Proprietary analytics help you better understand your customers. Let’s say you have a retail business and you want to better understand your customers. Your POS data will tell you things like the average spend per customer, how many items customers buy, which items are selling well, which items are not selling, etc. This information can help you adjust your staff training and customer service approach. You can see what items customers are having a hard time finding in your store, their preferred payment method, and more. All this will help you better serve your customers and increase your sales.
Types of advance analytics
Cohort Analysis – A cohort analysis is a method Taiwan Number Data of analyzing on specific criteria, such as the time they first logged on. This makes it easier to observe and analyze user behavior. Sentiment Analysis – Sentiment analysis is use to determine people’s feelings and attitudes toward a certain product, brand, or event. You can use sentiment analysis to get customer feedback about your product or service and how you can improve it. Natural language processing and text mining – Natural language processing and text mining are two subfields of textual data analysis.
Deals with the level of language in the data
While text mining deals with extracting knowledge from unstructured data. Text mining is use in many different fields and is also calle text analysis or text-based analysis. Predictive Analysis – Predictive analysis is a set CG Leads of methods used to explore the probability of future results. Businesses use predictive analytics for everything from predicting demand for their product to predicting future problems in the supply chain. A word on machine learning and AI Machine learning is a subfield of AI that uses data to train algorithms to make predictions and solve problems.