Growth Accounting and Data Analytics
Do you have multiple datasets? Or so much data that you just don’t know what to do with it? You may realise that understanding your data better will give you greater decision-making power when it comes to planning for future growth.
Momentum South West can help you learn more about your customers and the products and services they buy, through enhanced data analytics and intelligence. We call it Growth Accounting.
Our Data Analyst, Sue, skilfully analyses data according to the questions you wish to know the answer to. And even if you're unsure about exactly what you wish to know, Sue can do a deep-dive on your data and provide you with enough insight to give you direction and a better sense of what to do next.
- Do you want to know which customers spend the most with you?
- Would you like to understand your best or worst selling products?
- Do you know which customers are most likely to leave you?
- Would you like to know how much time elapses between purchases?
- Would you like to better understand your customers' behaviour?
How does our Data Analysis service work?
We Understand Your Data.
We can extract raw data from a variety of sources – ecommerce sites, web pages, twitter feeds, APIs, databases, spreadsheets, pdfs and csv files. We can also give advice on where and how to store your data.
We use a data warehouse to hold the raw data, check and validate it ensuring accuracy and then ‘wrangle’ it to prepare for analysis. This is essential to ensure accuracy of results and statistics that make sense. Our service is bespoke and carried out by a data expert, rather than a generic plug-in style approach.
We create Business Intelligence.
Once the data has been cleaned then it can be used to perform clear and accurate insights into your business data, to include:
- Customer segmentation – by spend, by recency and by occurrences allowing you to target marketing accordingly and determine a strategy for your business.
- Product segmentation – by performance, marketing or customer
- Time / date of purchases by product and by customer allowing for clear buying behaviour.
- Retention of customers
- Lifetime value
- Churn rate
- Frequency analysis
- Employee turnover
We do Growth Accounting.
There are two main types of business growth:
- Short term growth hacking. This is where users/buyers are encouraged to buy products through incentives which ensure new buyers but not necessarily retained buyers.
- Long term – users buy into your product or business because they value your product and want to stay with you.
There are 4 main types of buyers or website/product users:
We will identify the most effective growth areas for you, and design hypothesis and AB Testing to allow us to predict likely outcomes. This can save you lots of wasted time and money on marketing efforts.
Start making your Data work for you, today.