Data Analytics as a Decision-Making Tool in Business
Data can be categorized as nominal, interval, ordinal, and ratio. The application of analytics in making business decisions goes by planning better. Data Analytics helps businesses in optimizing their performances by implementing various business models. Organizations that implement customer behaviour into their operations witness a rise in their overall profits by helping them in reducing the cost by identifying more efficient ways of doing business. (The profit percentages are subject to change). Decisions can be automated using algorithms and technologies. Customer data is invaluable for businesses who wish to improve their performance and leverage their insights. Let’s find out more.
