Data Analysis: Improve Earnings and Profits With Effective Data Analysis

Effective analysis of your customer data can improve earnings, profits and satisfaction, but the process must be unique to your organization. Measuring for success begins with the knowledge that quality data analysis provides a map from the past to the future. Consider the following tips:

¥ Identify your best customers by profitability and contribution. Some customers are excellent revenue generators while others are beneficial for inventory liquidation. Both are valuable to your organization as long as the marketing costs do not exceed the benefits.