7 Analytics as a Service Firms To Watch Out For In 2024

Data and analytics as a service play a vital role in today’s world. Businesses require managed analytics services to achieve their goals efficiently. Here, we will discuss the role of data analytics in a business and the top analytics as a service (AaaS) firms to partner with in 2024. Businesses in today’s world need to utilize their data to derive insights and make efficient decisions. Small, medium, and large businesses from different industries can benefit from investing in managed data analytics. However, not all of them want to build the analytical models from scratch or make major changes to the systems on the premises. Analytics as a Service(AaaS) or managed data analytics is the best solution for such organizations. They can quickly access the analytical tools and reports through cloud platforms and derive real-time insights.  According to Statista, the analytics as a service (AaaS) market is estimated to be $69 billion by 2028. Another report says that the increasing adoption of AaaS solutions will take the market share to $85.1 billion by 2032 and cross $110 billion by 2034. AaaS is a kind of managed analytics service offered by third-party service providers. In this blog, we’ll read more about data analytics as a service and which firms offer these services to businesses from around the globe. What is Analytics as a Service? Analytics as a Service or managed analytics is a cloud solution where third-party providers offer data analytics services through cloud platforms. For example, suppose you want to analyze your business data. In that case, you can partner with an AaaS provider who will take care of the entire process from end to end and share the final reports (data visualizations) with your employees. This is done by personalizing the dashboards and connecting them to cloud analytics tools.  Here, you pay only for the resources you consume for your business. There is no need to make heavy investments to buy the software or develop new processes in your enterprise. Data analytics managed services can be quickly set up by the service providers based on your requirements.  What is Analytics in SaaS? Software as a Service (SaaS) has been helping many business enterprises unlock the full potential of their data to derive meaningful insights. Analytics in SaaS refers to analytics as a service. It includes several processes like data collection, data storage, data cleaning, data analytics, and data visualization. You can track various KPIs like inventory, production, customer behavior, sales, accounts, conversion rate, customer LTV (lifetime value), churn rate, etc. Analytics in SaaS can also be termed managed analytics. Simply put, you rely on a third party to provide the necessary insights and pay accordingly. 7 Top Analytics as a Service Firms To Partner In 2024 1. DataToBiz DataToBiz is an end-to-end digital transformation and AI company offering tailored data & analytics managed services to SMBs, MSMEs, and large enterprises from various industries. The company provides analytics as a service through a tried and tested customer-centric approach. It helps businesses understand the gaps in their processes and find robust methods to strengthen the weak areas.  Businesses could enhance customer satisfaction by 99% and make 3x timely decisions by partnering with DataToBiz to streamline their data and analytical models. The award-winning company offers a range of solutions like big data, data warehousing, data lake, data architecture, data engineering, data governance, AI and ML adoption, cloud computing, and long-term maintenance. The company is a certified partner of Microsoft Azure, Google Cloud, and AWS.  2. Infosys  Infosys is a leading consulting company offering analytics managed services to various clients from around the world. It is a digital transformation service provider that helps businesses accelerate growth, build a connected ecosystem, and become efficient.  The company brings flexibility and scalability to the organization by delivering data and insights in real time. It also offers self-servicing solutions and advanced analytics in industries like manufacturing, IT, healthcare, oil & gas, agriculture, retail, travel, and many more. Infosys customizes the solutions to suit the client’s requirements. It is an effective analytics as a service provider for large establishments.  3. Accenture  Accenture is a global consulting company with numerous clients from the Fortune 500 list. It offers customized managed analytics services to help businesses revamp their outdated systems and benefit from data-driven models. The company promotes the adoption of artificial intelligence to give enterprises an edge over competitors. It offers varied data services to enhance speed, scale, and innovation.  Accenture provides 360-degree value to businesses by helping them embrace change to adopt the latest technological solutions. The company’s data analytics services and cloud-based analytics as a service solutions are designed to support enterprises unlock the full data potential and make decisions using real-time insights.  4. Deloitte  Deloitte is a group of firms offering varied services to business organizations from around the globe. It specializes in tax consulting, IT services, and analytical solutions. The company’s strategy and analytics services are aimed at helping businesses leverage proprietary solutions for greater agility. It combines the power of AI and managed analytics to provide automated insights through customized dashboards.  Deloitte also offers DataOps services to facilitate seamless digital transformation. The company works towards making businesses sustainable by creating a long-term strategy and providing continuous support to implement it. The company has many clients from the Fortune 500 list and works with the world’s leading brands from various industries. Its analytics as a service model helps many businesses from different industries to unlock the potential of their data.  5. TCS Tata Consultancy Services is a global business process transformation company offering diverse services to small, medium, and large enterprises. The company boosts business performance with accelerated analytics managed services. It helps clients use analytical insights for product development, enhancing customer satisfaction, and achieving business goals.  TCS follows a four-fold approach for data management, automation, scalability, and cloud management. It creates a robust data ecosystem for businesses to tap into the unexplored potential and gain competitive advantage. The company sets up embedded analytics through analytics

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How Large Language Models Boosts AI Product Development?

