According to a new study by Snowflake Computing and Harvard Business Review, companies that make data-driven decisions have the best chance for longevity.
Yet across industries, they found that only 5% of retail and CPG enterprises qualify as data-driven, half of the survey average (10%).
This stands in opposition to stated goals. The retail industry had the highest number (89%) that placed great importance on getting better insights into customer needs and expectations. Faster decision-making was also a priority (79%) as well as improving process and cost efficiency (68%).
What is holding retailers back? The biggest challenge cited was human in nature;
CEO Analytics can help you overcome all three obstacles:
CEO Analytics will unearth what your customers really love… and are eager to spend their money in. We will increase your retention, generate incremental sales and increase your revenues from 3% to 7%. Email us at info@ceo-bi-analytics or go to our site: www.ceo-bi-analytics.com
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CEO Analytics combines the advanced analytics of Disassociated Conjoint Analysis and proprietary algorithms to discover the "why" behind your customer's decision.