If you are like many entrepreneurial Christians in this information age, you probably have some sort of online business. Many Christian based businesses are focused around selling items, such as crosses, Christian bookmarks, homemade quilts, and a variety of other items. Many of these businesses just keep track of cost and revenues, and don’t think about the other things that can affect their business.
To be able to effectively react to the different things that can affect a business, you need to be informed about all aspects of your business. That is why it is important to keep statistical information and use analytics for your Christian Based Business.
It Helps You Forecast Problems
There are many different types of statistics that you can gather about your business. Return on investment, monthly recurring revenue, percentage growth, fees, and other bits of important information. All of this information can be taken together to give you a clear analytical overview of your business, and foresee any problems that your business may have so you can react to it.
Helps in Important Financial Decisions
If you are about to make a financial decision for your business and you have one or more options, if you have no information to go on, then you will be in the dark on what to do. That is where Analytics comes in. With the statistical information that you can gather on your business, it can help you make a more informed decisions about what your next step should be.
Makes Business Easier to Run
Keeping a constant track of the analytics of your business makes it much easier to run. This is especially true if you run a large Christian based business. If you have a large number of products and perform a bunch of transactions, things can get out of hand easily. Keeping a constant eye on transactions and the statistics that go with them, will help your business run more smoothly.
Help You Look at Your Business from Different Angles
One of the keys to success to a business is to look at a business many different ways to help you narrow down the best courses of action and what those courses lead to. With a large amount of information available, you are able to easily do this and analyze the most correct path for your business.
Analysis is important to your Christian Based business for the reasons in this article and many others. Even though you may have heard that you need an advanced degree to use analytics to track your business, it’s not true. It is simple to gather information yourself and analyze it yourself. If you collect payments through an online payment processor, such as Stripe, there are SaaS available that track this information for you. It is relatively inexpensive and gives you a great overview of your business. A great example of this type of service is Abacus Metrics.
Once you start using metrics for your business you will be amazed at how easily things are run. You will wonder what you ever did without them and never want to give it up.