Do you know the role of dashboards for data-driven decisions in marketing?

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Data-Driven Decision
Making The Marketing Futurity
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Gone are the days when decision-makers took
vital decisions based on their instincts or
advice. Undoubtedly, we live in an era where
business leaders are progressive and never miss
a chance to efficiently use the latest advanced
technologies. And, the decision-makers who have
effectively put the data into action thrive in
the industry. In this blog, our experts at
Powermetrics have decided to share their
insights on data-driven decision- making (DDDM).
In brief, we are sure our insights will surely
help businesses thrive in this digital era. So,
read on.
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What is data-driven decision making?
The process of decision-making based on the
crucial data that allows businesses to become
better and informed decision-makers is known as
data-driven decision-making (DDDM). This
progressive approach involves the adoption of
numerous verticals in an organization. Again, it
includes evoking creative thinking to generate
curiosity, developing data skills to practice and
apply it, and community support. Accordingly,
these verticals encourage creating a culture
where everyone generates and puts the insights
from the data into action.
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WHY IS DATA-DRIVEN DECISION
Importance
MAKING IMPORTANT IN MARKETING?
Organizations now benefit from accessing a vast
amount of information to enhance their customer-
brand engagement. Similarly, marketing campaigns
become more focused on ensuring the best brand
experience to the customers. And marketing teams
can analyze various ways to drive better brand
engagements and increased ROI.
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Benefits
There are numerous reasons that data-driven
decision making can bring for businesses of this
era
Sustainable growth
Improved communication
Better business opportunities
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Understand your marketing objectives. Is it
increasing website traffic or having better
sales? After all, having a clear understanding
of the objectives and goals will help you decide
the KPIs for better decision-making.
STEP 1- DEFINE YOUR OBJECTIVES.
Steps of data- driven decision making in
marketing
STEP 2- IDENTIFY THE TYPE OF DATA REQUIRED.
Depending on your goal and KPIs established, you
will understand the type of data you would need
to collect.
STEP 3 COLLECT AND VISUALIZE THE DATA.
Firstly, get the data sources and start
collecting the data. Next, prepare and
prioritize the data for better insights.
Using a data studio dashboard here will help you
visualize the collected data well.
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Steps of data- driven decision making in
marketing
STEP 4- FILL IN THE GAPS OF EXISTING DATA.
Undoubtedly, inaccurate and incomplete data will
prove inefficient in providing the right
marketing decisions. So you must have a
dedicated data science team in your
organisation. They would help identify any gap in
the current and existing data.
STEP 5- HAVE CONCISE DATA QUALITY

• POLICIES.
• It is essential to have precise data quality
  policies to mitigate any risks. These policies
  will ensure uniformity and best data practices
  across all your departments.
• Additionally, it will also avoid your entire
  process to move away from the end goal.

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Thank you