More than ever, everything we do online (and offline eg shopping, refuelling) is recorded somewhere, collected somewhere to be sold and used – somewhere.
Data analytics cannot be all bad. If implemented properly into your company operations, the data it produces will allow you to produce results on efficiency, productivity risk management and more.
A recent survey from A McKinsey Global institute provides an insight into companies that are driven by data are 23 times more likely to bring in new customers, six times as likely to retain them and 19 times more likely to be profitable from reliable data driven analytics.
Provide a better experience for your customer.
Data collection and analytics can play a big part in your company’s decision making process.
Analytics can provide and allow you to decipher buying, browsing or interactive patterns from your customers. Just as important as your customers behaviour, is also your staff behaviours. If you are successful and able to produce good data – the day to day will end with a better experience for any interaction a customer or staff member has with your company.
Improve overall performance
Data can help you realign your teams. Used to discover areas of staff improvement and discover any hidden efficiencies that may be there. Data can be used to project a different data set in a ‘what if’ scenario. Internal costs can be identified, changes made to give you across the board an overall performance boost.
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