Thus far, we have shown you how big data analysis can save businesses a lot of money by identifying inefficiencies, and driving better decision making. This has been the case for many different industries, ranging from fashion, to insurance, to the medical industry. Now, data is making its way into a new, and growing industry: cannabis.
Check out this podcast from data talk show that discusses how dispensary owners and managers are able to used data analytics to make their businesses more profitable.
In the podcast, they discuss how it can be very similar to “Safeway analytics.” Because in reality, dispensaries are just another retail store. The analytics help determine what products are most popular, thus telling management what products to put at eye level, and how often to re-order to ensure they are constantly stocked on the shelf.
The analytics can also help them save on fixed costs, by reducing labor and staff costs. You might think that Fridays would be the busiest day, so put most of your sales staff on the schedule. But why base such a decision purely on a guess? Dispensary owners can use the data to better determine how many staff members to schedule, and when.
There is a glass with water in it sitting on a table- is the glass half empty or is it half full?
The way you answer the question above may determine how you think about IBM’s new solution for the high demand for data scientists. Data scientists are people who can analyze and control analytical programs that work to sort through large masses of data.
As the amount of data the world produces increases, the need for people who can sort through that data and make meaning of it goes up as well. IBM believes that they can aid this problem with their natural language analytics program which is predicted to be able to do the job of a data scientist.
This provokes the question, is this a good thing? Is this a means to an end or is this the beginning of a war between humans and robots for jobs?
We all hear about Big Data and how it is changing industries and allowing companies like Target to stalk their customers, but do we interact with Big Data in our everyday routines?
Here are two examples of how we are interacting and creating Big Data every day!
Every time you go to your local coffee shop and order your special little cup of delight, you are creating data. The reason we call it data is because you are giving the company information about its customers. Check out this podcast and learn how you are helping coffee companies become more efficient through Big Data just by buying your daily cup of Joe.
Another example of our frequent run ins with Big Data is buying liquor. We all love it and drink it, but how do distributors know what kinds of people like certain types of liquor? Big Data shows liquor companies and distributors how to best sell their product and who their most profitable demographic is. Learn more about how Big Data is revolutionizing liquor distribution through this podcast!
Does change scare you a little? That’s okay, it can be frightening to everyone, but it can also be the best thing you ever do. Change is the only way to move from your current state into something better! You never know where life will take you until you make the effort to change. Check out this insightful new book on the positive effects of change and how change could lead you to be the next success. Be the first of your company to break out and change!
The most successful companies and people out there are not the stubborn ones who stick to their set ways, it is the people and businesses that know how to adapt to change. Welcoming change is the best way to spin whatever comes at you in your favor, but if you resist change it will swallow you whole. This book by Richard Batenburg Jr., a man with over 25 years of experience and success in being an entrepreneur and business owner, is written with the wisdom of someone who has seen it all. Batenburg has years of experience consulting other CEO’s on how to reevaluate their company and run a more efficient operation.
If you fell that your professional life is getting stale, this book is a must read! The experience and advice within this book is just what you need to take a fresh look at your organization and begin to see how you can change your business and yourself for the better! Simply click on the link below, enter your email address and this Ebook will be sent to you FREE! No strings attached, you can really gain valuable insights on how to be the first to change your organization free of charge!
State Farm has a catchy little phrase that says, ” Like a good neighbor state farm is there”, but are insurance companies really good neighbors? Many may say no because insurance companies are based on making money off of the safe people they insure. The people who best practice safety are the ones who should be rewarded!
Now that insurance companies are using more technology to watch over their clients, they can better predict who their safest customers are and who may pose a risk of costing them money. This issue with this is that being “big brother” gives insurance companies the ability to raise people’s rates just because the insurance company sees that person as a liability.
What if insurance agencies used technology and more specifically, Big Data, for good? Imagine if insurance companies analyzed their data to determine which customers were more likely at risk of experiencing frozen pipes or a house fire and then alerted these individuals of their higher level of risk. Insurance agencies could easily use Big Data to help educate people on how to live more safely to prevent the many different disasters that no one thinks will ever happen to them.
To learn how else Big Data is making industries better, check out this awesome article!
A business’s intention is to sell their products or services to a customer. After the sale has been made, it is important for that business to focus on retention, which is the active pursuing of keeping customers engaged in the business instead of looking elsewhere. Customer retention is the key to a successful business, but can be very tricky to obtain.
How do you know why customers sought out your competitor instead of you?
Is there something hiding in the many different avenues of your company that may be turning customers away without you even knowing it?
Where would you go to find this information and ensure your company is operating at its best?
Listen to this short video that clearly explains how customer satisfaction can be corrupted and lead to a loss in retention. Even if your customer has the best intentions, this video will unveil the many different ways customer retention can be corrupted.
What do you think? Does this video remind you of a time you worked with a company that did not meet your standards of service? Maybe your own business is struggling with keeping customers for more than one service, do you think Cliintel would improve your customer satisfaction?
Let us know! Check out Cliintel for a consultation to take your business to the next level.
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