Lumoa Analytics – How to Turn Raw Data Into Actionable Analytics

In a world in which companies create 2.5 quintillion trillion terabytes of raw data each day it is vital to gather, manage and turn the raw data into actionable analysis. This is not just the first step towards becoming a data-driven enterprise, but also a way to improve customer service, and to prove the need to expand into new markets. It is also a way to demonstrate growth.

There’s been a lot of recent discussion about the importance of actionable information. Overuse of a buzzword will make it less meaningful. What are real-time insights? Are today’s technology able to produce real-time insights from the vast amounts of data they consume and ingestion?

Descriptive Analysis

The first path is to simply record what happened. This is a good way to begin however, it’s not actionable. For example, if your onboarding process has a high rate of drop-offs it’s essential to understand the reasons behind it but if you’re aware that most people are dropping off because they’re unhappy with the amount of videos available and the https://99software.org/2023/06/14/what-is-actionable-analytics/ time required to complete the onboarding process, you have the information to move on and improve the product.

Then, diagnostic analytics help to understand why what happened is happening. This is where qualitative feedback can be extremely useful because it lets you uncover insights that numeric data can’t. For instance, if you’re seeing that customers are complaining about your experience in the store, you may be able to identify the problem by asking questions in your NPS survey that allow for free-text responses. Lumoa’s numeric questions can make it difficult to gain these insights. Lumoa shows you which subjects have the greatest impact on your measurement and how much.