LLMs are a subset of artificial intelligence and have versatile roles in today’s world. They help in developing next-gen products and enhancing user experience. Here, we’ll discuss the role of Large Language Models in accelerating AI product development.  LLMs, or large language models, are a part of artificial intelligence and act as the foundation models to build applications that can understand human languages and respond on the same note. LLMs are the core of GenerativeAI, which has become popular since the launch of ChatGPT. In fact, we can say that LLMs are a subset of GenerativeAI.  Statistics show that the global LLM market is expected to grow at a CAGR (compound annual growth rate) of 79.80% between 2023 and 2023 to touch $2598 million by 2030. Another report estimates that around 750 million apps will be using LLM by 2025.  Businesses can use LLMs for various purposes, including software development. In fact, AI Product Development Companies are increasingly using large language models to accelerate the process and release quality products into the market in a quick time.  Let’s find out more in this blog. Role of Large Language Models in Accelerating AI Product Development Now that you know the definition of large language models, let us understand their role in speeding up AI product development.  Ideation and Brainstorming  The application of LLM in AI product development starts right at the first step – ideation. The development team can use GenerativeAI apps when brainstorming ideas for the product and its features. It helps make a list of potential products you can release into the market based on historical and current trends, customer preferences, etc. Startups can hugely benefit from this as they may not have the same access to other resources as large enterprises.  Conceptualization Once the product development team finalizes the ideas, it moves on to the next stage. Large language models are helpful in this stage by providing inputs to include different product features, extensions, requirements, etc. Since LLMs process data and interpret insights, you can identify risks in the early phases and find ways to overcome the challenges. Using large language models for AI product development also helps in creating innovative and unique products.  Research and Analysis  Another reason to invest in large language model development is its support for research and analysis. You can analyze the market conditions and customer tastes in different regions at different periods. LLMs simplify market research by giving immediate results. Instead of conducting lengthy surveys, you can rely on the GenerativeAI models to access the reports. For example, streaming platforms analyze user behavior to add new features and pricing models.  Prototyping The prototyping phase is crucial in AI product development. Large language models can help by analyzing the input design (code) and predicting the possible flaws the final product will have. This allows the development team to make corrections, even before the product is built. It saves time and resources spent on making multiple prototypes. For example, Tesla uses artificial intelligence and LLMs in the design process to build technologically advanced cars.  Marketing Large language models also have a role in streamlining the marketing efforts to take the product to the right target audience through the right channels. Using LLMs for analyzing your marketing strategies and predicting user engagement patterns will increase your chances of success. The sales team can collaborate with the development team to create promotional campaigns that will reach a wider range of audience.  Customer Engagement  Similarly to the previous point, LLMs are useful for increasing customer engagement with the product and the business. They help in developing personalized marketing strategies for each group of target audiences and every potential lead. This will eventually lead to a higher customer retention rate and a loyal customer base.   Post-Launch Maintenance  There’s an increasing demand for LLM Consulting since the models provide end-to-end support for AI product development and maintenance. Once you release the product into the market, you should monitor its performance and make regular upgrades to get consistent results. Use customer feedback and engagement to take corrective steps and refine the product quickly. LLMs can be used to develop an agile post-launch maintenance strategy for different products.  Future of LLMs in AI Development LLM and GenAI model development are still in the early stages. There is a lot to explore in the future. As LLMs become more capable and efficient, they will have a greater role in AI development. We are likely to see large language models being used for the following:  The field of artificial intelligence is dynamic and constantly evolving. This makes LLMs a means for businesses to adapt to the changes and stay up-to-date in the competitive markets. Conclusion Large language models are a subset of artificial intelligence development services. They can enhance your business processes in many ways and increase productivity. Businesses from different industries can benefit from investing in LLMs for product development, customer service, etc.  Partner with AI development companies for tailored GenAI consulting to streamline your enterprise and adopt advanced technology to achieve your goals. Gain a competitive edge and stay ahead of other businesses in the industry with our support.  FAQs 1. What are LLMs in artificial intelligence? LLMs are foundation models trained on vast amounts of data so that they can provide the necessary support for a diverse range of applications and use cases. Instead of building domain-specific models, LLMs are multipurpose and easily adaptable to different requirements.  2. How is LLM used in product development? A large language model is used at various stages of product development, starting from ideation and conceptualization to analysis, prototyping, error detection, testing, fine-tuning, and upgrading. It helps streamline the entire process to save time and enhance user experience.  3. How do I create an LLM product? LLM product development starts with basic planning and strategy formation which is a part of AI strategy consulting. Make a clear list of the project requirements to choose the appropriate model. Then, define the user flow

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Why Should You Invest in Managed Data Analytics in 2024?

