Alvin Electronics Leverages Machine Learning to Predict and Manage [...]
In todays competitive business environment, it can feel like your sales team are on a never ending treadmill to try and get more customers. For sales and marketing teams, their most important statistic to focus on each month is usually new client numbers. “New sales drive the business”, is a common phrase. But what about client retention, why does It get such less publicity and even less focus internally?
In this case, Big Data refers to the large amounts of data that is collected by businesses each day, either structured or unstructured about their clients or potential clients. Modern technology has made it possible to gain all sorts of statistics and information about your clients and their behaviour, but how do you work out how to use it to your benefit, especially when it comes to client satisfaction.
The sheer abundance of data these days can be overwhelming. (You can read more about this in our recent post about Big Data for business. ) Clients are more willing to give feedback, leave reviews, and interact with a brand than ever. There are also more ways to reach a client with your marketing than ever before. When you combine these two facts, it is clear that data collection is easier than ever. Analyzing the data or your clients’ behavior patterns can be the tricky part. But, there is no point collecting data for the sake of it.
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