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Customer analytics is a process by which data from customer behavior is used to help make key business decisions via market segmentation and predictive analytics. This information is used by businesses for direct marketing , site selection , and customer relationship management .
Dashboards aid with budgeting, management control, and wage control. Dashboards are used to present data in a quick and easy to read way. The ability to present data in a quick way with a visual allows for more data to be processed and understood. Dashboards are used for performance reports, sales analysis on sectors, and inventory rotation.
Business analytics makes extensive use of analytical modeling and numerical analysis, including explanatory and predictive modeling, [2] and fact-based management to drive decision making. It is therefore closely related to management science. Analytics may be used as input for human decisions or may drive fully automated decisions.
RFM is a method used for analyzing customer value and segmenting customers which is commonly used in database marketing and direct marketing. It has received particular attention in the retail and professional services industries. [1] RFM stands for the three dimensions: Recency – How recently did the customer purchase?
For example, inspection of the strategic phenomenon of employee turnover utilizing people analytics tools may serve as an important analysis at times of disruption. [ 19 ] It has been suggested that people analytics is a separate discipline to HR analytics, with a greater focus on addressing business issues, while HR Analytics is more concerned ...
Used to teach, explain and/or simply concepts. For example, organisation charts and decision trees. idea generation (conceptual & exploratory). [61] Used to discover, innovate and solve problems. For example, a whiteboard after a brainstorming session. visual discovery (data-driven & exploratory). [61] Used to spot trends and make sense of data.
Tableau Software, LLC is an American interactive data visualization software company focused on business intelligence. [ 2 ] [ 3 ] It was founded in 2003 in Mountain View, California , and is currently headquartered in Seattle, Washington . [ 4 ]
Analysis refers to dividing a whole into its separate components for individual examination. [10] Data analysis is a process for obtaining raw data, and subsequently converting it into information useful for decision-making by users. [1] Data is collected and analyzed to answer questions, test hypotheses, or disprove theories. [11]