Did you know that your data can be integral in providing you with useful business insights and in helping you solve your business dilemmas? Yes, by evaluating the data about your customers, finances, employees or suppliers, you can find out a significant pattern that can aid you in making informed decisions about your company’s future.
With expert data analytics services from an experienced service provider like Outsource2india, you can stop taking chances and start making decisions that are backed up with evidence from your data.
What is data analytics?
The intricate process of cleaning, examining, modelling and altering the data of a business, so that useful information can be gleaned out is referred as data analytics. By segregating useful information from a huge pile of data, companies can arrive at the right conclusions for complex business ordeals. Data analytics can also reveal information on the trends within your data and its significance in relation to your competitors.
Data analytics can be used for any type of industry
Here are some examples of how data analytics can be used in accordance to the specific needs of different industries:
- Banking and Finance Industry: Data analytics can help your bank with customer acquisition, cross-selling strategies, delinquency, recovery campaigns and customer segmentation.
- Telecom Industry: With the use of data analytics you can analyze every area of the telecom lifecycle, starting with customer segmentation, customer affinity analysis, churning and retention and credit risk management.
- Retail Industry: Data analytics is a handy tool to use if you are from the retail industry. It can help you with your sales analysis, out of stock analysis, lifetime value analysis, brand dynamics and category trends.
- Insurance Industry: With data analytics, your insurance company can easily evaluate legal disputes and the severity of a claim. Data analysis can also help in consumer analysis, cycle time analysis, subrogation analysis and in the detection of suspicious claims.
Why should data analytics be outsourced?
1. Analyze any amount of data with ease: With the vast capabilities of the internet, you can now analyze more information about your customers, suppliers or operations. With the large amount of structured data that is now available, companies are looking at outsourcing service providers who can extract meaningful patterns out of the data and provide conclusions to complex business problems.
2. Get access to skilled professionals: Recent surveys have revealed that the United States and UK have an acute shortage of skilled data analysts. If your company were to hire an in-house team of data analysts, you will have to pay a huge sum of money. On the other hand, outsourcing can give you access to experienced data analysts at an affordable cost.
3. Target a particular market: With social media and the use of Smart Phones, the internet has been flooded with a large amount of unstructured data. This data can be effectively grouped or re-grouped to understand popular social patters and the correlation between consumer behaviour. Data analytics can help you analyze this data and help you successfully target a particular market.
Fast turnaround time of 12 hours, customized data analytics services, access to the latest technology and value added data administrative services are some of the other benefits of outsourcing data analytics. While outsourcing, you need not worry about the security of your data, as the service provider will sign a non-disclosure agreement (NDA) at the onset of the project.
Contact us to know more about how our data analytics services can make a difference to your business.
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