Data analytics managed services streamline and simplify business processes and help solve complex data challenges. We’ll discuss the importance of managed data analytics and reasons to invest in the data-driven decision-making model. We live in a complex world where businesses have to adapt to the changing conditions constantly. In such instances, you cannot afford to ignore the importance of data and business analytics. When huge amounts of data are generated daily, your business can benefit from the hidden patterns, trends, and insights it offers. This is done by investing in data analytics solutions. You can make proactive business decisions and stay ahead of your competitors by implementing the data-driven model.  As per a report by Fortune Business Insights, the global big data analytics market is likely to touch $348.21 billion in 2024 and reach $924.39 billion by 2032 at a CAGR (compound annual growth rate) of 13%. This indicates the growing demand for managed data analytics services. Whether you own a small, medium-sized, or large enterprise, data analytics is a worthy investment choice to expand your establishment and become successful. In this blog, let’s find out more about the importance of managed analytics in 2024. What is a Managed Data Analytics Service? Managed analytics services are end-to-end data analytics solutions, starting from strategy formation to deployment, transformation of data to insights, and reporting through data visualizations. Without building an in-house team, you can rely on a third-party provider to handle the necessary aspects. This is different from the traditional approach, where your employees take care of everything.  Instead of hiring more employees or sharing your internal resources, you hire a service provider to work on the project and share the reports with you in real-time. Managed analytical models are hosted on the cloud platforms. The dashboards are integrated with your systems so that your employees can access the insights and reports whenever necessary. It is a cost-effective and efficient way to adopt the data-driven model for decision-making.  Reasons to Invest in Managed Data Analytics in 2024 Managed analytics services accelerate the adoption of data-driven models and allow businesses to use intelligence reports for daily decision-making. Service providers offer the necessary expertise, technology, tools, support, training, guidance, and documentation to ensure you can reduce costs while increasing overall business productivity and performance.  Here are a few important reasons to opt for managed analytics in 2024:  Access to Expertise The biggest reason to opt for managed data analytics is to gain direct access to industry expertise. Instead of spending your resources on recruiting a team of professionals, you can work with experts from outside to get the same or better results. Additionally, service providers have diverse teams with data analysts, data engineers, AI and ML engineers, data scientists, etc. This can vastly benefit your business.  Efficient Data Management Managing internal and external data can be a challenge for many businesses. However, when you partner with managed service providers, you can easily overcome the problem. The company will streamline your data sources, set up the necessary connections, and build a central data repository on-premises or on the cloud. The managed service provider will directly deliver the insights to your dashboards. You don’t need to hire another partner for data management.  Greater Data Security and Governance No business can ignore data security and governance in today’s world. The last thing you want is to end up with a lawsuit for breaching data protection laws. With analytics managed services, you can ensure that the service provider will help you comply with the relevant laws and regulations in your region. They also implement multiple security measures to keep your data safe and minimize the risk of cyberattacks.  Make Informed Decisions  Business decisions backed by data and analytical insights are much more likely to give the desired results than relying on guesswork. While your employees’ experience is valuable, relevant analytical reports can support and support it to make important decisions. Additionally, managed analytics are delivered to customized dashboards and are easily accessible by employees from different departments. This simplifies the process and results in quality decision-making. Optimize Resource Allocation  Another advantage of partnering with a managed analytics provider is the chance to optimize the use of your business resources. When you have an in-house team, you should distribute your resources among all departments. This can increase the overheads and lead to budget constraints. However, with a managed service provider, you don’t have to dilute your resources. The third-party company will use its resources for the project.  Greater Focus on Core Business  When you outsource additional tasks to experts, your in-house teams can continue to focus on their jobs without distractions or excess workload. Your middle-level teams and C-level executives can work on the core business activities like strengthening the brand position and increasing revenue, while the service provider supplies the necessary and reliable insights for analysis and decision-making. Faster Time-to-Market  We live in fast-paced worlds where the early bird gets the worm. Businesses cannot spend too much time completing the production cycle. However, you cannot compromise quality. So, the best way to achieve your goals is to hire a managed analytics partner to deliver the insights that can be directly implemented in the business to streamline and automate workflows.  Reduce Risks  With data analytics managed services, you can mitigate risks at various levels and strengthen your business processes. The external experts will assist your employees in correctly implementing the models and effectively using the data visualization dashboards for day-to-day work. You can take advantage of the latest technologies and tools without making major investments or worrying about ROI. Additionally, businesses can scale the systems without building everything from scratch.  Enhanced Customer Experience  Businesses need to keep their end goal in sight at all times. Managed analytics supports R&D, production, marketing, and customer service teams to work together and enrich customer experience with the enterprise. This will increase your brand image, generate greater revenue, and allow your business to expand into newer markets with ease. You can build a loyal customer base and continue to stay one step ahead of your competitors.  What are the 4 Types of Analytics? Data and managed analytics are divided into four major types based on why and when it is used in businesses. Descriptive Analytics 

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Managed Data Analytics In USA- Top 10 Players In The Game

