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Post by account_disabled on Dec 10, 2023 19:09:30 GMT 10
By embracing data businesses will be able to create opportunities and develop solutions that will increase the profitability of existing revenue streams Amazon for example uses its extensive consumer data such as their preferences browsing history and recent purchases to power its product recommendation engine and include frequently purchased together at checkout This function alone helps generate approximately of the company s revenue Create client centric solutions. Customers drive revenue and with the power of data driven decision making wedding photo editing service businesses will be able to develop solutions that specifically meet the needs of their customers Build more effective and productive teams For a company with a data driven organization using data is about more than just improving the customer experience or launching new products Through the use of HR data employee analytics allows companies to build more effective teams and better manage talent especially in a world. Where remote working has become increasingly normalized since the pandemic of COVID Walmart like many supermarkets faces issues with high employee turnover and attrition Using data and analytics the company was able to determine that an employee who quit within the first months represented a net loss to the company and that millions of dollars would be saved if the turnover rate was reduced by Using data this awareness has prompted Walmart to take actions like investing in.
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