ICAEW.com works better with JavaScript enabled.

Continue reading

10 key business analytics and how they are used to drive value

Companies are increasingly using data, generated by themselves and others, to make better informed decisions. Never before in history have companies had access to more data or more analytics solutions to turn the data into insights. This article looks at 10 common ways companies use analytics to generate new insights and better decision-making.

The internet is a digital universe that tracks what users are doing, where they are going, how they are browsing and what they are looking at. This generates a massive amount of data companies can leverage.

A good starting point is the corporate website – free analytics tools like Google Analytics allow companies to track the traffic on their website – what search phrases people used, how they got to the page, what they were looking at and in which sequence, how long they stayed, where and when they left and whether they were converted into, eg, customers.