Managed data analytics involves analyzing large data sets to identify trends and get actionable insights. Finding the right managed data analytics company is a cumbersome process. Here’s help. We have shortlisted the best companies that offer good data analytics managed services to help you with your data processing and analyzing tasks.   “Data analytics is the future, and the future is NOW!” Every mouse click, keyboard button press, swipe, or tap is used to shape business decisions. Everything is about data these days. Data is information, and information is power.” ~ Radi, data analyst at CENTOGENE As this quote aptly demonstrates, data is present everywhere. Organizations that know how to use it are riding the tide. Fortune Business Insights has revealed that the global data analytics managed services market reached a valuation of $51.55 billion in 2022 and will reach $279.31 billion in 2030.  What is Managed Data Analytics? Managed analytics includes outsourcing data processing and analyzing tasks to a third-party service provider.  These business analytics companies handle all aspects of data management – integration, automation, warehousing, advanced analytics, and interactive reporting.  Here are a few benefits of managed analytics services:  10 Top Managed Analytics Companies in The Game Now here is a list of the best managed data analytics companies in the USA that can help you with data analytics services: DataToBiz DataToBiz is a leading company that offers reliable data analytics managed services. Partnering with DataToBiz gives you access to analytics experts who analyze your business data and offer insights to make informed decisions.  The company offers real-time insights through advanced managed data analytics companies or integrates them into your on-premises operational systems. Along with this, you can get to continuous monitoring and quick issue resolution to ensure business continuity. Average Rating Review: 4.8 Guavus Guavus is a managed analytics company that uses AI and machine learning to assist telecommunication businesses in increasing their operating efficiency. It offers an analytics solution named Guavus-IQ that enables telecom operators to identify usage patterns and enhance network operations.  With more than 15 years in the industry, the company has a team of telecom experts with experience in software engineering and data science. It mainly uses big data to streamline analytics by analyzing large amounts of data, minimizing costs, improving quality and customer experience.  Average Rating Review: 3.2 Blackburn Labs Blackburn Labs is a renowned managed data analytics and business intelligence company that helps you convert your raw data into powerful assets. It has a team of managed analytics experts who create ETL processes and custom APIs to ensure smooth data flow.   They use Supermetrics to connect data from multiple sources, follow HIPPA and GDPR, and implement Homomorphic Encrypted Data to ensure the privacy and security of customer data. Its technology stack includes Power BI, Amazon QuickSight, Tableau, Google Looker Studio, Python, R, AI and ML.  Average Rating Review: 5.0 Sigma Data Systems A popular provider of data analytics managed services, Sigma Data Systems offers analytics services for businesses of all sizes. It uses predictive analytics and data visualization to process and analyze raw data to facilitate data-backed insights. Some of the main tools and technologies include:  Average Rating Review: 4.8 Virtusa Virtusa offers consulting services for analytics related to managed services. It has a team of 100+ Hadoop consultants, data mining and predictive analytics experts. The services include:  The technology stack includes: Apache Hadoop ecosystem, IBM Big Insights, Talend Big Data Platform, Cloudera, Cassandra, NoSQL Platform-Apache HBase, Mongo DB, neo4j, Tableau, Qlik, Spotfire, R, Python Splunk, H2O, IBM Watson. Average Rating Review: 3.7 Affirma Affirma is a managed data analytics consultancy that helps businesses with strategic analytics techniques and data visualization. The company offers analytics services to overcome the problems such as data siloes and manual reporting analytics, ensuring data integrity.   Affirma’s data engineering team collects and consolidates data from sources such as ERPs and CRMs. AWS, Google Cloud Platform, Azure, and Snowflake are deployed for data warehousing needs. Average Rating Review: 4.7 Oxagile Oxagile helps you with all kinds of big data development services to move your data to the cloud and build scalable ETL/ELT data pipelines. The company provides data analysis and visualization services through custom reporting dashboards, advanced ML analytics, BI tools and systems. Oxagile’s team of experts implements different types of data management techniques to retrieve and store data. They implement a set of standards to configure data pipeline monitoring and use data lineage to predict data flow across different systems. Average Rating Review: 4.4 Addepto Addepto uses modern tools and technologies to deliver reliable data analytics managed services. The experts build statistical models with the help of data to validate and quantify specific business problems. Further, they create custom reports to create relevant and useful information.  Here’s an overview of the technology stack:  TensorFlow: Helps to build and train machine learning models.  PyTorch: Used to prototype and deploy machine learning models using Python.  R: Includes data visualization tools to create charts, graphs, and custom reports.  Average Rating Review: 4.7 Sparkfish Sparkfish is a managed data analytics company that helps you with a consolidated view of your organization’s data from different sources. The experts gather data from disparate sources such as CRMs, ERPs, advertising platforms, third-party sales data, and websites. They use comprehensive data management strategies to ensure accuracy and integrity of data making a single source of truth across the organization.  Some of the top services include breaking down data siloes, accessing and analyzing data in real-time, and reporting. Average Rating Review: 5.0 Teradata Teradata is a managed data analytics company that helps businesses become data-driven. The company has a flagship product ‘Teradata Database’ which is a scalable database to manage in-house data analytics, queries, and analytics workloads.  Teradata serves customers across different industries including retail, finance, healthcare, and manufacturing. Its team of trained professionals helps you throughout the data analytics operations with advanced analytics solutions to convert data into meaningful information that can be put to use.  Average Rating Review: 3.8 Empeek Empeek is a healthcare managed

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Importance of Manufacturing Analytics in Industry 4.0

