The Need for Data Analysis
Every business collects data ranging from sales data, customer data, distribution data etc. Companies that get actionable insights from those data take decisions faster. Organizations can now monitor the buying patterns of their customers and know their customers better.
For instance, a company in Lagos analyzed their sales data and found out that 71.2% of their customers in are in Lagos West, Lagos Central 23.5% and Lagos East 5.3%
When they drilled the data further in Lagos West they discovered that 67% of the sales come from in Lagos West, drilling down further into Ikeja they found that that 70% of the sales in Ikeja is along Anifowose and Awolowo Rd axis.
Business Intelligence
This information leads to Business Intelligence. The marketing department of this company, armed with this information should be able to devise a marketing strategy that will target the other remaining part of Ikeja LGA. The sales department is now aware they don’t a presence is Lagos East in spite of the huge Revenue in Sales.
The top-level management meeting will healthy, decisions are made based on insights, not speculations. When insights and intelligence cannot be gotten from data, businesses cannot take important decisions.
Don’t think that your business is too small for data analysis. The insights you will discover will shock you. Remember, information is power.
Call us on for Data Analysis and Visualization services. Our service fees are affordable.