I know what you are thinking: psychology and analytics don’t have much in common. So as an analytics expert, why should you be learning about psychology? Because it can greatly benefit your digital analytics business.
In my last post about how to grow your emotional intelligence, I discussed how people are one of the few unifying components across all businesses. We interact with people on a daily basis. However, interactions with others can be difficult. In fact, some of the biggest problems people face in their jobs today are problems with people, not problems with technology.
That’s why there’s an urgent need to focus on psychology to improve our people skills in today’s businesses, which as a result, will improve technology skills. So what kind of psychological insights can benefit your digital analytics business? Let’s take a look at 3 different theories.
1. Psychology teaches you how to deal with failure
We all have very specific metrics and KPIs to meet in our organizations, but the reality is that we may sometimes fall short. As an analyst, you are constantly trying to tell a narrative by using data to come up with the reason why something is happening. But at times, your story may not be correct. If you let this failure go unchecked or let it eat away at your emotions, it tends to impact the way you work with others and the work that you do.
So how do you decrease your bounce-back rate for the next time you fail? You first have to keep in mind that failure is going to impact you no matter what, but psychology teaches us to listen to our emotions and work through that impact. It teaches you how to bounce back faster and move forward, and do better in the future.
That way, you can try to keep hitting those goals, like how to best increase revenue and how to optimize your digital interfaces.
2. Psychology teaches you about relationships
There are a lot of nerds in the analytics industry, and I’ll admit, sometimes we can be hard to work with! So if you are not paying attention to your own emotions, you are going to have bad working relationships. You may not collaborate, you may be too competitive or passive aggressive, or even worse, you may not treat your coworkers with respect.
Effective interpersonal communication is a key psychological component to any working relationship. It can help with team-building and when dealing with problems that may arise in the workplace. This type of psychology teaches you to work better with your coworkers. It teaches you how to respect yourself and others, work better with your colleagues, all while reaching your goals and targets.
As a result, this benefits any type of business, but when it comes to analytics, in meetings when you are trying to sell your point or your data story, this technique is especially useful.
3. Psychology teaches you how to connect more with the end user
UX design is a huge portion of digital analytics, and UX design is based on a lot of psychological principles (basically, what people do and why they do it). Users comb through websites on their desktops, tablets, and through mobile apps. But how do you get into the mindset of the user to help better understand their needs?
By diving into psychology, even just a little bit, you’re more likely to better understand your user. You’ll be able to jump in their shoes and uncover transformational insights for your business that will help make your services or products better.
Building a buyer persona will help any analytics business gain better insights as to who the buyer is, their behavior patterns, motivations, and their goals. Once you have an idea on who your buyer is, you can apply what you’ve learned and incorporate funnel analysis to help understand the buyer journey from start to finish.
So that’s a quick summary on the intersection of psychology and analytics, how they work together, and how psychology can benefit your analytics business. These theories are a great way to learn how to bounce back from failure, improve your working relationships, and learn how to understand your users. If applied, they can approve your digital analytics business and as a result, improve what you offer to the consumer. It’s a win-win for all parties involved.