One of the keys to achieve business success and increase sales is to be more data-centric. In an increasingly competitive world, joining data analytics training courses has become a highly effective way to make smarter decisions toward higher profits. To be able to meet your customer needs, maximize your retail sales, achieve the highest return on investment (ROI), keep up with competitors and beat them, you must learn data analysis and master all its related techniques, mechanisms, and methods to generate ideas that achieve your goals.
Therefore, the Institute of Management Professionals IMP, the leading training house in Egypt and in the Arab world offers you the most powerful online data analytics training course using Excel and Power BI during which you will be able to learn and apply all the data analytics-related tactics and strategies. Through our vast experience in this field, we will show you some of data analysis methods to help you achieve more revenue, beat competitors, and have a more successful business overall.
The Top Ways to Win More Sales Using Data Analysis
1. Improving Value Propositions and Price Points
The primary and most common use of data analytics is to improve value propositions, But what are the “value propositions”?
A ‘value proposition’ is simply a promise of value to be delivered and it’s also the first thing that determines whether prospects will read more about your product or hit the back button. Your value proposition has to be the primary thing visitors see on your homepage. It should also be visible at all significant entry points to your website, improving the value proposition is about saying the right thing, at the right time, and to the right customer.
But how can you do so? The short answer is “by using data analytics” …
Using data analytics help companies build highly-personalized value propositions that are tailored carefully to be addressed to each customer segment to promise the satisfaction of their specific needs.
2. Improving Price Points
Setting the price for a new product or service can be challenging for many. There is one key to overcome this challenge, though, and it’s data. The key to better pricing is the full understanding of the data available at the company’s disposal. Your pricing analytics will help you to understand how price changes will affect your overall business, what the optimal price is for each customer segment, and how to optimize your pricing strategy for maximizing profits.
3. Boosting Customer Acquisition and Retention
“The more data that a business collects, the more customers’ patterns and trends the business can be able to identify.”
Observing customer behavior is very significant to trigger loyalty. Analyzing big data allows businesses to observe various customer-related patterns and trends. It’s quite obvious that understanding customers’ insights will allow your business to be able to offer what the customers exactly want from you. This is the most basic step to achieve high customer retention.
4. Risk Management
Basically, having a risk management plan is an important investment for any business in Egypt regardless of the sector. If you want your business to remain profitable, you should be able to foresee potential risks and mitigating them before it occurs.
It’s time now to start learning data analysis and join data analytics training courses in Egypt the ability to build a proper big data analytics system that helps developing risk management solutions and achieve smarter risk mitigation strategies and make data-driven decisions.
5. Improving Targeted Marketing to Cut Costs and Boost ROI
Another huge advantage of data analytics is the ability to help companies improve their targeting of advertising efforts to avoid wasting money and efforts targeting customers that aren’t likely to be a good fit for your business.
Based on data points you have collected on your most profitable customers; you can target and acquire more customers that have similar characteristics and behaviors; maximizing the ROI and the return on your marketing spend. Over time, you will have the ability to identify customers who prefer short, concise sales presentations, and customers who prefer detailed and more in-depth demonstrations of the product.
Why Should You Join the IMP Data Analytics with Excel and Power BI Training Course in Egypt?
The Institute of Management Professionals IMP offers you the most powerful data analysis online live training course in Egypt using Excel and Power BI during which you will be able to learn and apply all the data analytics-related tactics and strategies. You will also learn how you can incorporate, adapt, and use your big data in generating ideas to increase sales and maximize ROI.
You’ll learn How to:
- Create and format measures and KPIs.
- Build Excel Data Analysis Model.
- Convert Excel reports into usable data to perform further analysis.
- Describe the trends in Business Intelligence (BI).
- Describe the data analysis process in Power BI.
- Use the key visualizations in Power BI and describe the rationale for self-service BI.
- Create valuable reports that help to manage the ever-evolving volumes of data.