What does it mean to ‘drill down’ data (and examples of its applications)?
Analytics can be a confusing realm for even some of the most experienced in the field, possibly yielding more questions than answers. But with ‘drill down’ data, you have the capability to instantly shift from an overview of data to a more detailed and granular view, which could yield some highly valuable insights.
With this approach, you can enable different views on specific sets of information, allowing predefined data hierarchical structures. You can look at things by region, demographic, age group, interests, and so much else. The capability of our analytics tools is incredible, but they can feel a little overwhelming if you don’t know where to look.
The devil is in the data
During the last few years, businesses have relied more on their analytics, particularly as an indicator of which areas can be stripped of resources during more difficult economic circumstances. It transpires that analytics can be seen as the key for survival in tough times.
This is where Xelix can help, particularly when it comes to analysing your finances, seeing where improvements could be made based on the insights of analytics. But naturally, ‘drill down’ goes beyond the financials.
Of course survival is great, but how can the data help you thrive? For one thing, you are able to find specific reasons for certain metrics. You may be able to spot trends on why people aren’t completing purchases, perhaps allowing you to consider making a process on your website easier.
You can also look at the overview and gauge which months of the year are usually the best periods for your business – hone in on that and consider focusing on campaigns for those particular times of year for even greater success. Then consider ways to ensure the other months are accounted for in any potential campaigns. Analytics can give you insights to improve your cash flow all year ‘round.
Variety is the spice of data
The further the drill down, the more representations of data you can find. You’ll receive reports that are relevant to what is being analysed, allowing for tabular reports with analysis grids, heat maps, and so much more. This particular part of the process is what’s known as ‘drilling through’, as it allows the user to pass from one report to another while still analysing the same set of data.
Best of all, you can tailor your dashboard to your needs, allowing for important data and metrics to be available as soon as you open your analytics tool. You can track and compare the performance of your most popular pages, allowing insights that could potentially improve certain areas.
You can apply the same ‘drill down’ processes to your sales and marketing teams respectively. For sales, you can measure metrics like new deals created, sales meetings logged, deals won, and so much more. For marketing, you can look at metrics like social sessions, organic sessions, bounce rate, blogs published, and again, so much more.
It’s pretty incredible what we can do with technology, and analytics is the best way to stay ahead of the curve for your business. Once you pick up the basics, the rest will soon fall into place.