why is data drive?n analytics of interest to companies

Answers 2

Answer:

It allows companies to make definitive predictions about the future.

Explanation:

Data driven analytics is of interest to companies because it gets, new leads, reduce costs and making informed decisions.

To help you focus your marketing efforts, data-driven analytics can reveal trends and behaviours of your target audience.
A business analytics system can assist you in identifying trends and visualising data throughout your whole organisation when your data is correctly collected and preserved.
You may monitor key performance indicators (KPIs) including sales, customer retention, and customer satisfaction using data analytics technologies. You can concentrate your efforts on elements that contribute to the success of your firm by keeping these numbers in mind.
The fact that data-driven analytics equips decision-makers with sufficient knowledge to make informed decisions is one of the main reasons why businesses are interested in them.
Netflix is a prime example of this, leveraging big data to cut annual user retention costs by $1 billion. The streaming service does this by analysing data and forecasting audience behaviour using algorithms. They were able to customise home pages and provide better recommendations so that each viewer would have a tailored experience.

Hence, data driven analytics is of interest to companies.

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