Data Analytics surely is an interesting field. The scope is good. So is the pay. Many underestimate the potential data analytics. This can be dangerous. Particularly if you own a business. Have you ever heard of feedback? Your customer gets the chance of voicing their opinion about your product by feedback and thus help you improve your brand. Data Analytics can do the same for your business. Not only that, it can even strengthen your customer base.
Consider this example, you are a cellular service provider. But the market is tough and competition is heavy. How do you ensure that you do not lose customers? For starters, you can analyze their call patterns- when they prefer to make calls, how long they like to talk over the phone, which is the general area they like to connect to.
You can use this info to make a cellular plan custom made for that customer. That would ensure customer loyalty and satisfaction. But when you consider a real case scenario, there are hundreds of thousands of such customers. It’s not really possible to analyze every single one of them and then devise a plan. It seems pretty difficult. That is where Data Analytics comes in.
You can use the data that you have gathered from your customers and observer them. Patterns would emerge. You would see there are groups of people who display the same behavior. This, in turn, could help you devise a cellular plan that satisfies each of those groups individually.
When this is done, customer loyalty increases and so does your customer base. That is the power of Data Analytics. This was just a simple example of what can be achieved using Data Analytics. You can get the idea how it can contribute to the Growth of your Business.