There’s something marketers have always had a love for: It is insight into what their customers really want. Any business that strikes the bull eye takes the larger part of market share. However, processes in the past relied on methods that were NOT so famous for precision. With the advent of Big Data, a lot has changed.
Many businesses, especially retailers, have witnessed and demonstrated the power of Big Data analysis. Some experts have already predicted that retail margins will rise by as much as 60 percent due to effective use of Big Data. But that said; it is NOT only the retail industry that has been impacted positively — You can hardly point to any area of human endeavor where it isn’t making a big difference.
Therefore, it can be said with a measure of authority, that NOT embracing Big Data could amount to business suicide in this day…
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