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Is Data Tracking Important for Business?

Is Data Tracking Important for Business?

Data Tracking: What is it and how does it work?

Has “start data tracking,” been on your to-do list for a while but every time you Google it, you feel overwhelmed and don’t know where to begin? Today is the day you say goodbye to that feeling forever. Below you’ll take the first steps to understand:

- What data tracking is,

- Which types of data tracking and tools might be helpful for your business,

- How expense management and tracking can increase your bottom line.

It’s time to make the fog around these essential digital business practices disappear.

Data Tracking: the process of collecting, identifying, and classifying individual data points across the data pipeline so that they may be used for analysis. The tools that organizations use to manage their data, as well as the ethical framework that they employ to preserve consumer privacy and security, are all part of data tracking.

Data Tracking tools for your business

Today, it’s possible to employ data tracking and analysis on just about any point of information that can be digitized. In business, common types of data tracking are customer relationship management (CRM) and monitoring, website tracking, like web traffic, SEO performance, and goal completions (sales, newsletter signups, or shares), and employee task and goal tracking. Take a deeper dive and see how you might use it in your business:

Customer Relationship Management:

A customer relationship management (CRM) and monitoring solution is essential for every business owner. Everything from lead generation to client retention is tracked in this way.

Salesforce: Salesforce is the leader in the industry of CRMs. It includes sales, service, and marketing management options. Small businesses may find the tool expensive, but there are starter packs that don’t break the bank.

Pipedrive: Pipedrive is sales-oriented tool focusing on customer acquisition. It offers contact organization, lead categories, managing customer calls and outreach actions. Less expensive than Salesforce, Pipedrive is a less expensive option for businesses looking to scale up lead generation.

Website Tracking:

The two main pillars of website tracking to set up are: website traffic and SEO tracking.

Website Traffic:

Are people visiting your website?

Google Analytics: This is one website tracking tool we hope you already have in place! A free tool, Google Analytics enables users to track up to 200 different metrics to measure how their websites are performing, including: website users, bounce rate, sessions, and conversions.

SEO Tracking:

How do you know if your keywords are working?

SEMrush: SEMrush is the top tool for keyword ranking. The software delivers reports on your site’s keyword rankings, at any given moment or over a period of time. The tool allows you to see how your competitors keyword rankings compare to your own, so you can decide if a keyword strategy is working, or if it’s time to pivot.

SERPWatcher: Another powerful keyword monitoring tool, SERPWatcher reports on each keyword’s ranking, how its position has changed over time, and search volume. It is less expensive than SEMrush.

Employee Task & Goal Tracking:

Not everything happens online! Let’s explore employee task, goal, and expense tracking. Digital tools for managers to set up for employees include project management software and expense tracking.

Project Management:

Are goals being reached?

Trello: A top project management tool, Trello is a digital whiteboard that allows you to see what is being worked on, who is working on it, and where they are in the process.

Asana: Similar to Trello, this software comes packing more control and detail when managing and monitoring projects. For projects with multiple team members or several phases of development, Asana might be the more powerful choice.

Expense Tracking:

Is spending within budget and optimized?

Jenji: Jenji’s expense management software is a complete solution to generating and managing expense reports. It offers powerful analysis tools to compile and analyze data for the needs of each of your company’s departments, entities, or countries.

What are the benefits?

The benefits of integrating data tracking tools into your business are many.

Knowledge is Power

The more you know, the better you can understand, plan and react within your business. Aggregating and analyzing data in customer relationship management, website presence, and employee spending management gives you a clear picture of the state of your business, allowing you to make informed decisions.

Spending Management

By using a spending tracking tool, you are able to get a grip on real ROI of your company. You can trim or increase spending as needed.

Accelerated Business Through Analytics

Once you’ve defined and synced your company policies into these tools, say goodbye to the headaches of building a company strategy: you’ll see where you are and where you need to go with just a glance at the reports generated by the tools. No more time lost navigating without a compass, you’re ready to go.

Track your data with an expense management solution

Jenji is the first expense management solution that offers a complete integration into your financial and HR software. With Jenji, you can track, control and validate employee expenses, organize and archive invoices, analyze data to optimize expenses, identify fraud attempts, and refine your budget forecasts. When it comes to data tracking, Jenji is the complete expense management tracking solution for modern business.

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