What are you doing right now? If you are trying to know how data analytics can help you grow your business, you are not alone. Research suggest that as much as 55% of companies are rapidly searching for and engaging in some form of data analytics to get a hold of what exactly moves their customers to purchase from them and what doesn’t.
Now, there is a lot of data online.
And as a business owner, it can be difficult to get hold of the exact data analytical techniques that can grow your business. From retail to banking & finance, to medical and a whole range of industries, everyone is now dependent on data to make their life easier. Innovative applications like Virtual Data rooms are revolutionizing the way we function.
From terming big data as just an overhyped catch phrase, people from different industries have started noticing the worth of Data Analytics. Financial transactions have changed and so has every other industry, as Bernard Marr points out here in this article on the applications of Big Data.
So, we have compiled 5 of the best TED Talks that reflect and provide information on how data analytics can be used for your own business. Whether you are dipping your feet in data analytics or would love to use storytelling, there is a TED Talk that takes you through all of these and even suggests future trends in data analytics.
1. Data analytics for beginners
If you love sports, this TED Talk on data analytics is going to be an interesting watch since Rajiv Maheshwaran points out why data analytics can be a win or a lose situation not only in sports but also in business.
He uses an analogy of basketball and builds on why machine learning is coming to the aid of firms to quantify every aspect of business through the use of data analytics. The importance of movement tracking becomes even more relevant as you watch the video here.
2. How you can use Data to simplify your day-day life (using Storytelling)
Remember the time when you enjoyed visualizing a story being told with all the beautiful details, the color, and the shape peppered with a little bit of humor?
Ben Wellington takes us through the same journey as he narrates his experiments with data analytics in this TED Talk. Casual observations in NYC lead him to carry out a case study. These interesting insights once published on his blog went viral thereby generating curiosity in the concept of storytelling in data analytics.
It takes it further by explaining how offline data can be beneficial to companies. By taking the example of an election candidate, the TED talk revolves around the discussion that businesses have to actively segregate their customers under the psychographic segmentation and use data analytics to understand it further.
4. How Data Analytics can help improve your employee performance.
Social interaction at the workplace can make or break the way change is accepted in organizations. It can be a smooth process if we know how frequently and well do different teams across departments work well to execute projects.
Data Analytics as seen in this TED talk dwells on how analyzing data brought about a double-digit increase in sales thereby leading to a conclusion that if applied well, data analytics can be a game changer for many businesses.
He begins with the example of a humble apple pie and through this engaging conversion steers it towards the growing importance of data analytics in day-to-day activities. Machine learning and the growing need to include it in business activities has also been outlined in the TED Talk video.
Wrapping it Up
It’s clear that learning and implementing data analytics can take your business to another level. Even as a career prospect, Data Analytics opens up a lot of doors and one can interview for exciting job opportunities in top companies.
If these TED Talks are anything to go by, then investing in data analytics is going to be the best thing for your business. Try some of these methods to analyze data and the data points in your own business to improve productivity, efficiency and also drive higher revenue.
Got some more interesting data analytics videos to share? Share it with us in the comments!