Business Analytics consulting usually analyse company data and market data to
understand the trends, business weakness and other important details. This data
can be studied and used as a tool in making important decisions. Since data
plays a vital role in any organization, the relationship between the numbers as
well as the results is studied to help explain what exactly is working well for
the organization and also throw light on some things that should be completely
avoided in order to succeed.
Business Analytics Consulting firms
becoming quite popular nowadays as lot of data is easily available and
organizations feel the need to leverage this data to improve internal
processes, remove wastage and optimize the business operations. Analytic helps
different aspects of a business. It can help in
- Improving the effectiveness of marketing spend
- Optimizing the sales force effort
- Supporting data based decision making
- Reducing cost of supply chain and distribution
- Enhanced customer experience through past and foretasted behavior
Business Analytic Consulting Firm starts by
identifying major issues in an organization which can be resolved through big
data and analytics. They rely on existing data to draw their insights and
actionable items as the new data won’t have a benchmark to compare. The best
part of analytics firm is that they create operating models to provide these
insights and actionable items to the right people at the right time.
Just to give an example of a pharmaceutical sales
representative. The sales representative has just visited a doctor and is
thinking about which doctor to visit next. Analytics firm will analyse the
speciality of the doctors in the nearby area, their office timings, average
wait time at the doctor, importance of the doctor for the specific medicine etc
to provide the suggestion to visit a particular doctor.
This is just the tip of the iceberg. We can do so much
more !!
No comments:
Post a Comment