Transactional vs. Analytical
The end goal is the same: Get from point A to point B. Whether that’s growing sales, decreasing waste, increasing deal velocity or optimizing revenue conversions – it’s important to know not only what happened, but also why and the behaviors along the way that made it happen. Transactional data is that day-to-day operational snapshot of what happened, while Analytical data tells you why, and how to improve outcomes.
While transactional data is important, it can only improve outcomes by so much. When you have analytical data at your fingertips, you can make decisions that improve revenue generation at the individual customer level throughout the entire end-to-end sales funnel.
Vital Decisions need Analytics
Transactional data is incredibly important to the day-to-day operations of a business. You may see how many calls were made in your CRM, how many forms were submitted via the website, or even how many ads were clicked in an ad campaign. Analytical data connects all of those transactional data points to give business leaders true insight into what all the individual data points mean with regard to the overall picture of the business.