Читать книгу Blockchain Data Analytics For Dummies - Michael G. Solomon - Страница 11

IN THIS CHAPTER

Discovering the value of data

Complying with regulations

Protecting customer privacy

Predicting expected actions with data

Changing plans to control outcome

In the twenty-first century, personalization is king — and data makes personalization possible. A good friend can pick out a much more personal gift for you than a stranger because that friend knows what you like and dislike. Marketers have known for decades that establishing a connection with someone can dramatically increase the chances that the person will become a customer. Organizations’ desire to attract customers and increase sales drives the pursuit of meeting consumers’ needs.

Consumers demand personal attention and have come to expect a high level of individualized customer service, online or when physically shopping in a bricks-and-mortar store. Due to advances in consumer interaction sophistication, the bar is high for all types of organizations. For example, it isn’t good enough for web searches to return a general list of responses. Consumers expect their searches to be personalized and filtered based on their preferences. Today’s search engines, and most shopping sites, suggest responses before you even finish typing. It’s almost as if the search function knows you and what you’re about to ask.

The capability to guess what a user is likely to ask or find interesting is based on data. Humans are creatures of habit and most processes (and even natural events) tend to be cyclic. The repetitive nature of behavior means that if you have enough historical data, you should be able to predict what comes next. Expending effort to collect, maintain, and analyze data related to your organization’s operation can help to reduce costs, limit exposure to fines and lawsuits, and lead to increased revenue.

In short, learning how to use your data helps you learn how to make your organization more profitable. In this chapter, you learn about ways that data can provide value to organizations.