Modern business uses this method by applying big data to steer and transform operations and decision-making processes. Analysing big data, large volumes of both structured and unstructured data, allows for trends to be recognised, processes to be streamlined, supply chains to be optimised, and the customer experience to be improved. Marketing strategies are made more effective – for example, with the help of predictive analytics, businesses can predict demand so that they can trigger marketing campaigns at precisely the moment when a customer is likely to respond to the offer. Real-time data processing helps to reduce inventory by precise and localised setting of order points. Data about customers, their exact location, immediate and future needs, likes and dislikes, history of purchases are being used to enhance offers and provide services that appeal to individual customers and increase customer loyalty and satisfaction.
Comments
Post a Comment