Drowning In Data? 5 Tips to Thrive

There's new gold to mine, and it is data. 

To understand what “data” even means for business, you first need to know that data is everything. From the order through which you click on website links to the personal information you feed into social media, all of your digital footprints are cataloged through data. This may sound daunting, but it doesn’t have to be. Data forms the pillars through which social media algorithms are built, and it’s so vital to the functioning of the internet that it has literally shaped it over the years.

The order of links on Google when you search for something? Data behind it.

The Instagram ads you ignore? Data formed it.

Though data mining is an incredibly powerful tool for brands to understand their consumers and inform future strategies, it can often feel overwhelming. More often than not, small businesses spend a significant amount of money on data extraction but then don’t know how to navigate the numbers. While it’s completely normal to feel overwhelmed by the amount of data you have to sift through, there are ways to make it easier and more effective—and we’re here to show you how.

1. Start Specific

Have you noticed the difference between going to the grocery store with a shopping list versus without one? Without a list, you may end up buying things you don’t need, exceeding your grocery budget and forgetting the crucial ingredients you need for dinner tonight. Data mining follows the same structure; if you go in without a plan, the results might be ineffective and under-baked.

Whether you’re attempting to decipher analytics alone—or you’re working with a team of data analysts—you need to have a clear and specific goal in mind to get the most out of the process. 

For example, let’s say you’re selling custom flower bouquets and you’re wondering which age group to target with your ads. That’s still a vague goal. Instead, you can start to think of which age range has the most budget to spend on celebratory events that call for custom bouquets. You might think that the largest group of recipients may be Gen Z, but the data can reveal that the people actually buying your product are Millennials. This is a small example of why it’s crucial to head into the underground of data with a clear plan in place. Otherwise, you might miss out on valuable jewels.

2. Visual Aids Help!

Let’s get real for a second. Anyone who can stare at hundreds of pages of code doesn’t understand the power and importance of visual aids—but for the rest of us, we need some color!

Studies show that visual aids can help retain information, learn faster, and lead to an increase in effective communication—so why not use them? There are several softwares available that sift through bags of code or data for you and present the findings in the graph form of your choice, creating visual aids from rows of numbers.

Visual aids are also extremely beneficial to your external shareholders and investors. For example, if you’re pitching to a potential client—or a key investor—you don’t want to bore them with data they won’t immediately understand. By presenting your data findings in a visual format, you can convert research into clean, understandable consumer insights, thereby setting yourself up for success.

3. Let AI Help You

One way to look at artificial intelligence is by thinking of it as your personal assistant. Because, let’s be honest, you’re a busy and powerful woman who might not have the time to sift through data yourself. Wouldn’t it be nice to hand it to your assistant and review the findings later? Well now you can with AI.

By feeding your data into tools like ChatGPT, you can save valuable time and effort–and money. Remember to be clear in your prompts and instructions and always ask follow-up questions. That way, you can understand the bigger picture your data is painting without any miscommunications or laborious steps. 

4. Create Your Own Laboratory 

Did anyone else grow up dreaming of tinkering in Dexter’s Laboratory? If you did, your childhood dreams can be realized if you view analyzing data like your own personal laboratory, where the only rules are to experiment, record your findings, and create next steps.

If you view data analysis as an adventure rather than a complex chore, you might even have fun while gaining valuable insights into your company. Experiment with gathering insights from different data segments, try out new tools, and actually apply your findings to how you run your business. For example, if data tells you that people aren’t clicking on the shopping cart on your e-commerce website, that would alert you to the fact that something is wrong with the consumer experience. Maybe the shopping cart icon isn’t big enough, or customers need a discount incentive to follow through with the purchase. The data creates a mystery – and you’re Sherlock Holmes.

Ultimately, you should experiment as much as you can, but always be smart about it by carrying your lessons from the past to your present endeavors. 

5. Track Your Progress

Do you remember what you ate for dinner last Wednesday? Probably not, because humans have a notoriously poor memory. This quality—good ol’ human error—is why tracking your progress with data mining becomes vital. 

It’s not enough to get valuable insights, apply them to your business, and then just forget about them. Instead, you’ll have to track whether or not the insights paid off, and if they didn’t, you’ll need to investigate where you went wrong. 

By continuously measuring and evaluating your data mining efforts, you can ensure that your brand’s resources are deployed efficiently and that you are moving steadily toward your predefined objectives. And if analytics show that you aren’t, you might need to re-evaluate your entire approach to data mining.

While it takes effort to get it right, data mining can help brands find their target audience and, as a result, can drastically boost sales and exposure. To succeed in data mining without drowning, you’ll need to be clear about your goals, leverage AI tools, experiment often, and track how well you’re doing. 

Remember, data mining is an evolving process, not just one step. Make it an investigative journey to transform what can be a cumbersome task into a fun mystery that only your power can solve.

Always in your corner,

The Content Queens