6 Ways Companies Are Using Data Analytics to Reduce Expenses
張岳庭
D0741017
Source: https://insidebigdata.com/2019/02/24/6-ways-companies-are-using-data-analytics-to-reduce-expenses/
This article explained six ways that companies reduce expenses by using big data. There are three ways I interested in.
First, companies use big data to cut fleet management expenses. According to the article, “One company that participated in a research study to pinpoint the effects of big data analytics on logistics operations found it was possible to reduce fuel consumption and CO2 emissions by relying on data analytics software.” Second, they use big data to shorten testing processes. Companies like Chime Bank want to inverse their users so they use the data analysts to support them, analytics platforms make tests less time-consuming, and thereby not as expensive. Last, avoid making customers upset is also an essential part of this article. Companies do not want to displease their customers, using data analytics can avoid bad influences. In the article it said that “Businesses must not overlook how unsolved grievances may cause customers to get frustrated, leading to a rise in preventable costs. According to a report from NewVoiceMedia, there’s a rise in “serial switchers,” or people who willingly go to other providers after getting displeased with the former ones due to bad experiences.”
I think it is very important that companies have data analytics to assist their business, according to the author Kayla Matthews, “Data Analysis Makes Expense Reduction More Straightforward. It’s not easy to assess where and how to cut expenses. But, these examples show how data analysis can help people make those judgments with confidence.”
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ReplyDeleteThis is very interesting article. Reducing expenses in a company is very important. Reducing expenses equals more profit. This article is very helpful for company who wants to reduce their expenses. I think this article is very educational and very important for companies around the world. Because of this article, now i know that big data can help us to reduce some expenses. This article show us how important to reduce expenses in a company and how good relationship with your customer can help a company to reduce their expenses. I agree that companies has to have big data to assist their business. Big data is the only things that can help them to reduce their expenses. Just add a little more information and i think this article will be perfect!
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis is an interesting article
ReplyDeleteIt turns out that using big data can reduce employee turnover
Interpersonal relations professionals are familiar with the large amount of expenses associated with employee onboarding. However, if employees are not suitable for the company and leave quickly after being hired, the total expenditure may be higher.
After reading the article, many companies use analytics before hiring candidates because it allows them to analyze information, such as the likelihood that someone is consistent with the company’s culture. Big data can also track trends. These trends may indicate that people currently working in the company are frustrated with the position and may find another opportunity.
Therefore, companies that use data analytics in this way can avoid the costs associated with training new employees who will not stay or cannot determine when employees are unwilling to leave.
Manage and minimize indirect costs
Big data collects customer information to avoid dissatisfaction with customers
Companies must not ignore how unresolved dissatisfaction can frustrate customers, leading to preventable cost increases. According to the NewVoiceMedia report, the number of "serial switches" has increased, or those who are dissatisfied with the former due to bad experiences and are willing to go to other providers.