Technology is fast changing how businesses operate, and data analysis, skills, and knowledge is going to have a significant impact on how you use technology to run your business and determine a company credit score.
Data analysis is a business intelligence function used to present numbers and figures to management. It involves a more detailed approach in recording, analysing, dissecting and presenting data findings in a visual way that is easy to interpret and make decisions for the business.
With data analysis a business can determine a company credit score, make decisions on customer trends and behaviour prediction, increasing business profitability and drive effective decision-making.
5 reasons to use data analytics for your business include:
Identify your target customers – Once you understand what products are suitable for what clients, you can determine the areas that you are going to focus on and for which customers
Reduce operational costs – with a good data analysis system, you can to determine the sectors of your business that are using unnecessary finances and the areas that need more financing
Create reports containing company financial accounts and information – this includes a company credit score, built with multiple financial and non-financial datasets that take into account a company’s financial strength
Improve targetted marketing – Using data analysis, you can determine what forms of advertising reach your customers effectively and make an impact that will make them buy your products
Spot trends in consumer behaviour – knowing the patterns and behaviours of your customers means you can gain a more competitive advantage over competitors
PXP Data Analytics
The Populous World XBRL platform (PXP) offers business intelligence solutions, and provides an easier understanding of data visualisation, accelerates a business’s growth and achieve longevity, by using advanced big data processing technologies effectively.