Data analytics in manufacturing, called manufacturing analytics, is highly useful for enterprises to use their data in making proactive decisions, eliminating unwanted processes, identifying bottlenecks and overcoming them, increasing production quality, improving employee performance, and amplifying revenue.  According to the Business Research Company, the global manufacturing analytics market is likely to be $14.26 billion in 2024 and is expected to reach $32.39 billion by 2028 at a CAGR (compound annual growth rate) of 22.8%. Additionally, Emergen Research shows that the global Industry 4.0 market value will touch $279.75 billion by 2028 with a CAGR of 16.3%.  It’s clear that manufacturing analytics is a huge part of Industry 4.0 and will continue to play a vital role in helping enterprises adopt the data-driven model to make faster, better, and more effective decisions in real time.  Let’s find out how manufacturing analytics solutions can help an enterprise achieve its objectives by streamlining various aspects of the business.  What is Manufacturing Analytics? Manufacturing analytics is the use of data analytical and business intelligence tools to collect, store, clean, process, and analyze large amounts of data to derive actionable insights and share data visualization reports throughout the enterprise. Manufacturing analytics solutions can help implement smart manufacturing methodologies through the adoption of digital tools and technologies. Data is collected from internal and external sources and stored in a central repository like a data warehouse or a data lake. This data can be accessed by employees from different departments to make timely decisions. Data is also collected from factories and machinery using IoT (Internet of Things) devices.  The insights provided by manufacturing analytics are useful for improving operational efficiency, preventing machine breakdowns, making the factory safer for workers, automating production, and making the business model more agile and customer-centric. Manufacturing analytics companies offer end-to-end services to assist enterprises in strategizing, building, implementing, customizing, and maintaining digital data-driven models and technologies. Why is Industry 4.0 Important in Manufacturing? Industry 4.0 aka, the Fourth Industrial Revolution, deals with the digital transformation of the manufacturing industry and the adoption of advanced technologies like AI, ML, big data, etc., in MSMEs and large enterprises around the world. It aims to make manufacturing units agile, flexible, and scalable to handle the changing customer demands without increasing expenses. It is a continuous and long-term process where the entire business infrastructure, procedures, systems, tools, etc., are digitalized to create seamless connectivity across the enterprise.  Data Democratization  The manufacturing industry was no different from other sectors and followed the same traditional methods of storing data in individual silos in various departments and levels. This leads to data duplication and prevents the enterprise from fully utilizing the potential of its datasets. Industry 4.0 provides a comprehensive solution for data democratization by collecting it from different silos and building a central repository that can be accessed by anyone in the enterprise. It also allows decision-makers to take advantage of advanced manufacturing analytics and derive real-time insights.  Reduce Cost  Increasing expenditure is always a concern in the manufacturing sector, no matter what products they produce. Industry 4.0 promotes greater transparency across the supply chain to help manufacturers decrease downtime, increase throughput, improve the OEE score, and find suppliers who offer quality products at cost-effective prices.  Optimize Resources  Wouldn’t it be helpful when an enterprise can save its resources without compromising quality or productivity? Industry 4.0 helps to achieve this by highlighting areas with excess or unwanted resource consumption. Manufacturing analytics provides detailed reports and offers effective solutions to overcome the challenges. When a manufacturing unit can reduce resource consumption and improve overall performance, it can become sustainable in the long run.  Better Customer Experience Customers are the key to any business. Manufacturers need to consider customer requirements at every stage, be it procurement, production, or logistics. Providing a better experience to customers will increase retention and acquisition rates. The enterprise can use Industry 4.0 practices to understand what the target audience wants and adjust their processes and products accordingly.  What are the Industry 4.0 Manufacturing Processes? Several technologies are a part of the fourth industrial revolution apart from data analytics in the manufacturing industry.  Artificial Intelligence  AI has a diverse role in manufacturing. It facilitates automation, analytics, decision-making, transparency, and resilience for a sustainable future. AI and ML models are used to streamline production, supply chain, marketing, transportation, equipment maintenance, customer experience, and much more.  Industrial Internet of Things (IIoT) IoT devices are connected to the factory equipment or provided to workers as wearables to collect data in real time and share it with other applications in the network. IIoT devices are attached to robots, machinery, products, vehicles, etc., to help managers stay on track at all times by anticipating and avoiding delays.  Cloud Computing  Analytics in manufacturing or any other Industry 4.0 process is effective when it is used on the cloud platform. Enterprises digitally transform their systems to move the IT infrastructure to the cloud (private, public, or hybrid) so that decision-makers can access the data and insights at any time and from any location. It is the first step to adopting Industry 4.0 technologies in an enterprise. Big Data Analytics  Big data analytics uses data from multiple sources to discover hidden patterns, trends, and correlations. It provides measurable and actionable insights in real-time for manufacturers to stay one step ahead of competitors and make proactive decisions to grab market opportunities. AI and ML tools are used for advanced analytics such as predictive analytics, production analytics, sales analytics, etc.   Autonomous Robots  Autonomous robots are AI-based devices that can perform a set of tasks repeatedly with minimal human intervention. This frees up time and resources for employees to focus on the core aspects of the job. It also increases workplace safety as robots can be used to complete risky jobs on the factory floor.  Additive Manufacturing  Though addictive manufacturing started as a prototyping tool, it can now be used for mass customization, distributed manufacturing, 3D printing, etc., to reduce production costs, save time, and offer a wider range of products to customers.  Horizontal and Vertical Integration  While horizontal integration refers to the connections between different processes at the field level, vertical integration deals with bringing together the various layers of the enterprise. This allows the manufacturer to consider the establishment, as a single unit with interconnected processes. It also allows employees to easily access data from other departments to

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Business Analytics Solutions- Key to Enterprise Growth in 2024

