Data-driven Management for the Fitness Industry

Fitness data is transforming the fitness industry by enabling a business to make data-driven decisions and improve their profits. The fitness industry is projected to be one of the fastest-growing industries in the world as individuals turn to fitness to improve their health. Fitness-related devices are very popular, which provides fitness companies with enormous amounts of data they can leverage to offer better service to their clients and optimize their businesses.

Data analytics is an integral part of running a successful fitness business. Analyzing data can provide accurate trajectories of essential data points such as revenue, attrition, membership, and more. Organizations that use customer behavior data to generate insights outperform others in sales growth and gross margins.

Data handling challenges

Unfortunately, many fitness businesses do not yet know how to handle all the data they acquire. This makes the management of data and analysis much more difficult than it needs to be.

Data has to be current, integrated, accessible and detailed to be of any use and this is why using an operational data store (ODS) can offer a solution. The main purpose of an ODS is to query and report on current operational data. The ODS contains operational data from many sources giving end-users a comprehensive, integrated view. As current operational data comes in, previous data is overwritten. Uncomplicated queries on small quantities of data allow for fast responses, more comprehensive operational reports, and more tactical decision-making.

Ways of leveraging fitness data

There are many ways to leverage fitness data in the fitness industry, from boosting productivity and brand awareness to increasing revenue and even creating new revenue schemes.

Find new customers

Marketing efforts can be much more efficient when they are driven by data. Data can help to provide essential insights about potential customers, such as where they live, their ages, interests and where they engage on social media. Fitness businesses can target specific demographics for campaigns, such as people of a certain age who live in the local area, housewives who want to improve their nutrition and fitness, or bodybuilders who want to build muscle.

Deliver unique experiences

Only once fitness businesses have a deep understanding of the health and behavior of their clients can they help them to meet their fitness goals. For instance, if they discover that they want to improve their nutrition, they could find ways to help them fulfill this goal, such as investing in fitness center software to help them track their progress. There is technology that can record what type and quantity of foods they eat and convert this into calories.

Personalize workouts and track progress

With all the fitness trackers and apps available like gym software free download, fitness businesses have access to the activities of individuals around the clock. They can use information like how often and how long people work out, what muscles they contract, and how many calories they burn during a session to personalize workouts.

Trainers can track the progress of individuals according to predetermined goals and make adjustments where necessary to obtain desired results. By warning individuals who exert too much pressure on muscles, they can help to prevent injuries. Mobility workouts can become an integral part of classes and reconnect people to body awareness and correct breathing.

Boost member engagement and retention

With a more comprehensive view of business functions and their current state, it is easier to identify issues as they happen and work on them. It is also possible to offer more personalized experiences, one of the top factors that can persuade members to remain loyal.

Members are often willing to offer their personal data in exchange for personalized offers and discounts. Data such as attendance, equipment usage, purchase transactions etc., can offer insights on how to enhance membership online and offline. Offering more meaningful and personalized experiences makes members feel valued and more likely to keep renewing their membership. Focusing on member needs and behaviors is the best way to increase member retention because experiences can be crafted entirely based on them.

Answer key business questions

Analyzing data can answer descriptive, predictive and prescriptive business questions. Descriptive business analytics give historical perspective by looking back at a point in time. Predictive analytics are directed at understanding the future. Prescriptive analytics are more advanced and look at possible outcomes to try and find the best route to take. By utilizing all these business analytic methods, fitness businesses can find the answers to many different business questions and make the best decisions based on the data.

Predict member churn

Using predictive analytics to identify members who may have a higher risk of churning may involve looking at data such as class attendance data. This may alert attention to the fact that certain members have not attended classes for a while. This gives an opportunity for staff to check in with them and identify any problems or convince them to come back with an offer they can’t refuse.

Stay competitive

Fitness businesses can be very competitive and those that do not use data effectively to produce actionable insights may fall behind. Fitness businesses with access to analytics like attendance predictions, church forecast, and sales need to fully implement their insights if they want to stay competitive and meet consumer needs in the present and the future.

The insights from data can point to business issues and implementation of processes that can save time, resources and money. Without data, they don’t know what new classes their members would like to see on the timetable in the future or any other needs or desires they might have that could contribute to the success of the business.

Conclusion

By integrating fitness analytics into the fitness business, they can stay on top of the competition, gain a complete profile of each member and be able to provide personalized experiences for them that go above and beyond their expectations. This will enhance their brand loyalty and retention, which will improve the businesses’ bottom line. To manage big data and provide actionable insights from it, the use of an operational data store can be a great solution.