Understanding business analysis of data analysis?

Editor’s Guide: Data Analysis refers to analyzing data, discovers business problems, insights business opportunities, providing reasonable advice and reference basis for business growth, and outputs data reports. In realities, many business scenarios can be reflected by the data. This article will discuss the importance of business on data analysis from four aspects.

You must hear: “Understanding business, is the pre-condition and important steps of data analysis.” So, how is it called understanding business? How to comb your business? What extent should you still understand? Many people understand these problems may be very vague. Here, it will be mainly set to you by the perspective of data analysis, and you will be able to understand what the business should be understood in the manner in the way, in the way, in the way, to demonstrate the business.

Let’s discuss exchanges, combing business for data analysis, what is important? Let us live in this, explore and communicate, operate and data charm.

“Data Analysis”, that is, by analyzing data, discovering business problems, insighting business opportunities, providing reasonable advice and reference basis for business growth, and outputting data reports. What is business? In the case of direct white, “business” generally refers to all the non-technical classes. It is the general style of sales, products, marketing, marketing, operations and other work. These are all B-terminal / C-terminal users, “business” final The purpose is to “increase sales, exchange profits, reduce costs”, and draw analysis conclusions in data reports are also available to business.

Then, true, demoluble, and measurable data will definitely reflect the situation in a certain aspect of the business. And “Data Analysis” requires clear description in the process of implementing business objectives and output data reports, and showing business status, solving business pain points, and helps business improve performance. Therefore, “Data Analysis” needs to be expanded around the business.

In realities, many business scenarios can be reflected by the data. Data analysis can create value by analyzing problems in business and solving business problems. For companies, solving business problems can increase income or reduce costs; for individuals, I know how to use data to solve business problems, and have a lot of help for personal skills and workplace careers.

To understand the business, it fundamentally is: Data from the business scenario, use it back in the business scene. Next, let’s take a look at what is the importance of understanding business for “data analysis”?

01 importance

Understand business pain points, understand business processes, and have the opportunity to analyze problems that may exist in business scenarios. When you have just started data analysis, it is easy to pay more attention to data, methodology, tool, etc., but ignore the business pain points and needs behind the data. I have worked hard, and finally the business person has no one sentence: “What is the problem and the result of your analysis? What is the use of me? Not in line with business logic.”

A simple example is taken as an attendance HR product in To B.

For example, the number of purchases purchased in a certain month has fallen. For many data analysts, it may immediately go to make multiple dimensional cross-analysis. What is the cause of the purchase member, not take the initiative to think inside Business pain points and process logic. Customer purchase members have declined a lot of reasons, product design issues, purchase process issues, customer company internal policy issues, team sales capabilities, etc.

If you understand business pain points, understand business processes, what do you know about business needs? That is, focusing on customer purchase membership, clarifying the related customer journey funnel (as shown), identify several key behavior transformation nodes, then analyze the conversion and loss of behavioral points, combined with business and user pain points To make a series of work on data source, caliber, cleaning, analysis, etc., and to position problems, and guide decisions. Instead, it is not encountered by an abnormality, and goes directly from the data to the answer. In fact, the answer is hidden in the logic behind the business.

02 importance

What is the focus of the corresponding business stage, it is possible to design a data indicator monitoring system that is more in line with business perspective, and answers an abnormal condition through the corresponding topic analysis. Because business development must be “Germination – Start – Rapid Development – Ripe – Decline”. This is the law, or it is also a life cycle of the product. We need to determine the stage where the product line is located, in order to design the data monitoring data system.

In the different life cycle stages of the product line line, its data analysis focuses on the focus:

Stage: focus on monitoring user behavior data, etc., optimize product iteration.

Start stage: focus on monitoring users, channel data, etc., screen high quality channels, and expand customer base.

Rapid development: focus on monitoring users’ active, retained data, etc., improve the conversion rate of each key link.

Mature stage: focus on monitoring members, order data, etc., and improve profit points.

Duration phase: focus on monitoring content, market brand data, etc., brand driver, design effective marketing strategy, find a second growth curve or second innovation.

03 importance three

Understand the corresponding business processes and rules in the industry, the conclusions and recommendations of data analysis can be made more landing. Also use to B a attendance HR product as an example. The business model of the product is very simple, nothing more than guiding customers to buy members’ achievements, supplemented by advertising, thus achieving commercial closed loops from investment into profit, this model has channel (market promotion) content (to build a brand) There is a product (meeting customer needs), there is operation (upgrading day and customer transformation), with customers (purchaser), etc. If you understand the corresponding business processes and rules in the industry, you will not have a downward trend in the day of TOB products, and you can propose suggestions such as who know that the delivery costs, which may also be the periodic activity of special circumstances of the enterprise rules; Just when the customer has lost the sliver, just talk about the same loop than data; if you do not increase the advertising frequency when the advertising traffic is reduced.

04 importance four

Understand all roles KPI in the corresponding business and how to cooperate to advance data work quickly and orderly. Clarify the responsible persons of each business link, how to collaborate, and to undertake any duties, you can see what the data needs it needs, and perform visualization. Generally, it will pay attention to the current KPI indicator, and from the refinement involves The focus indicator helps business to solve pain points.

Or take the TO B attendance HR product as an example. Different major characters: products, operations (including sales, marketing, channels, content), customers, customer success, etc.

Product: In order to obtain profits, companies must have products, but this product is not only physical products, but also services, Internet products. (Such as product manager)

Operation: With products, we must promote the product. Through the continuous optimization channel combination, improve sales, connect products and users, bring the product out, bring the customer’s money back.

Customer: The product will eventually go to the user, the customer is the ultimate user of the product, and the final purpose is to use the product as much as possible. We also have to understand the customer portrait (here you don’t have to speak).

Customer success: With users to buy products, then we have to maintain users, keep, and transform.

Operations according to the supported roles, there are many kinds, such as Internet product operations, mainly to optimize the product experience, the function of the app does not have any user, it is necessary to consider the problem, how to improve. Support channel operations, need to be a brand public relations, launching products or brand awareness; in sales, activities planning, discounts, marketing activities, etc .; after sales, attracting users to pay again. Support customer operation, such as WeChat group, after-sales service, etc.

Understand the various roles, each person’s duties, how to collaborate, etc., combined with the problems encountered, can advance data work.

05 final

Now let’s summarize what is the importance of understanding business for “data analysis”?

First, understand business pain points, understand business processes, may have the opportunity to analyze the problems in compliance with business scenarios.

Second, what is the focus of the corresponding business phase, it is possible to design a data indicator monitoring system that is more in line with the business perspective, and answers an abnormal condition through the corresponding topic analysis.

Third, understand the corresponding business processes and rules in the industry to make the conclusions and suggestions of data analysis more in accordance with practical, accurate landing.

Fourth, understand all roles KPI in the corresponding business and how to cooperate to advance data work quickly and orderly.

In general, we can’t leave the business to see “data”, but to understand the data from the business perspective and analyze the data. It can also be said that data analysis without business guidance is meaningless. This is to pay attention to and accumulate cultivation for newcomers just started.

Finally, if you are different, please welcome the message to add perfect sharing, and communicate!