Managed data analytics provides comprehensive, actionable, and real-time insights for data-driven decision-making. Here, we’ll discuss the need for business analytics solutions in SMBs and large enterprises and how analytics can help an organization become successful.  Business and managed data analytics solutions are now widely implemented by many business organizations and enterprises from different industries. These help companies effectively use their data to discover patterns, trends, and potential market opportunities and risks. Businesses can solve various problems by using these insights and making data-driven decisions.  Statistics show that the global business intelligence market is expected to touch $54.27 billion by 2030, while the BI platform market is likely to reach $45.2 billion by the same year. Almost 50% of organizations have increased the role of business analytics compared to the pre-pandemic rate. Moreover, 33% of large enterprises have employed analysts and partnered with managed analytics companies to integrate data-driven decision-making in their establishments.  There’s no denying that business analytics is the key for companies to grow in today’s market. Let’s read more about what it means, the tools used for business analytics, and how it can boost your business.  What is a Business Analytics Solution?   Business analytics is a set of statistical methodologies and computing technologies used for mining, processing, analyzing, and visualizing data to discover patterns, identify threats and opportunities, forecast future customer demands, and make intelligent decisions in real time.  Organizations use proprietary business data and datasets from public domains (or paid databases) to run analytics and derive meaningful insights. SMBs and large enterprises work with third-party offshore companies to access managed data analytics services for cost-effective pricing.  Business analytics solutions help streamline internal processes, adopt advanced technologies, reduce costs, optimize the use of resources, and gain a competitive edge in the markets.  What Are The 4 Types of Business Analytics? Generally, there are four types of business analytics methodologies often used to derive varied insights from data.  Descriptive analytics describes the information derived from historical datasets. It shows the company’s position for a given period.  Predictive analytics is focused on the future. It predicts the outcomes for a future period by analyzing data from the past to identify recurring trends and patterns.  Diagnostic analytics helps identify the root cause of a business problem by analyzing historical and real-time data. It provides answers to the what, why, how, etc.  Prescriptive analytics is helpful in decision-making as analyzes historical and current data to provide a basis for making future decisions to achieve the business goals.  Business Analytics Solutions Examples Managed Data analytics solutions have a diverse role in a business organization. From overcoming challenges to making strategic long-term decisions, expanding into new markets, increasing revenue, and enhancing customer satisfaction, analytical solutions can support your business on multiple levels. A few examples are listed below.  Customer Segmentation  Understanding your customers is the key to creating compelling marketing strategies, personalizing services, and developing better products. Business analytics can help in identifying and understanding customer behavior, purchase patterns, likes, dislikes, demographic trends, and so on. This allows the sales teams to segment customers into neat categories and create tailored campaigns for each.  Customer Experience Customer experience is vital for your business to thrive in competitive markets. Business analytics for small businesses provides the necessary insights to find different ways to improve customer experience by making changes to product features, services, etc. Analytics helps in getting a 360-degree view of customers and markets so that the decision-makers can stay one step ahead of others.  Better Products  Your products and services play a crucial role in determining your success. Regular upgrades and new features are necessary to keep customers happy. However, you need to know what your customers want before investing in product development. Business analytics helps by finding ways to improve your products and services to suit the changing market demands.  Price Optimization Managed analytics solutions are also helpful in developing a dynamic price model and optimizing the prices to attract more customers. Analyzing sales data will help identify the right price range to optimize profitability for your business. Since this has to be a continuous process, you can adjust the prices for the products and services based on market demand, competitor rates, short-term trends, etc.  Operational Efficiency Operational efficiency is another important aspect of a business. With the insights provided by business analytics, you can shorten production cycles, streamline supply chains, reduce costs, identify reliable suppliers, automate recurring tasks, and improve the efficiency of the product life cycle by eliminating unwanted steps.  Fraud Prevention  An organization faces risks from all directions. However, using business analytics solutions can help reduce the risk through preventive measures and tackle fraudulent transactions effectively. Sales data, customer data, financial and accounting data, etc., are analyzed to highlight weak areas and potential chances of fraud. Analytics is useful in uncovering what cannot otherwise be detected by the human mind.  Higher Sales Performance  The ultimate goal of a business is to generate more sales and increase profitability. This requires sales and customer analytics to align your products and services, marketing strategies, and sales campaigns with customer requirements. It helps take the right message to the right audiences at the right time and through the correct channel.  Benefits of Business Analytics Services Apart from the various business analytics examples discussed earlier, you can find other benefits of partnering with a managed analytics provider to strengthen your enterprise from the roots and make it future-proof.  Data-Driven Insights Businesses in today’s world cannot rely on guesswork alone to make critical decisions. Data analytics can analyze large amounts of historical and real-time data to provide valuable and actionable insights that help decision-makers at all levels. This promotes strategic business growth as every decision is based on data.  Competitive Edge  In competitive markets, you cannot ignore other businesses from the industry, no matter your position. Be it a small business or an established global brand, you will have competitors wanting to lure your customers and capture the market share. Business analytics tools and techniques help stay ahead of your competitors by identifying market gaps, assessing risks, and determining the right course of action.  Focus on Core Objectives  Drifting away from your core objectives can affect your success in the long term. This can happen when you

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11 Top Cloud Transformation Service Providers in the USA

