2022 trends: data-driven business
What trends await us in business in 2022? Business experts write about their data-driven predictions for 2022, and the trends to follow. In 2022, implement a data-driven culture into your business and gain further success in your industry.
Being data-driven means being smarter and ready for long-term development
Paulina Walkowiak, co-founder & CEO at CUX
Data-driven business is not a goal to aim for anymore. It’s a fact.
For me, as an analytical tool founder, it has at least two layers. First, in the upcoming cookieless future, we have to be ready for optimization not based on an ads budget, but on knowing your clients’ needs in any way. Second, if you want to grow, you have to measure the growth. There is no other way to optimize if you do not measure where you are. Thus, developing innovative businesses requires smart data-based decisions and recalculating everything constantly. Being data-driven means being smarter and ready for long-term development. On one hand, the lack of users’ behaviors analytics is typical for a hype business based on a temporary trend. On the other hand, if you plan to grow your company and build a significant market advantage, you have to use data that really matters
Building a data-driven culture will help move to the next level
Robert Paszkiewicz, VP Central and Eastern Europe at OVHcloud
We are facing a revolution that started some time ago. And is gaining momentum now. Growing customer awareness and a huge number of offers are forcing changes in the philosophy of addressing services and in shaping the customer’s buying journey.
Most people believe that the pandemic impact was negative. Then again, their outlook towards the future is more than positive (according to the SODA 3rd business survey).
The sentiment increases. User experience, fulfilled promises to customer expectations, quality, and impact. In fact, how we communicate the promise and deliver on it is becoming strategic. And surely will be the factors that will shape our reality.
Although 90% of the Polish companies collect data, very few know how to read it and use it, as OVHcloud’s research shows. A data-driven approach, which we are only just learning, will become the engine that enables conscious and attentive companies to reach the next level. Of course, data-driven marketing will help stand out from the crowd. And, what’s more important, it’s available to any business, regardless of size.
This means we can all win from it.
Data-driven decisions significantly increase business goals achievement
Natalia Kuźma, co-founder & CEO at DiveInData
The capability to understand customer needs and keep an eye on competitors’ moves nowadays is a must.
It isn’t easy to get a competitive edge. And it’s challenging to maintain one. In fact, data-driven business decisions, enhance the likelihood of achieving business goals by 77% (Deloitte, 2019). Hence, market intelligence is becoming ever more widespread. For this reason, analyzing the competitive landscape to improve business performance should be an integral part of operating in every industry. Even small companies can get to essential data like competitors’ websites, opinions about their products, or customer demographics. Insights based on those, and other data help determine the right goals, minimize risk, and establish competitive differentiators.
Implement processes more efficiently and effectively
Konrad Pabiańczyk, Business Architect at UnityGroup
There are a few interesting developments to look forward to this year. Recent changes in consumer behaviors will accelerate, and businesses will adapt even faster to better serve these needs. Look out for the rise of Q-Commerce (quick-commerce), hyper-personalized browsing experience, and process mining as a method for improving processes and eliminating inefficiencies.
- Consumers will continue to eschew in-store shopping for a more virtual experience. The pandemic allowed for delivering food to become standard, but only very recently have we seen products being delivered in 15 minutes or less. What was advertised as the best solution for missing ingredients may well become a corner store killer.
Unique browsing and hyper-personalization
- Websites will become even more personalized. Two consumers sitting next to each other could be served up entirely different websites. This will not only relate to copying or as, but to products themselves — different locations can have varied preferences. This is often seen in physical stores, where the assortment reflects local preferences but will become even more pronounced online.
Process mining for churn prevention and shopping cart drop-off
- Process mining takes event logs and combines them with data science techniques to determine where there is room for improvement. Such methods will be combined with existing UX research to eliminate abrasive touchpoints for a seamless shopping experience. It will be taken further to assess behavior before, during, and possibly after a shopping cart was dropped to help explain why.
Proper and fast performance of a website or application is essential
Michał Szklarski, Board Member at e-point
Business owners and e-commerce managers know very well how difficult it is to acquire customers. We do a lot of work managing paid traffic or analyzing tons of traffic data. We constantly encourage the user to visit our website, hoping that this process will increase the conversion rate. Meanwhile, it frequently happens that a slow mobile site or app, in addition to poor usability, can effectively discourage purchases, despite so many efforts.
When it comes to speed, users are mainly concerned with the smooth loading of content. It is worth emphasizing that the overall efficiency should be associated with the high responsiveness of the mobile site and maintaining the stability of elements during loading. Such actions were taken, among others, recently by Orange, which significantly improved their conversion rate. These elements have an impact on the reception of ads, as well as (which was introduced in the summer of this year) on search engine ranking.
Roll-up brands – the future of the market?
Adam Bogacki, Associate at COBIN Angels
As e-commerce has been strongly accelerating, fuelled by the COVID outbreak, there is a significant rebuilding process going on in this market. Third-party sales in Amazon’s GMV are responsible for over 50% of the total.
This opportunity on the market is being covered by e-commerce roll-ups, which are on the rise now. The concept assumes acquiring, running, and consolidating small and mid-size e-commerce stores or brands simultaneously. Synergies and scale effect make them grow faster than standalone. Therefore, they also get access to huge scopes of data with clients’ behavior that may help them to make more data-driven decisions in line with clients’ expectations. While huge amounts have already been invested in companies like Thrasio – probably the largest player on the market, Perch, Berlin Brands Group, Opontia, the smaller players are acting on CEE and the African market. In the upcoming year, the trend may be continued with a strong focus on smaller brands being acquired.
Do you have an unused marketing budget? What if you were to bet on analytics? Take advantage of the 25 % discount on training and audits with Paulina Walkowiak and be data-driven in 2022. The discount is valid until the end of December, realization in January 2022.
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