For any organization, aligning marketing and customer experience is a matter of critical importance. According to a report by Huffington Post, more than 34% of leading businesses said that customer journey was a top priority to them in 2020. Understanding how technology can benefit businesses before settling on the helpful ones is crucial for any organization. One of the most beneficial technologies in this era is data analytics. With this technology, you can map out various behavioural scenarios of your customers and potential clients and achieve a deeper understanding.

Digital transformation is happening faster than anticipated a decade or two ago. This has made data an important asset for organizations of all sizes across all industries, in both public and private sectors. The factors that have led to the rising importance of data include widespread use of the internet, cloud computing adoption, and the availability of different devices and sensors that make up the internet of things (IoT) ecosystem.

Data is the most important component of a business today. Although the concept of big data has been around for years, many organizations have not understood the importance of data. Most of them now understand that if they capture all data properly as it is streamed into their businesses, they can use analytics and get value. However, a good point to begin with is understanding what big data analytics is. Big data analytics is a process that involves the extraction of meaningful insights such as patterns, trends, correlations and customer preferences. It gives advantages and can be used to enhance decision-making in an organization. Modern organizations must embrace this new paradigm to compete effectively in the new business landscape. Here is why you need to get your analytics right.

With the closures of stores and bankruptcies caused by the pandemic, the future seems bleak for the retailers as it is for other industries. It raises the question of what steps retailers need to take to tackle the endless challenges lying ahead. This can only be answered by adopting technology. According to a study by Snowflake Computing back in 2018 and Harvard Business Review, companies that make data-driven decisions have the best chance to survive the challenges in the retail market and remain in the business longer. This makes big data a fortune-changer when it comes to the retail industry.