Using Data Analytics to Drive Organic Growth
For all the buzz around “organic growth,” it’s often very difficult for businesses to achieve. One strategy that can help? Leveraging data analytics to predict trends and bring about greater return on investment (ROI).
Organic growth is critical to a company’s survival. According to a McKinsey review of 15 years of share-price performance for 550 U.S. and European companies, “Those with more organic growth generated higher shareholder returns than those whose growth relied more heavily on acquisitions.”
If you’re finding it difficult to achieve this objective, rest assured that your company isn’t the only one struggling to grow organically. According to Gallup, real U.S. GDP per capita growth has been hovering around 1% since 2007.
In the age of Industry 4.0, with new advanced technologies and tools being developed seemingly every day, businesses face various digital transformation challenges, including:
How to Get Started With Advanced Data Analytics
Implementing the right tools and attracting the right talent for your advanced data analytics efforts can be hugely helpful in bringing about organic growth. Below are some tips for getting started.
Optimize Core Operations
Streamlining your organization’s internal processes is one way to support organic growth. Sales, pricing, and marketing capabilities are very data-driven (or should be by now), so they represent the top targets for optimization. Use data insights to drive better performance by:
Integrating legacy and digital systems
Analyzing increasing volumes of data
Deriving actionable insights from the Big Data available
Improve Supplier Relationships
Advanced data analytics can help your company identify patterns, problems, and opportunities for improved service levels, allowing for better order fulfillment and improved supplier management.
For instance, by analyzing supplier profiles in conjunction with customer complaints or refund requests, your business might identify a partnership that is not performing well, allowing you to move to a supplier with greater success rates.
Gallup research suggests that the “biggest, most universal opportunity lies in taking a data-driven approach to predicting and responding to future market trends.” Why? Because the greatest risk to your growth isn’t technological evolution or market competition — it’s not understanding your customers and losing them to other businesses.
With Gallup suggesting that only 3% of companies employ predictive analytics to keep abreast of industry patterns and dynamics, this is an obvious area where your business can stand out. Delving into the data can help business leaders predict and understand:
Identifying what is performing best, not what is easiest to achieve
Increasing productivity and streamlining processes
Improving staffing levels to better manage operational costs
Finding operating unit synergies to avoid investment overlap
“Advanced analytics plays a decisive role in driving growth,” according to McKinsey research. Yet the research also identified company shortcomings in recognizing analytical potential, investing in analytics, and supporting analytical capabilities.
The goal should be to identify quality data amid the great quantity of data points available. From there, clear goals can be outlined to develop accountability and determine the ROI of analytics investments.
The Value of Data Analytics
Through advanced data analytics, your business can improve customer relationships, outpace competitors, and adapt more effectively to ever-evolving, dynamic markets — all of which are crucial for driving improved organic growth.
Evolving customer preferences
Changing end-user behaviors
Shifting marketplace trends
Potential competitive threats
SMT Reflow Oven, Lead free Reflow Oven, Reflow Oven Manufacturer, LED reflow oven, PCB Reflow Oven, Nitrogen Reflow Oven, Dual Rail Reflow Oven, China Reflow Oven, wave soldering machine, Dual Rail Wave Soldering Machine, Nitrogen Wave Soldering Machine, Wave Soldering Machine Manufacturer.
|Flason Electronic Co.,ltd provide a full SMT assembly line solutions, including
SMT Reflow Oven,
Wave Soldering Machine,
Pick and Place Machine,
SMT Stencil Printer,
SMT AOI SPI Machine,
SMT Reflow Oven,
SMT Peripheral Equipment,
SMT Assembly line,
SMT Spare Parts
etc any kind SMT machines you may need, please contact us for more information:
wechat whatsapp:+8613691605420, Skype: flasonsmt, Email: email@example.com||FAQ|
1) This is the first time I use this kind of machine, is it easy to operate?
There is English manual or guide video that show you how to use machine.
If you still have any question, please contact us by e-mail / skype/ phone /trademanager online service.
2) If machine have any problem after I receive it, how can I do ?
Free parts send to you in machine warranty period.
If the part is less than 0.5KG, we pay the postage.
If it exceeds 0.5KG, you need to pay the postage.
3) MOQ ?
1 set machine, mixed order is also welcomed.
4) How can I buy this machine from you? ( Very easy and flexible !)
A. Consult us about this product on line or by e-mail.
B. Negotiate and confirm the final price , shipping , payment methods and other terms.
C. Send you the proforma invoice and confirm your order.
D. Make the payment according to the method put on proforma invoice.
E. We prepare for your order in terms of the proforma invoice after confirming your full payment.
And 100% quality check before shipping.
F.Send your order by air or by sea.
5)Why choose us ?
A. Gold supplier on Alibaba !
B. Trade assurance to US$54,000 !
C. Best price & Best shipping & Best service !