Big Data and Predictive Analysis can help banks gain invaluable insight on customer behavior and preferences leading to better product offerings, new business opportunities and increased profit.
The dynamic nature of the insurance industry requires instant business decisions. Data analytics can provide insurance companies with the right information leading to correct decisions with regards to defining the premium rates, detecting false claims, determining risks and coming up with sellable offers.
By using analytics to learn more about their customers, their behavior and trends, telecom companies can come up with tailored packages that are more likely to be successful in this competitive industry.
Analytics help identify new trends and growth opportunities. It provides marketers with insights into customer pain points allowing them to tweak and model their product or service to best suit the customers’ demand.
Succeeding in retail business is majorly concerned with anticipating the want of customers. Firms that integrate analytics to drive their business can become proactive resulting in better performance.
Analytics and intelligence will facilitate to trace and monitor investors’ or clients’ transactions, and their patterns of subscriptions and redemption.
Data analytics not only helps the hospitality industry to come up with custom packages, but also provides valuable insights on how to improve their own services.