Cloud technologies promote greater flexibility, scalability, and efficiency. Migrating the business processes to the cloud requires expert guidance. Here, we’ll discuss the top cloud transformation service providers in the US and how businesses navigate the ever-changing market.  There has been a growing demand for digital transformation cloud adoption in the last few years, with many SMBs, MSMEs, and large enterprises moving their business processes and data to various public and private cloud platforms. The businesses rely on top cloud transformation companies to create the strategy and implement the changes across the establishments. Cloud transformation enables businesses to host their IT infrastructure on secure cloud platforms and remotely backup data for easy access.  Statistics show that 96% of businesses use the public cloud, while 84% use the private cloud. Almost 80% of organizations use multiple public clouds, and 60% have admitted to using more than one private cloud. Moreover, global spending on cloud computing services is expected to be $679 billion this year and is estimated to reach $947.3 billion by 2026.  In this blog, we’ll read more about cloud migration and check out the cloud transformation companies list with leading service providers in the US. What is Cloud Transformation Service? Cloud transformation service is an end-to-end process of migrating data, applications, tools, frameworks, and software programs to a secure cloud platform. Instead of hosting the IT infrastructure on-premises, it will be built, scaled, customized, and upgraded on a remote cloud. This empowers the business to strengthen the security layers, easily access data from any location, encourage collaborations and remote working and quickly adopt new digital transformation technologies. It also facilitates faster development of AI and ML-based models to make data-driven decisions.  Which companies are moving to the cloud? Many well-known companies have invested heavily in digital cloud transformation to streamline processes and gain a competitive edge. For example, Apple, eBay, General Electric (GE), Netflix, Capital One, etc., have successfully adopted cloud solutions. What are the Three Biggest Cloud Provider Platforms? While there are many names on the cloud service providers list, the top three places have almost always belonged to the tech giants. Amazon (AWS), Microsoft (Azure), and Google (Cloud) are the three biggest cloud provider platforms with a total global 66% market share. According to the reports, Amazon Web Services had a 31% market share in the last quarter of 2023, Azure had 24%, and Google had 11%.  So, what are the top 5 cloud companies? Alibaba Cloud was in fourth place with a 4% market share, and Salesforce was fifth with a 3% market share for the same period (2023 Q4). Popular companies like Oracle and IBM Cloud are also on the list.  11 Top Cloud Transformation Service Providers in the USA DataToBiz DataToBiz is among the best cloud transformation companies in the US, offering end-to-end solutions to migrate business systems to a cloud platform. It focuses on making a business more agile, efficient, and productive. The company offers short-term and long-term solutions after evaluating the current business position and future objectives. It is a certified partner of Microsoft, AWS, and Google, which enables the company to execute cloud transformation on multiple levels – application, infrastructure, data, business processes, and culture. It provides continuous support throughout the cloud transformation roadmap and is a long-term business partner for many leading organizations from different industries. Reduce costs, optimize business processes, and enhance customer experience with DataToBiz.  PwC PwC is a global company offering an array of cloud and digital transformation services. It helps businesses accelerate growth by empowering them with cloud technologies. The company transforms the business at various levels by giving the same importance to IT, processes, and people. It has years of experience and industry know-how to develop a business-first approach to cloud migration. As one of the top companies using cloud computing, PwC powers digital innovation. From developing the strategy to executing it and delivering the results, the company takes care of everything. It also handles cloud compliance and security solutions to keep business data safe from unauthorized access.  Deloitte Deloitte is a popular cloud transformation service provider with clients from different parts of the world. It works with medium and large enterprises to create new possibilities for business growth and make the most of market opportunities. The company provides access to the latest technology and talent to facilitate faster cloud migration and digital integration into the business. It focuses on transforming the organization’s vision into a competitive advantage. Engineering, innovation, and strategy are the three key aspects of the company’s services. Deloitte helps identify the critical areas in businesses and transforms them to future-proof the organizations’ processes.  Kyndryl Kyndryl is the world’s largest IT infrastructure provider, with clients from around the globe. It provides secure cloud digital transformation solutions and outcome-based modernization based on business requirements. The company takes a 360-degree approach to identify and solve the various challenges an organization faces in competitive markets. It implements modern security measures to safeguard business data while ensuring compliance, governance, and visibility. Kyndryl processes are user-friendly and promote the use of self-service models. It also specializes in hybrid cloud management to help businesses optimize cloud environments to achieve their goals and create more freedom when making decisions.  Persistent Persistent is a digital engineering and enterprise modernization company offering in-depth insights to provide answers to businesses even before they have asked the questions and to anticipate what’s next. From imagining new business models to increasing agility and reducing costs, the company uses IT infrastructure modernization as a tool to achieve various goals for clients. Its cloud and digital transformation services include strategy and design, intelligent automation, data security, enterprise integration, and more. The company offers hybrid and multi-cloud transformation along with Persistent Intelligent IT Operations (PiOps) by helping organizations choose the best cloud partner from its vast ecosystem.  Zymr Zymr is a software development and cloud service provider that aims to build healthier and sustainable digital ecosystems for businesses from different industries. It has certified AWS developers to migrate the organizations’ systems to cloud platforms and set up the necessary integrations. The company believes in futuristic vision strategies to promote the cloud-first approach and empower clients to be more innovative, scalable, and secure. It helps accelerate digital transformation through an agile plan made after analyzing the current position of the clients. Zymr combines

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Managed Services vs Staff Augmentation – What’s Right for your Business?

Managed services vs Staff augmentation? Both hiring models have potential, but which one suits your company’s needs better?  In this blog, we’ve covered everything you need to know – differences, benefits, and considerations that will help you make smart decisions about your IT hiring needs. According to Grand View Research, the global IT services outsourcing market size reached a valuation of USD 639.59 billion in 2022 and is projected to grow at a CAGR of 8% from 2023 to 2030. Owing to this substantial demand for IT hiring needs, organizations are looking for ways to hire exceptional talent and reduce operational costs.  Hiring and sustaining experienced in-house teams is usually a long process, and consumes a lot of time, money, and effort. Plus, various bottlenecks impede the process. A better way is to outsource the current IT hiring needs to a third-party service provider. There are three models – staff augmentation, managed services, and project outsourcing. Each comes with its perks and drawbacks. In this blog, we will draw a comparison between managed services model vs staff augmentation to help you choose the best one for your organization.  Understanding Managed Services vs Staff Augmentation   What is staff augmentation? Staff augmentation is a hiring model that allows organizations to add professionals to their in-house teams for a specific project or address skill gaps.  This flexible hiring model helps them to get access to the best brains without promising any long-term commitment.  The IT staff augmentation companies offer services to help you hire experts who can handle large projects with relevant skills for a limited duration.  This approach is useful for businesses that have to have a global pool of talent and still have control over their projects. Types of IT Staff Augmentation Project-Based Staff Augmentation: Recruiting IT experts to work on a specific project for a definite time duration.  Skill-Based Staff Augmentation: Hiring IT professionals with specific skill sets, such as writing, design to address skill gaps.  Time-Based Staff Augmentation: Engaging IT staff to work for a set period. It could be long-term or short-term.  Hybrid Staff Augmentation: Combines multiple IT staff augmentation types to address skill needs.  Onshore Staff Augmentation: Hiring IT professionals within the organization’s country when frequent communication and collaboration are needed. Nearshore Staff Augmentation: Hiring IT experts from neighboring, usually with similar time zones and cultural backgrounds. Offshore Staff Augmentation: Employing IT professionals from various countries, with a considerable time difference. Dedicated Team Augmentation: Hiring a specialized development team with extensive experience and expertise that works dedicatedly for the organization. Advantages of IT Staff Augmentation What are Managed Services? Managed services enable organizations to outsource their business processes to third-party service providers for a longer period. Some of the main processes include backup recovery, cloud infrastructure maintenance, migration, security, and much more.  The managed services model is an appropriate choice if you are looking for support and maintenance for a longer period. While the MPS is controlling the outsourced functions, organizations can focus on their core business functions. How do managed analytics solutions work? Managed data analytics experts  perform the following steps to leverage data analytics:  Types of Managed Services Advantages of Managed Services Managed Services vs Staff Augmentation Determining which outsourcing model is right for your organization depends on your goals and objectives. Here’s a quick table that summarizes the differences between the two:    Aspect Managed Services Staff Augmentation Ideal for Long-term projects Short-term projects with low cost Control The MSP takes control over the entire IT operations. The staff augmentation company is responsible for offering specific resources for a decided time interval. Billing Billing is done on the basis of time spent on the project. Billing is done on a retainer basis. Risk Company or the client. Service Provider Engagement Model Fulltime. Service delivery is agreed upon according to Service levels. Full-time or part-time. No service levels. Cost According to service levels and outputs. According to availability and number of hours worked. Administration Service Provider Client Now let’s understand managed services vs staff augmentation in detail. Imagine your organization needs to expand your team. Which model will best align with your needs?  This depends on your business goals and focus area. Both staff augmentation and managed services have their virtues. Let’s explore them.   When to opt for staff augmentation? Staff augmentation is ideal for situations when you need immediate assistance or temporary support for an upcoming or ongoing project. It gives you entire control of the development process along with a strong sense of responsibility and accountability that managed services don’t offer when it comes to making crucial decisions. Ensure the resources you hire are experienced and hold extensive expertise.  Staff augmentation is the preferred option when: When to opt for Managed Services? If you are looking for highly experienced professionals who will take 100% responsibility for your all operations, hire a managed services provider. It is a viable option when:  Conclusion Managed services and staff augmentation enable organizations to scale their operations by availing expertise from trained professionals. Thus, it is essential to assess organizational needs, project duration, and level of control to decide between managed services vs staff augmentation. Since both models have their advantages and disadvantages, it is essential to consider them to select the best outsourcing approach.  Frequently Asked Questions What is the meaning of managed services?  Managed services refer to outsourcing IT-related tasks such as data backup and recovery, security, and help desk support to a third-party service provider. The service provider is responsible for ensuring the smooth operation of all the processes, allowing the organization to focus on core activities.  What are staff augmentation services?  Staff augmentation services involve hiring temporary resources to fill short-term or contractual positions in an organization. It helps the companies to partner with IT staff augmentation companies to procure the top talent to accomplish their projects.   What  is the difference between a managed team and staff augmentation? A managed team is all about hiring an external service provider to manage specific functions

