New technologies like AI and IoT are making data more abundant and complex. Businesses are collecting all types of data, but the methods to analyze and research are not keeping up. That’s the ‘big data’ problem many organizations are facing.
Our team recently went through a vast amount of customer and sales data for a client, about three year’s worth. We were able to identify trends in customer attrition as it relates to purchasing activity. The information we analyzed led us to conclude certain things that went on to invalidate some key assumptions made in the company’s ongoing marketing efforts. As a result, the business was able to readjust their focus, and budget. That insight led to more effective campaigns and thus better acquisition, and re-acquisition, of customers.
If you find that you have the data, but not the means to use it, contact us and let our team help you gain better insights into your business.