Being an analytics-driven organization will help companies to reduce operational costs and increase revenue. Data analytics offers an unparalleled opportunity for the business owners/managers to make better business decisions, This has forcing organizations to invest more in big data analytics. The importance of Bigdata in business decision-making process lies in the consistency and continual growth of the organization. It enables the organization to create new business opportunities, increase revenue, predict trends, optimize business operations, and produce actionable insights.
The ultimate objective of big data analytics to improve the business decision-making process. A recent study found that around 2.5 quintillion bytes of data have generated each day.
The organization has access to different kinds of data from various customer touchpoints: like websites, business apps, social media pages, mobile devices, blogs, documents, surveys, and more. However, gathering data isn’t enough! proper analysis of those data helping the organization to make a better decision.
BENEFITS OF DATA-DRIVEN DECISION-MAKING
- To Improve Customer Engagement and Retention
- Enhance Operational Efficiency
- Increase in Revenue