Data analysis is the process of evaluating data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making. Data analysis includes statistical procedures that usually involve an ongoing iterative process. The data is continuously collected and analyzed at the same time.
There are several varieties of data analysis. Data mining focuses on modeling and knowledge discovery for predictive rather than purely descriptive purposes. Business intelligence relies on aggregation and focuses on business information. Data analysis is divided into descriptive statistics, exploratory data analysis, and confirmatory data analysis in statistical applications. Exploratory data analysis focuses on discovering new features in the data while confirmatory data analysis confirms or falsifies existing hypotheses. Predictive analytics focuses on application of statistical models for predictive forecasting. Text analytics applies statistical, linguistic, and structural techniques to extract and classify information.
The 565 team's background in the latest trends in mathematics & statistics, as well as its background in finance, demand generation and internet marketing position it to assist many growth-focused companies with a variety of data analysis related services to support it during the ongoing growth. 565 believes that accurate data & ongoing analysis is just as vital to a business as is demand generation and deeply understands the modeling fundamentals needed to power these decisions. We are here to help your company grow and support that growth with accurate, in-depth insights delivered to you consistently on time.
The most important aspect of online marketing is consistent optimization of conversion-centric ads. Reviewing metrics associated with ad campaigns and adjusting precise aspects leads to a boost in sales even from an unchanging amount of web traffic. Conversion optimization similarly focuses on acquiring new customers by driving original website traffic utilizing statistics from previous ad campaigns.
Ad Hoc Analysis
Ad hoc analysis is a business intelligence process designed to answer a single, specific business question. The product of ad hoc analysis is typically a statistical model, analytic report, or other type of data summary. The purpose of an ad hoc analysis is to fill in gaps left by the business’ static, regular reporting. Ad hoc analysis may be used to create a report that does not already exist, or drill deeper into a static report to get details about accounts, transactions, or records. The process may be also used to get more current data for the existing areas covered by a static report.
Cash Flow Modeling
Proper cash flow modelling is essential in maintaining a sustainable business and can impact important investment decisions, such as improving access to capital and letting providers have more confidence in your company. Modelling cash facilitates a basis for enhanced analysis of solvency and reveals expectations of future cash flow in a enterprise.
For businesses with finite inventories available for customers to access, it is vital to ensure a demand for product never outnumbers the supply. By understanding inventory forecasting models as well as key metrics concerning reorder points and quantities, a business can stretch its capital by making sure that product is always available while not letting wasted excess compile.
Offer Performance Analysis
Offer performance analysis is a marketing method that revolves around the analysis and optimization around various offers for customers to experience when considering purchasing a company’s product or service. Offers such as “Try your first month free!” or “Sign up now for 25% off your first order!” can be both be tested and allow the results to be analyzed in order to identify which entices customer conversion more.
Cohort analysis is a subset of behavioral analytics that takes the data from a given eCommerce platform, web application, or online game and rather than looking at all users as one unit, it breaks them into related groups for analysis. These related groups, or cohorts, usually share common characteristics or experiences within a defined time-span. Cohort analysis allows a company to see patterns clearly across the life-cycle of a customer (or user), rather than slicing across all customers blindly without accounting for the natural cycle that a customer undergoes.
Churn rate is the percentage of subscribers to a service that discontinue their subscription to that service in a given time period. In order for a company to expand its user base, the growth rate must exceed churn rate. Goals around churn analysis are to identify high and lower performing segments, such as customers that are most likely to discontinue in the near future, and to elicit actional insights into how to reduce overall churn.
LTV (CLV) Modeling
LTV Modeling (Life-Time Value) corresponds to the present and future revenue expected from a relationship with a customer and your business. Also abbreviated as CLV (Customer Life-Time Value), understanding and predicting LTV values for potential and current customers aides in a company’s budget allocations and revenue forecasts.
Elevate Your Digital Marketing
- Internet Marketing
- Facebooks Ads
- Mobile App Install
- Affiliate Marketing
- Display Ads
- Native Ads
- Email Marketing
- LTV (CLV) Modeling
- Churn Analysis
- Cohort Analysis
- Offer Performance Analysis
- Inventory Forecasting
- Cash Flow Modeling
- Ad Hoc analysis