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Customer dissatisfaction can often arise because of certain channel strategies that are being developed in silos. Thus, one solution that many companies have used to address this issue is known as the omni-channel approach. In this blog, we will discuss the benefits of the omni-channel strategy and how it can help your business to improve.
Big data is immense, both in volume and complexity. As such, it can often be a difficult resource to store, manage, and utilise effectively. To address this obstacle, however, the practice of data integration has been developed, whose role is to prevent the mismanagement of big data by consolidating it. This blog will focus on the challenges of data integration, but before doing so, we will provide a basic outline and example of the data integration process.
Data is the fundamental requirement to accurately mapping out your customers’ journey. Without access to data, the most your company could do would be to make unsound speculations about your customer’ journeys, as with no hard evidence, accuracy would be compromised. However, having a solid foundation of data helps you to precisely determine the path your customers take to reach your services, and allows you to learn about their basic needs, tendencies, interests, and more.
Data runs companies. It is a simple fact that no one can argue against nowadays. Everything from examining trends in labor time and production, to minimising safety and business risks throughout the supply chain, to forecasting new openings in the market - nearly every section of operations relies on the insights of data. As such, making sure that data is secure, consistent, accurate, properly managed, and free of gaps is extremely important. One of the largest problems, however, that separates successful companies from the unsuccessful is data disparity. Thus, in this blog, we will discuss the causes and challenges of data gaps within your company, as well as provide you with a simple way you can overcome this hurdle.
In today’s fast-moving and highly competitive enterprise environment, data governance is integral to keeping your business afloat. As more and more businesses have shifted to the digital world, the influx of customer data has increased significantly as well. Although the accumulation of customer data is critical, utilising that data to derive meaningful business insights is just as, if not more important.
In order to both acquire and retain customers, it is integral that businesses harness the insights of their customer data in order to make precise business decisions. This process is commonly regarded as data monetisation. In today’s society, however, possessing only one or two sources of revenue is sometimes not enough to support a fully fledged business. It is thus important that your business uses data analytics to expand its niche by providing new services, which will ultimately result in increased streams of revenue as well as funds. In this blog, we will discuss the importance of generating new revenue streams through data analytics and some steps you can take to perform this.
In recent times, digital databases have grown tremendously in size across the globe due to both the transferring of physical information as well the generation of new data via digital activities. One issue this increase poses, especially to small businesses, is known as data overload. According to an online survey recorded over a span of 10 years, our collective digital activities have now generated almost 60 zettabytes of data, and are set to reach 149 zettabytes over the next four years. With such vast amounts of information, businesses often grow overwhelmed and as a result, this can disrupt the efficiency of daily operations. One common and practical procedure that aims to resolve this issue is known as information governance. In this blog, we will discuss the meaning, importance, and challenges involved with information governance.
Big Data — which refers to large volumes of data obtained from numerous sources including customer databases, social networks, and business transaction systems — has recently taken the world by storm, especially within the global economy. In fact, a report from McKinsey Global Institute estimates that Big Data could generate an additional $3 trillion in value every year in just seven industries.
Data provides an intricate understanding of your company's audience. Organisations often collect consumer data to gain a clearer image of their customers' behaviour, as well as to define the general demographics of their clients. Furthermore, freely accessible data makes it significantly easier for the company to strengthen the link between them and its clients. When a business becomes more familiar with the demographics as well as profiles of its clients, the company can make real-time changes to the business to fit customers' needs and thus, improve the overall client experience.
In the modern digital landscape, data is one of the most powerful and readily-accessible assets that companies can possess. Everything from how long a certain client views a page for to the type of products most often purchased can be translated as data. But have you ever wondered how some of the largest and most successful companies around the world utilise such data in an effective manner? The answer to that question is simple: it is because they closely align their business strategy with their data strategy. In this blog, we will highlight the importance and benefits of aligning your company’s business and data strategies.
