We are currently doing several big data-based assignments for very various clients and we’d like to share with you common mistakes that are often made by companies when considering analyzing their data. Mistake #1: where is my data? First of all what we see is that most companies have a HUGE problem finding their data. Either they don’t have collected data at all (which often is the case in retail environments and we know brands with a serious number of stores which, after having opened several sales points, realize they know nothing about their customers, the origin of their revenues, etc … they have no chance to monitor anything. Yet they don’t realize the opportunities they are missing and don’t take action. Mistake #2: what should I do with my data? Another very common problem regards the potential of the data collected. IT specialists are very good at collecting all sort of information. Yet they lack most of the time the knowledge of the business and have no idea what to do with it. You should therefore not expect from your ITers a meaningful proposal as to what to do with your figures and how to analyze them. They won’t … Continue reading How and why data analysis can help increase your profitability and fuel your growth