A Step-by-Step Guide to Smart Business Experiments
According to one estimate, businesses collected more customer information in 2010 than in all prior years combined. This avalanche of data presents companies with big opportunities to increase profits — if they can find a way to use it effectively.
The reality is that most firms can’t. Analytics, which focuses on dissecting past data, is a complicated task. Few firms have the technical skills to implement a full-scale analytics program. Even those that do often find the results difficult to interpret, or difficult to use to improve the bottom line.