5 Ways Data Analytics Consulting Services Fuel Your Business

By Sarah Evans / Analytics Practice Manager

June 29, 2023

Blog

Reading Time: 5 minutes

In today’s fast-paced business environment, data analytics consulting has become an essential component of successful business operations. With the right insights and strategies, consultants position companies to better leverage data-driven decision-making to maximize ROI and drive business growth.

Through expert analysis, data consultants can help businesses uncover insights that companies often overlook and implement ongoing analytics that drive better decisions. In this article, we’ll explore five ways data analytics consulting can transform your business and help drive growth, uncover hidden insights, and empower your team with skills to drive analytical success.

Data Analytics Consulting Uncovers Unseen Insights

Data analytics consulting can help businesses uncover hidden insights that may not be immediately visible from raw data. By leveraging advanced analytics techniques, businesses can identify patterns and trends that can easily go unnoticed without the right expertise.

Harnessing this information allows for better decision-making, including identifying new opportunities for growth, creating more effective marketing strategies or optimizing operations as a few examples. Since they are not culturally embedded in the current business processes, data analytics consultants bring a new perspective and approach that can lead to new insights.

Data analytics consultants focus on increasing the value of your existing data by helping you look at data differently.

Data analytics consulting
Data Analytics Consultants Maximize ROI

Data analytics consulting services can help businesses optimize their strategies to maximize return-on-investment. By analyzing data related to customer behavior, market trends, and internal operations, businesses can identify opportunities to increase efficiency, streamline processes, and cut unnecessary costs. This information can then be used to develop targeted marketing and sales campaigns to acquire new customers and retain existing ones.

ROI analysis is one of those often-talked-about, but infrequently pursued categories of analysis that- in the context of the tyranny-of-the-urgent in day-to-day business operations- a reality that can often relegate higher order analysis to the background. Having the outside perspective and help from data analytics consulting companies can be the critical difference in pursuing this essential way of measuring so many aspects of a business.

Regardless of where your business is on their analytics maturity model journey, data analytics consulting firms focus on ensuring you are getting the most from your data and progressing along the maturity model.

Data Analytics Consultants Help You Stay Ahead of the Competition

A data analytics consultancy can help businesses identify emerging trends before they become mainstream, which gives companies a competitive edge. By analyzing customer behavior and market trends, businesses can detect new opportunities for growth and gain a deeper understanding of customer needs and preferences. With this information, companies can develop products and services that meet the current and future needs of their customers.

From working with many clients, across industries, data analytics consultants often bring a unique wealth of knowledge and experience. They can often see new solutions to age-old problems that organizations face, as well as pros and cons of those options, and can help walk you through which solution may be best for you.

With Domo as an example, if your data is only available from an API, it can be challenging to determine if you need a standard Domo custom connector, a Domo JSON connector, or even a custom connector created more flexibly with a Domo Jupyter notebook. As data analytics consultants, we walk you through the process to look at the API, your data, and your business to determine which approach is optimal for you. Coupling your company’s data and goals with data analytics consulting experience and knowledge ensures your business can stay ahead.

Data Analytics Consulting Tailors Analytics To Your Business Needs

Data analytics consulting can tailor analytics solutions to the specific needs of each business, resulting in more accurate and actionable insights. By working closely with businesses to understand their unique challenges and goals, consultants can develop customized analytics solutions that address specific pain points to drive growth. From their experience with similar clients and industries, consultants focus on the most common gaps and solutions that will be effective for your business.

Data analytics consulting services

When starting on your data analytics journey, it can be hard to know where to begin. Data analytics consultants will lead the way and configure the best workflow to access your data, whether its with an integration tool like Domo Workbench or via an API.

Build Your Team’s Analytical Skills To Drive Growth

Data analytics consulting can empower companies by building their team’s analytical skills and knowledge through mentoring and knowledge transfer. By providing training and coaching, businesses can develop a more data-driven culture, improving decision-making and driving business growth.

Data analytics consultants
Industry Examples

Below are just a handful of industry-specific examples of how a data analytics consultancy can help.

In the financial services industry firms use advanced analytics techniques to personalize investment advice and create custom investment portfolios for each client. Having a consultant configure automated analytics related to client preferences, risk tolerance, and market trends, enables financial advisors to optimize investment portfolios and maximize ROI for their clients.

In e-commerce, consultants use data analytics to predict consumer behavior and develop targeted marketing campaigns. By analyzing data related to consumer demographics, past purchases, and online behavior, e-commerce companies can tailor their marketing efforts to the specific needs and preferences of each customer.

In the retail space, data analytics consultants often help companies to determine which products sell best in certain regions and at what times of the year. By analyzing sales data, retailers can optimize inventory management and identify new sales opportunities to drive growth and maximize revenue.

Making the Investment in Data Analytics Consulting Services

In conclusion, data analytics consulting can be a powerful way for companies to partner with an external organization in order to help transform their analytics initiatives and maximize the value form those investments. By uncovering valuable insights, identifying emerging trends, streamlining operations, and empowering teams with analytical skills, consulting firms can help businesses make better decisions and stay ahead of the competition. Customized analytics solutions tailored to each business’s unique needs and challenges can further optimize strategies and increase efficiency.

At Graphable, our data analytics consulting services are designed to help businesses of all sizes and industries achieve their goals and drive growth. From data analysis and visualization to predictive modeling and machine learning, our team of experts is equipped to tackle any data challenge. Contact us today to learn more about how our data analytics consulting services can elevate your business.

Helpful Domo / Analytics Resources

Graphable helps you make sense of your data by delivering expert analytics, data engineering, custom dev and applied data science services.
 
We are known for operating ethically, communicating well, and delivering on-time. With hundreds of successful projects across most industries, we have deep expertise in Financial Services, Life Sciences, Security/Intelligence, Transportation/Logistics, HighTech, and many others.
 
Thriving in the most challenging data integration and data science contexts, Graphable drives your analytics, data engineering, custom dev and applied data science success. Contact us to learn more about how we can help, or book a demo today.

We are known for operating ethically, communicating well, and delivering on-time. With hundreds of successful projects across most industries, we thrive in the most challenging data integration and data science contexts, driving analytics success.
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