Importance
5 Reasons Why Data Analytics is Important for Your Business
5 Reasons Why Data Analytics is Important for Your Business 01 Improve Customer Insights Identify customer’s key problem areas to identify profitable segments and improve customer service through your products and services. Gatorade was able to achieve 15% growth in a single year through customer insights. (Source: Prophet- Gatorade Case Study) 02 Reduce Costs Set up efficient processes, ensure optimum resource utilization and introduce flexibility to address market trends. Carlsberg discovered that giving customers magnetic cards and allowing them to self-pour their beer; resulted in 30% boost in beer consumption and reduced costs as customers moved from fixed price to fixed quantity model. (Source:…
