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What is Strategic data Analysis?

Strategic Data Analysis is the application of analytical skills in support of an organization’s strategies. It can be used in any business, but it’s particularly useful when looking at the long-term effects of decisions, such as price increases or reducing product availability. Strategic Data Analysis can help you visualize, understand, and observe data that is critical to understanding your business. It helps businesses identify trends without spending a lot of time or money. The goal of strategic data analysis is to observe, assess, and understand potential risks in the current environment.

For example, if your business partners are selling their products at more than 30% discounts on Amazon, it may be time to start producing your own products instead of buying them from other companies. An early-warning system for product pricing or competitive intelligence are just two ways the use of strategic data analysis helps businesses stay ahead of their competitors.

However, you don’t need to be the competition to benefit from strategic data analysis. Once you can see how your business is doing, you can take actions that will improve the profitability of your company. These actions might include raising prices or increasing production levels. By observing trends in the workplace and taking steps to fix any discrepancies before they become problems, employers can save money without having to fire employees. This also works for individuals who want to make informed decisions like deciding where to purchase an item instead of simply buying whatever is available at Walmart or Target.

Important Sources of Information for a Strategic Data Analyst

Assess the performance of your business environment. This involves gathering data about your company, your markets, and how you interact with these markets. Start by collecting information about the work environment to include things like emails, conversations, or notes written on a whiteboard. Data could be recorded by taking photos of the board or asking employees to document their interactions for your records.

You should also collect information about the market that you operate in. You can obtain this information by talking to customers or sales representatives who may have insight into what’s happening in the market outside of the organization itself.

Even if you don’t have direct access to data related to your business, you can still gain insight by examining trends within your company. To see how your company performs when it comes to certain tasks, identify the cost of each task you perform. Then collect information on when employees are doing these tasks to see when they are productive and efficient, and when they aren’t.

Make note of tasks that employees frequently perform. When an employee is repeatedly assigned to perform the same task or doesn’t get enough time to do it effectively, he or she may be performing poorly in other areas. If the employee simply needs more training so they’re better equipped to act on data before they can effectively do their job, then you’ll know which employees need additional training fastest.

Evaluate consumer demand within your industry. If you’re a car salesman, you’ll want to know what consumers are buying and at what price point. You can observe this information online or by going to a dealership and talking to the employees who sell cars.

If your business’s success depends on consumer demand, then observing trends in consumer behavior is a necessary step in strategic data analysis. Customers’ buying habits change over time due to new product releases, advertisements, or other factors. Knowing which products are popular can help your company make better decisions about which products to sell in the future.

Fintalent’s Marketing and Analytics Freelance experts have accumulated many years of experience in strategic data analysis and can help businesses get started in their data analytics need.

Hire related Fintalents

Hire the best Strategic Data Analysis specialists in 2,900+ industries

Fintalent is the invite-only community for top-tier M&A consultants and Strategy talent. Hire global Strategic Data Analysis consultants with extensive experience in over 2,900 industries. Our platform allows you to build your team of independent Strategic Data Analysis specialists in 48 hours. Welcome to the future of Mergers & Acquisitions!

Why should you hire Strategic Data Analysis experts with Fintalent?

Trusted Network

Every Fintalent is exclusively invited and vetted.

Ready in 48h​​​

Hire efficiently. Your M&A team is ready in 2 days or less.​​​​

Specialized Skills​

Fintalents are best-in-class - and specialized in 2,900+ industries.​

Code of Ethics​​

We guarantee highest integrity and ethical principles.​​​

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Frequently asked questions

Most frequent questions and answers

What clients usually engage your Strategic Data Analysis Consultants?

We work with clients from all over the world. Our clients range from enterprise and corporate clients to companies that are backed by Private Equity or Venture Capital funds. Furthermore, we work directly with Family Offices, Private Equity firms, and Asset Managers. Most of our enterprise clients have dedicated Corporate Development, M&A, and Strategy divisions which are utilizing our pool of Strategic Data Analysis talent to add on-demand and flexible resources, expertise, or staff to their in-house team.

How is Fintalent different?

Fintalent is not a staffing agency. We are a community of best-in-class Strategic Data Analysis professionals, highly specialized within their domains. We have streamlined the process of engaging the best Strategic Data Analysis talent and are able to provide clients with Strategic Data Analysis professionals within 48 hours of first engaging them. We believe that our platform provides more value for Corporates, Ventures, Private Equity and Venture Capital firms, and Family Offices.

Our Hiring Process – What do ‘Community-Approach’ and ‘Invite-to-Apply’ mean?

‘Invite-to-Apply’ is the process by which we shortlist candidates for the majority of projects on our platform. Often, due to the confidential nature of our clients’ projects, we do not release projects to our whole platform but using the matching technology and expertise of our internal team we select candidates who are the best fit for our clients’ needs. This approach also ensures engagement with our community of professionals on the Fintalent platform, and is a benefit both to our clients and independent professionals, as our freelancers have direct access to the roles best suited to their skills and are more likely to take an interest in a project if they have been sought out directly. In addition, if a member of our community is unavailable for a project but knows someone whose skill set perfectly fits the brief, they are able to invite them to apply for the role, utilizing the personal networks of each talent on our platform.

Which skills and expertise do your Fintalents have?

The Fintalents are hand-picked and vetted Strategic Data Analysis professionals, speak over 55 languages, and have professional experience in all geographical markets. Our Strategic Data Analysis consultants’ experience ranges from 3+ years as analysts at top investment banks and Strategy consultancies, to later career C-level executives. The average working experience is 6.9 years and 80% of all Fintalents range from 3-12 years into their careers.

Our Strategic Data Analysis consultants have experience in leading firms as well as interfacing with clients and wider corporate structures and management. What makes our Strategic Data Analysis talent pool stand out is the fact that they have technical backgrounds in over 2,900 industries.

How does the screening and onboarding of your Strategic Data Analysis talent work?

Fintalent.io is an invite-only platform and we believe in the power of referrals and a closed-loop community. Members of our community are able to invite a small number of professionals onto the platform. In addition, our team actively scouts for the best talent who have experience in investment banking or have worked at a global top management consultancy. All of our community-referred talent and scouted talent are subject to a rigorous screening process. As such, over the last 18 months totaling more than 750 hours of onboarding calls, of which only 40% have received an invite-link after the call.

What happens if I am not satisfied with my Strategic Data Analysis consultant’s work?

During your initial engagement with a member of our Fintalent talent pool with no risk. If you are not satisfied with the quality of your hire for any reason then we are able to find a replacement at short notice. There is no minimum commitment per project, but generally projects last at least 5 days and can last 12+ months.

Interested in our invite-only community of tier-1 Strategic Data Analysis experts?

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