The integration of modern technology in businesses makes significant advantages both on the company’s and the consumer’s side. For the company, the deployment of technology increases the productivity and efficiency of its employees. It also serves as tools for evaluation, planning and decision making. Technology also provides convenience and a more effective communication gateway to make business to business and business to customer relations more effective in the long run.
What is data analytics?
Most businesses accumulate huge amounts of data, both structured and unstructured, in running their day to day operations. These data come from different internal and external sources, including company supplied information about its products and services, financial reports, strategic management plans, marketing strategies and campaigns, tactical operations data, customer feedbacks, sales generation, etc. In the past, business people already found a big potential for gauging overall company performance as well for each company division through deep analysis in the data it has. Data analytics can effectively generate results that provide different perspectives, analysis and valuable information about different sides of the business. It is usually done by manually applying techniques in unearthing more significant information that can be valuable in decision making or daily company operations.
Data analytics is actually a science already, which applies predetermined and systematic ways in order to retrieve useful information from both raw and processed data. Its process also starts since data gathering, to filtering unnecessary parts of the data, to applying standard and in depth analysis to it by looking for patterns or correlations in the data, then generating reports that can effectively assess company performance of today, and give predictions that can aid future decision making. These reports also help businesses or organizations in discovering better use of data, asides from just storing more and more of it. It also gives more valuable insights apart from using it to help visualize the present status of the company. It is also more than customer profiling, calls and feedback monitoring. Data analytics is a powerful tool for providing the best interpretation of collated historical and present data.
Data Sources and Communication
Business or company data usually comes in different forms like customer data, financial reports in graphs and charts, inbound calls and other customer communicated information like complaints and inquiries, or minutes of the meetings. These are collated from internal sources (departmental data) and from external sources (customer data) as well. Business data are essential to have a generalized view of how a company is operating and functioning. It also help in evaluating performances and strategies implemented.
Communication is the basic gateway in gathering data from outside sources. In a business, the most vital source of data is coming from its market, most especially from its clients. Customer needs are what drives a market, it is where the goals of a business arecentered at, making sure that their demands are met and sustained wherever and whenever they want it. Customer feedbacks are also vital in improving and maximizing the potential of a product or innovation, as well as a more warm response towards building solid customer-business relationship. A business should open many communication gateways like legacy phone systems and web based communication media like the VoIP (Voice over Internet Protocol), email, chat and SMS. A business not only focuses on gaining more clients, but also keeping the ones they have for a longer period of time. Market competition is especially tight nowadays, with all the different kinds of innovation being offered, and the continuously growing number of service providers offering the same or similar products and services. Developing a market edge is a major contributing factor in sustaining competitiveness of a certain company or business. An effective communication network within the company and to and fro its clients is one of it.
Data Sources and Call Tracking
There are ongoing debates about email vs. phone calls as being the preferred, or the most effective way customer relations with businesses. But actually, it is really hard to tell and the matter is very subjective upon the type or service or product concerned, or how immediate the answers to specific queries is needed. It also depends on who initiates the communication. Often times, businesses make use of email especially when they needed the information exchange to be formal and documented. On the other hand, customer inquiries who are making online purchases need an immediate way of inquiring about more details in the form of a quick call to the prospective service provider. Though inconclusive at the moment, these two methods of communication are among the most popular ones in the business. Here are some quick facts and demographics from a series of surveys and market researches concerning different forms of communication methods:
- According to Infographics by TalkDesk in 2015, 80% of its respondents prefer using a phone in communicating. If phone is unavailable, 68% choose to use the email.
- According to NewVoiceMedia study in 2014 that is cited in MarketingCharts website, 45% believes that calling is the most effective way of communicating with a company for their concerns and complaints, compared to 19% that chooses email and 13% that use the social media.
- In a national study conducted by The Touchpoint Study in 2014 of 3000 respondents, despite of being in the digital age, calling is still the most preferred way of reaching companies regarding issues with 52% vs 23% who prefers the email. Also, 17% prefers communicating it in person, and only 1% use the social media.
Among other modern methods of communicating, the legacy phone systems continue to maintain its stand as an effective and secure way of communicating whether in personal or business use. By the mere fact that it has already established a very wide communication network across the globe via the PSTN (Public Switched Telephone Network), it remains to be one of the more preferred way of customers in communicating with businesses regarding their products or services. It feels like an instant instinct already. Many express their confidence that they will be given an exclusive attention and will be more satisfied with the interactive setting that phone conversations can give. It is the usual and standard way of inquiry and expressing interest among customers.
Call tracking is a technique that enables monitoring and gathering of data from inbound calls, to be applied with data analytics, and in turn generate important and valuable reports for the company, particularly its marketing department. It also sealed the gap in evaluating a particular marketing campaign and how it gauged with other campaigns implemented in the past, or simultaneously being implemented at the present. By using data from customer information and call content, reports and evaluations are ensured to be credible and reliable because of data analytics applied to it. On the other hand, a call tracking software is a business tool integrated within a business communication system, to effectively utilize the techniques used in call tracking. Through the use of technology, it automates the whole system, thus gaining the benefits of speed and efficiency in generating reports and evaluation, which some companies need because of the nature of its businesses. The immediate need stems from situations where there is a limited window of opportunity to address its customer needs like in the hospitality industry. It is also important in organizations that make crucial decision making in general, such as government sectors and agencies.
Call tracking softwares are also flexible enough to be integrated with modern communication systems like the VoIP. And with its extensive programming and functionality, it can implement a unified tracking of all data coming from different sources, whether through calls or internet searches. On the web, it also works hand in hand with SEO, which utilizes keywords instead of calls as a medium of trackable data and can still be subjected to data analytics. All in all, a sales call tracking software is an effective business tool that enables businesses to operate in a wider perspective and understanding of its own company and the broad market it is part of. This will give a competitive edge and leverage for the company, and the best call tracking tool will also help it to come up with smarter decisions and more customer oriented products and services.
Data in Action
Data analytics increases the value of raw and unstructured data by looking at it in a different perspective. It follows an order of processes of gathering, filtering, sorting, analyzing and generating reports. Data processing involves science, which entails careful studying of raw data to look for patterns and correlations among them. In a call tracking system, the analysis is made by the platform itself, therefore saves more time in drawing conclusions and making reliable decisions.
Data analytics encompasses several technologies to effectively deliver reliable reports. And all of these technologies make up a call tracking software. They work together to retrieve high quality assessments of your company data. These technologies are implemented in data management, data mining and language data mining and predictive data analytics. All of which make up a modern and holistic approach in enabling data to be put into action, working for the advantage and benefit of a business or organization.
Call Tracking Software Tips
In choosing the right business tools, it is best to keep in mind the specific needs of your company. Then, start to research and make comparisons of different packages offered and different service providers offering the same service. One important factor to consider also is the budget, and knowing how cost efficiency is applied in its system. Phone call tracking softwares are not new in the market, and there are already a number of existing call tracking software providers that suit every need, budget and preference. You can also utilize the internet by searching valuable tips from top call tracking software providers, and inquiring more directly with each of them won’t hurt either.
Want to know more about the best call tracking software providers in the market and that they can offer your company? Check out a detailed and comprehensive call tracking software reviews coming from IT professionals and business people at CrowdReviews.com.
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