CRUSH THE COMPETITION WITH PREDICTIVE ANALYTICS
THE SMARTEST STRATEGY FOR SMALL BUSINESSES TO EXCEL
Big data does not have to be for big brands anymore. To excel in growth, small businesses need to have a deeper understanding of how their customers evolve with their brand. Traditionally, small businesses had relied on historical data and intuition. As companies grow, and their customer relationships change too. This medium can be looked at as a local bar needing to do more than just happy hour to keep Stephen coming in. It doesn’t matter what size or industry your business is but until there is a precise understanding of what your customer wants, does not want, and how they want it, brands will have some financial loss and left guessing.
In the forward-thinking game, brands with the best data win. The data boom is not just for big corporations with an army of analysts governed by Data Science. But with the advances in new technology, social media, artificial intelligence, and machine learning gives small businesses access to the Zeitgeist of Marketing. It provides small businesses insight and foresight with operations, sales, and marketing with efficient solutions to cut costs and increase revenue for tomorrow.
Have the ability to find the most valuable customer, and the agility to adjust marketing automatically to your customer’s behaviour. Based on predictions, have the ability respond with the products, services, and experiences that matter, to deliver tailored experiences for the returning customer to increase sales.
In finding the right solution to affect the small business sales cycles and operation costs, predictive analytics sales forecasting defines where to allocate internal resources effectively. These features are particularly valuable and effective for operations looking to acquire investment capital as it provides recommendations based on foreseeable outcomes and revenue planning with the following:
- Sales forecasting with predictive analytics is the most fundamental process of estimating future sales. Small businesses can now predict future sales based on years of past sales and customer data. These accurate sales forecasts enable companies to predict short term and long-term performance to make informed business decisions. Small businesses can have insight on how to manage operational costs, supply chain, workforce and resources based on their forecasts on past sales data.
- Lead management with predictive analytics not only locates prospects, and tracks lead status, but scores lead by uncovering hidden opportunities for businesses to capitalize upon.
- Predictive pricing keeps brands competitive; maximizes profit while meeting the appeal of the consumer.
In a recent Nielsen pole cited that small business owners lack the time, affordability, knowledge or understanding of technology to make good use of the information. To provide easy access, Data Insight has solved the problem for businesses to have the understanding, agility, and the affordability. The predictive analytics small business report turns data into a roadmap that brands can easily understand to unfold opportunities and take action. Small businesses can now have an easy access forecasting solution while radically reducing the costly labor-intensive tasks traditionally required for data preparation, technology collaboration, to delivering detailed guide designed to help brands crush the competition and dramatically increase ROI.