How does one measure the success of an organization in the age of insight and business intelligence? Enterprises today run on a strong foundation built on the clarity and efficiency of the data that they possess. Highly beneficial data analytics that gleans business insights faster is the lifeblood of the data economy and every business' evolution is plainly dependent on analytics.
Efficient customer communication is the basis for gaining the trust of a loyal customer base for any business. While data science-backed approaches in customer service and retention have massive benefits, attention must be paid to the quality of customer communication. Cloud-based solutions and AI must be leveraged for more promising customer communications.
Organizations depend heavily on customer data for predicting sales trends and coming up with strategies for successful sales campaigns. Maintaining healthy customer data is a high-priority requirement for a flawless revenue stream for any company. Customer data is arguably one of the most valuable global resources today.
Chief revenue officers of big brands often are tasked with finding the right balance between short-term revenue pursuits and long-term brand equity building. The emergence of advanced marketing analytics and Big Data is making this job much more challenging. As data is becoming more voluminous and yet more precise, what are the challenges it poses to brand equity?
Technology is spreading its wings to provide a profusion of opportunities. We have millions of smart, interconnected devices and complex systems that are enabling us to do much more than human potentiality. But the hard fact is, these systems are not foolproof and highly vulnerable to cyber-attacks.
Software development is the biggest trend in the IT industry. Digital transformation, software modernization, cloud computing are some of the sought-after practices to prepare businesses for the current and post-COVID scenario.
Where there is a necessity, there is an invention. When the F&B (food and beverages) industry saw a downfall, it looked out for ways to rise above the COVID-19 pandemic. Some of the innovative concepts such as contactless dining, DIY meal kits, cloud kitchen, etc. have been enabling F&B players to sustain their business & recover losses.
Reading, analyzing, interpreting, and gaining insights from data is crucial for every business. And almost every stakeholder involved needs to understand it to better assess and rethink and reevaluate their processes. Now, this need to process data has led to data democratization so that even the non-technical teams find it easy to interpret the same.
The year that it was! While 2020 may have taught us many things – our relationship with technology – was altered forever and how.
Call it the new normal or wishful sundry names, digital dependency and increased screen time led to newer innovation and technological advancements.