How to Choose The Right Analytics Agency

In our modern digitally enhanced world, data and information underpin all of our activities. But are you making your data work for you, or is it something that you are yet to take full advantage of? For many business owners and marketers, analyzing and deploying data can be an intimidating prospect. For that reason, analytics agencies have emerged, whose aim is to help businesses leverage their data for better decision making and improved outcomes. If you are thinking about hiring an analytics agency, here is everything you need to know. Know Your Goals and Desired Outcomes Like when working with any agency partner, you first need to consider your current situation and goals. The reason for this is that not every analytics agency is built in the same way. Some agencies work with certain industries or companies at different stages of maturity. Other agencies specialize in certain areas of analytics such as marketing vs operations. There are also differences in how they execute. For instance, one agency may rely heavily on technology to power their insights. Whereas another may rely more on their years of experience and human intuition. When thinking about your goals, consider these aspects: Your existing data – Think about the data assets that you are currently building. This can include things like marketing channels (search, PPC, content), operations or product data. The role of data in your business – Next, you will need to think about the role that data plays in your business. For instance, do you need to use data to predict and manage your inventory? Or perhaps you may need to leverage data to scale an existing marketing channel. Your budget – Naturally, there is a varying service fee depending on which agency you work with. Depending on what you want to achieve, you need to think about how much budget you can allocate to an analytics service. Business priorities – Ultimately, you will need to think about what is a priority for your business at the moment. This is where you should spend most of your time thinking and see how data and analytics syncs up with your main priority. Maybe you need to optimize your processes to reduce costs. Or perhaps you need to discover new market segments by leveraging customer data. Before rushing into hiring an analytics agency, take the time to conduct a full audit of where you are …
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