Thought Leadership

5 Reasons Why Your Business Needs Analytics

May 16, 2018

At the core of every successful business are the guts and boldness to constantly push the company to reach its goals. However, companies must see that all of their decisions are guided by good foresight, otherwise they risk costing the company expensive mistakes. This is where analytics comes in.

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In fact, many companies have already started taking the leap as big data is expected to see continuous growth in the following years. By harnessing the power of data, companies will be able to craft smart, on-point, and fruitful strategies.

Here are the ways business analytics can help you expand your business the data-driven way:

It can boost productivity.

Traditional data gathering methods are time-consuming. And for businesses, every second translates to a company expenditure.

Modern technologies, such as the advent of business analytics, streamline this crucial process in a faster, cost-effective manner. It’s such a great productivity driver that a study found an increase of 10% in data usability increased sales by more than 14%, using sales per employee as a productivity measure.