The world is changing faster than ever. In order to compete, businesses need to find new ways to stand out from the crowd. With business data analytics, you have a tool that can be used to reduce costs and increase market share. Take a look at how the companies below are using their processes to transform data analytics in business:
Amazon has some of the most robust data sets of any company on earth. They know when people are shopping, what they buy, when they buy it, and what their personal information is. This gives them a huge amount of analytical work. However, they have managed to overcome giant amounts of data to arrive at key insights using algorithms that help them detect the best ways to deploy their marketing, pricing, and partnerships in the marketplace. They have even perfected the web hosting model by looking at the data of how long a company needs to have service on average to avoid negative customer complaints.
When your business has customers that need to be managed, there are fewer better software solutions than Sales Force. This company uses data from their CRM platform to help you determine the best time to follow up with key customers and which tools to reach out with.
Businesses everywhere need to engage their customers and keep them coming back. That is exactly what Toby Scammell’s data analytics company does. It helps businesses track their success online and define their ideal market so they can boost their reputation and speak directly to their core market for better profits.
Being one of the world’s largest retailers has its perks. Walmart uses their data to make decisions about stock levels and pricing. Their model can and should be followed by any brick and mortar business.
For marketing teams, Hubspot provides a wealth of analytical tools. Understand what your conversions are and what the data means with their guides. Hubspot has changed business data analytics from being something intimidating to being something anyone can use in their business on a daily level.
When it comes to business, having the right analytics on your data is key. Without the numbers, you can’t perform the way you want to based on quality information. That’s why it helps to know how other companies are leveraging their data. Use the examples above to know how to move forward in a way that is dominant in your marketplace so you don’t fall behind.