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How data analytics can benefit a business

  1. Customise customer experience

Businesses collect data about their customers from a variety of channels, such as physical retail, social media, and e-commerce. Businesses can use data analytics to create customer profiles that are comprehensive and provide a more customised experience by using this data.

Consider a clothing retailer that has both an online and a physical presence. The company can analyse their sales data and data from social media pages to create targeted social media campaigns for their ecommerce sales of product categories the customers already want.

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  1. Inform business decision-making

Data analytics can be used by enterprises to make business decisions, and reduce financial losses. Predictive analysis is able to predict what will happen in the future if the business changes. Prescriptive analytics indicate how to react to those changes.

A business, for example, can use a model to predict how changes in pricing or product offerings will affect the demand of customers. A/B testing can be used to validate hypotheses generated by models. For a Data Analysis Company, visit

  1. Streamline your operations

Data analytics can help organisations improve their operational efficiency. By gathering and analysing supply chain data, it is possible to identify the source of production delays and bottlenecks and predict future problems. A demand forecast may show that a certain vendor will not be able handle the volume needed for the holiday season. An enterprise can supplement or replace the vendor in order to avoid production delays.

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  1. Manage setbacks and mitigate risk

In business, risks are everywhere. These include theft by customers or employees, uncollected receivables and employee safety. Data analytics helps an organisation to understand risks and preventive measures.

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