There is something that is clawing its way to the top of the business scene. It is in a steady phase, and your business needs to get into the trend or be left behind. We are talking about Microsoft Teams Analytics that looked at and assessed your company’s existing data and used it to make data-driven decisions. It does not only look at the data and analyse it, but it also gives insights into why things happened and even gives suggestions into what is the best next step to do.
Under the Microsoft Teams Analytics, there are three distinct types of business analytics; these are:
• Descriptive Analytics
That deals with data as key performance indicators (KPIs) to assess your business’s current state; and analyse your business customers’ demographics, interests or purchasing behaviour. Moreover, that is also where cause and effect relationships come to the picture.
• Predictive Analytics.
As described, this one makes predictions based on an established trend of historical data. That is best for sales prediction and consumer habit projections.
• Prescriptive Analytics
Based on the business analytic mentioned earlier, this is the part where Microsoft Teams Analytics gives its best-suggested course of action. Prescription analytics uses that information to provide potential solutions based on current situations. These analytics-based its finding on annual or seasonal data. Under this system, it can even make some recommendations on how to price certain products and services.
Moreover, this is not exclusive to large companies anymore. That is is now available to small businesses. As it is, this software covers all the bases for what a business software should be: its user-friendly; it got a drag-and-drop interface; it collates and analyses data on its own; it is easy-to-use; and it is inexpensive. It is no wonder that Microsoft Teams Analytics users are increasing dramatically. In fact, there is a 42 percent increase in data adoption from 17 percent in 2015 to 59 percent in 2018. Meanwhile, businesses only use about 60 to 73 percent of their existing data for analysis, which is a shame considering how much these businesses could have gained when it just utilises all available data.
To gain more, therefore, is to optimise the use of Microsoft Teams Analytics, and here are the ways you can take advantage of this data adoption tool:
1. Improved Call Quality of for Microsoft Teams
Since one of Microsoft Teams’ primary purposes is to communicate, it would be best to improve the quality of its call capabilities. Businesses can do this through Microsoft Team Call analytics. This feature analyses call and meeting quality for individual users. Furthermore, there is even a Call Quality Dashboard (CQD) to monitor the organisation-wide trend of the calls and diagnose problems, and this is an excellent tool to improve performance. This is important because this tool can locate the problem and fix it. To do this, you need to setup CQD to have access to this feature.
2. See When You Meet Your Goals and Objectives
With your current teams analytics and reports now available, this can see the present and past performances against key performance indicators (KPIs) and see if you are meeting your goals and objectives. This way, you can also make adjustments, aim for new goals and objectives, or adjust accordingly.
3. Adjust Your Marketing Strategies
Make changes to your marketing strategy on the fly. With this kind of business analytics, you can anticipate every change in the data, and adjust as you go along to better match the situation. So, nothing will go to waste.
4. Know What Is Trending
With Microsoft Teams Analytics ability to predict, you can be in the know with all the latest trend and use it to your advantage. These can work for seasonal holidays like Christmas, Valentine’s Day, and even Easter. You can even make adjustments when your competitor announces a sale.
5. Improved Decision Making
Business analytics is using data to make decisions which improve accuracy, efficiency, and response time. Thanks to its ability to identify any breakdown in the process in almost real-time, it can save time, money, and resources.
Successful big businesses are already using Microsoft Teams Analytics. They are getting all its benefits, from data collection and collating, that gives a snapshot of how the company is currently doing; predicting what may happen next; and offering an informed decision that needs to be carried out to the dot. Remember, success attracts success, if you want to be successful surround yourself with successful people. These explain why most of us want to have a chat or interview with business leaders like Bill Gates, Elon Musk, Jeff Bezos, Warren Buffett, and others. If that is not possible, emulate what they do, use those resources they have, you will be surprised that success is just lurking around the corner.