is of utmost importance. Your data will be the basis on which you make important organisational decisions, and any insights you can take from analysis of this data is only valid if the source can be relied upon. 

We look at five key elements to making sure your business analytics data is as reliable as possible, so you can be confident in using it for further analysis, insights and strategy development.

1. Business data from accurate sources

Accuracy really is key when it comes to data, and every detail matters. Ensuring that whatever sources used for your data are accurate is vital, whether it’s sales figures, performance information, usage statistics or anything else. No analysis will be worthwhile unless the data is accurate.

2. Business data that is comprehensive enough for your needs

Having the right amount of data, covering the areas that your business needs, is also a real essential factor before trying to find insights. Whether it’s making sure that your CMS is collecting the right customer information or ensuring that related systems are talking to each other as they should and merging the right data, identifying exactly what info is needed is vital.

3. Business data that is clean

It’s only too easy for some data software and platforms, combined with human error at times, to create duplicates or other errors in data that can affect accuracy and overall reliability. Being able to effectively clean your data on a regular basis, along with having effective processes in place to minimise issues arising in the first place, means that you can trust the information when it comes to running your analysis.

4. Business data that is relevant to your context

Understanding which data is relevant to your specific purposes is a key element to reliable data. Only including exactly what you need, which has a direct impact on your business goals, can be a great way to simplify things and unsure your analysis doesn’t get bogged down in irrelevant information. 

5.Business data that is automatically updated

Out-of-date information can skew your data analysis, or limit the effectiveness of decisions that you make based on it. Having systems in place to automatically update your data at regular intervals, so that you’re always using the latest figures and information, can make a huge difference to how reliable it is. 

At Avocado Analyze, we’re a team of industry data experts, specialising in demystifying data, making the most of your data collection tools, effective visualisation and helping businesses to make the most of their analysis and insights. If you need some assistance with any element of your business data, we’d love to hear from you.
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