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Big data and data analytics both are the hottest topics in these days. The large amount of data in the financial services organizations is building the new opportunities for BI Consultant in Saudi Arabia and analytics. At the right time , this data creates the significant challenges. Every new day, financial services organizations follow to use these large amount of data to increase margins, decrease the risk rate, enhance customer satisfaction, and win in a globally competitive marketplace. The key thing to remember is that the value of analytics is not in the data. And you use this data to make better decisions or solve business challenges.
Use analytics to decrease your physical inventory
If you are providing the physical products to your customers, you definitely stock inventory. A financial point of views, inventory ties up cash and prevents you from using it for other organization initiatives. If you can decrease your inventory, you can free up cash and that represents dollars that make it to the bottom line of your financial statements.
Use analytics to get rid of dead product
If an organization grows, sometime its list of product offering grows too. Product production teams are very good to managing their time to produce next great things, but often is anyone dedicating sufficient time to analyzing the whole portfolio. Every product has a cyclic process and that cyclic process needs to be managed. Use of this BI Microstrategy Consulting services in Saudi Arabia tool helps you to easily get rid of dead products.
Use analytics to satisfy your customer service level
Most of companies concentrate on increasing the number of customers. However, each customer changes the value of over time. Some of your important customers may not be the most important today. This is where data analytics can step to help you make some tough decisions regarding customers and customer support.
Use analytics to improve quality and customer service
If you have an organization that provides products and services, the quality and customer service are what will distinguish your company (Qlikview Consultant in Saudi Arabia) from your competition. These products go hand in hand and can make or break your reputation speedily.