In our efforts to gather and apply data within marketing analytics, it’s important to see the complete picture within the numbers and to fully utilize the insights they reveal, to drive growth. When it comes to data and analytics, many organizations know they need two primary areas of capability: performance management analytics and analytics to support key decision-making models. There’s an essential third capability that is often overlooked; we refer to these observations as Aha! Insights.

These are the insights you did not anticipate and that emerge from studying your data. These insights reveal something unexpected and as a result your organization is compelled to take action. Actions that might lead to:

• Boosted competitive advantage 
• Increased growth by entering a new market 
• Improved strategy and planning 
• Higher ROI and profitability 

Let’s examine each of these and explore the Aha! Insights in greater detail. 

Yes, I Want My Growth Idea

Decisive Actions and the Hidden Value within the Process of Data Analytics

The purpose of business analytics is to answer essential business questions, solve business problems, and facilitate business decisions. When based on meaningful data, we can use analytics, the systematic computational analysis of data, to help us derive actionable insights. Ideally, analytics help surface patterns from your marketing data you use to inform your strategy and plan development and to evaluate and optimize performance.

Essentially, analytics enable a particular function and the rest of the organization to make smarter strategic and tactical decisions. Hence the two primary areas: decision-making models and performance management. Examples of key decision-making models include:

• customer journey maps
• segmentation
• personas
• campaign lift
• lead scoring
• defection/retention
• ecosystem maps

Performance Management Dashboards and Attribution Models are examples of performance management analytics.

All of these models are designed with a business question and decision in mind. You then select data elements and analytics based on what is needed to facilitate a decision or formulate a model. There are, however, valuable patterns that surface from analyzing data as a matter of practice that are outside of these initial question or model criteria – data that upon analysis result in an Aha! 

How to Distinguish an Aha! Insight within Unexpected Data Analytics

Using the dictionary as a guide, we like to define an Aha! Insight as an unexpected AND meaningful discovery from analysis of data that has implications for your organization. The operative concepts in this definition are unexpected, meaningful and implications.

Let’s use the metaphor of an archeological dig to illustrate the idea. Archeologists have a purpose and a plan for how they are going to approach the dig. Sometimes, as a result of digging around, they find an unexpected artifact, something outside what would be typical for that time period, or that location, etc. As they continue to excavate, they find more pieces of evidence that, upon analysis, reveal a different insight about the people, animals, vegetation, etc. than the original hypothesis.

The insight is meaningful in that it alters the accepted view. The additional information is significant enough to cause ripples throughout the scientific community. It has implications. The new data and its analysis created an Aha! Insight.

This happens in business as well. Let’s suppose that your team has constructed a well-defined customer journey map. While “digging” around in Google Analytics behavior flow data, members of your analytics team notice data that, upon analysis, reveals a pattern among a certain set of visitors.

Because you have a team of skilled data scientists and analysts, they recognize that these “shards” of data create a meaningful pattern. This pattern reveals that there may be a group of potential customers who have an alternative buying journey. Upon further analysis, the team learns that this potential group of prospects represents a lucrative market opportunity.

As a result of this Aha! Insight, your team creates an additional buying journey map and modifies touch points to engage this prospective customer set.

Invite the Data to Challenge What You Think You Know

Considering the never-ending flow of business data, finding Aha! Insights needs to be its own initiative. Recognizing unexpected artifacts/trends in the data that imply a larger pattern requires experience and expertise. It takes the ability to look at the data in and out of the context of the original question: seeing what is expected and extrapolating on the implications of what is unexpected.

Data models are based on trends and patterns that by their very nature come with a bias. Therefore, it’s important to have resources and processes to support Aha! Insights. Assigning a person or team to the task of reading data with a spacious, critical, and creative understanding can be an essential part of recognizing these insights when they appear.

It’s important that analysts aren’t tied to specific parameters used to create a decision-making model or performance management report. You need a person or team whose primary responsibility is to be on the lookout for something that invalidates what you think you know. 

Though it may be tempting to disregard data that doesn’t align with expected outcomes, approaching it instead with curiosity can maximize your ability to utilize and apply these essential insights to your advantage. Don’t limit your data and analytics use to decision-making and performance-management models alone. By understanding the complete picture, the data creates, you can use it to develop deeper insights into your market and facilitate a plan of action.

Prioritize and welcome Aha! Insights within the data that’s already at your fingertips. We’re here to help you find them. Book your free 30-minute consultation here.