Knowing your customer and their needs is crucial for success. Industry leaders find it seamless to execute a successful campaign when their marketing strategy is aligned as per the behaviour of the right target audience. Understanding the market for your product/ brand is possible with analytics- marketing as well as business.
While marketing analytics helps you to maximise your channel-specific ROI by measuring and optimizing your campaign activities, business analytics enables you to devise an effective data-driven strategy by becoming more familiar with the desires and pain points of your targeted customers.
1.Crunching Big Data for Efficiency
As per a report by Accenture, 79% of enterprise-level executives believe that companies will lose their competitive edge in the market, and a further 83% affirming that they have pursued big data projects to stay ahead.
Crunching data in simple terms means the preparation of automated processing of big data. Such large amounts of information is useful to gain deeper understanding of the processed data. Integrating fast data processing helps to keep your organization relevant in the ever-changing environment. It also enables you to make your current business model more efficient by harnessing business intelligence through platforms like cloud computing.
2. Shape Your Product Better
This story is from the April 2021 edition of Siliconindia - India Edition.
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This story is from the April 2021 edition of Siliconindia - India Edition.
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