Understand your clients’ need to win.
Understand what they need for it.

The challenging task for any business is winning customers, retaining them with right offerings and meeting their growing and changing demands.

If only we knew right that everything’s about to change, we would not need any information to change other than just carrying out the changes to meet the customer demands. Days have gone when the businesses launch the products and expect the consumers to accept. Unfortunately the tables have turned, and the customers dictate their demands from the businesses, and the businesses could not deny. Big data and analytics have helped businesses to make it easier, and analytics has matured to become a business practice necessary to sustain competitive advantage.

Irrespective of whether the data is captured right or the right data is being captured, businesses have to manage and derive meaning from the unstructured data and to identity the moments of truth. New businesses with disruptive business models have understood this well. They have taken advantage of analytics for their success, with right algorithms to analyze the data they collect at every touchpoint.

While building analytics, businesses should focus on the following.

Descriptive Analytics: Historical/Current, where business stands now
Predictive Analytics: To predict future customer behaviour
Prescriptive Analytics: Future course of action – suggests ways of growing business & profits

Source: Gartner

Analytics help gain better insight to take right steps towards digital transformation and valuable user experience, and help build more personalized connection with customers.
To get these done, businesses should capture the right data and that data should be captured right.

Analytics helps businesses to have strong and unique competitive advantage, grow the sales and retain customers, maintain business integrity by managing risk, predict and meet consumer expectations with more targeted offerings, and gain strategic insights. It provides opportunities for organization evolution and presents a wide range of value propositions.