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11 Top Ecommerce Development Companies in India

Indian ecommerce businesses can achieve their goals and expand into newer markets by investing in digital technologies. We’ll discuss the best ecommerce development companies in India and their role in assisting merchants and retailers in adopting the digital-first approach. Ecommerce is a flourishing business industry in today’s world. With the right kind of ecommerce analytics services, you can take your business to new heights by making proactive data-driven decisions.  As per Forbes, the Indian ecommerce market is expected to be INR 4,416.68 billion in 2024 and is estimated to touch INR 7,591.94 by 2029 with an annual growth rate of 11.45%. Moreover, Boomers and Millennials, Gen Z, and Gen X are active on the internet, doing their bit to drive the global online shopping rate. While the Millennials are likely to contribute around one-third of the total global social media shopping expenditure by 2025, Gen Z will contribute 29% and Gen Z 28%. The mobile ecommerce rate has also gone up to constitute 60% of the total ecommerce transactions.  Partnering with the best ecommerce development company in India can give the much-needed competitive edge and boost sales for your ecommerce business. Let’s find out more about the leading ecommerce development companies in the country.  What is an Ecommerce Development Company? An ecommerce development company is much more than a website builder. The company offers a diverse range of services, like strategy formation, technology adoption, third-party application development, customization, tracking ecommerce analytics trends, and long-term managed analytics solutions.  So, what is an ecommerce developer? In short, it is an end-to-end ecommerce analytics company that provides your business with the necessary support to effectively navigate the ever-changing digital markets within the country and around the globe. Indian ecommerce sites can streamline their products and services, improve operational efficiency, and amplify revenue(MRR) by hiring an ecommerce development company.  Top 11 Ecommerce Development Companies in India  DataToBiz DataToBiz is one of the top ecommerce development companies in India offering tailor-made and end-to-end managed analytics solutions in the industry. From strategizing to implementation and maintenance, the company provides an array of services based on your business requirements. Data warehousing for ecommerce data integration and management, business intelligence tools and dashboard implementation, real-time report sharing, etc., are some services offered by the company. DataToBiz is a certified partner of Microsoft, AWS, and Google Cloud. It has worked with many businesses in the digital commerce industry and has the expertise to develop data-driven decision-making models for varying specifications. The company specializes in working with diverse technologies to build a powerful and reliable analytics engine for establishments from various industries and sectors.  Mu Sigma  Mu Sigma is a data science and analytics solution provider that offers various business intelligence services. The company provides in-depth commerce sales analytics and builds intelligent customer experiences for retail and online sellers. It helps you with tailored solutions for effectively managing pricing, operations, promotions, order fulfillment, etc. The company’s AI-driven support enables ecommerce businesses to combine technology and traditional knowledge to become successful.  Fractal Analytics  Fractal Analytics is an AI analytical company with a presence in many industries. It is also one of the ecommerce development companies India with adaptive and scalable solutions like customer analytics, merchandise analytics, store operations analytics, supply chain analytics, and many more. The company combines data platforms, data governance, and business intelligence to promote better decision-making based on actionable insights. It has partnered with fifteen leading tech providers, like Microsoft, AWS, SAP, Oracle, etc., to provide comprehensive services to various clients.  Quantiphi Quantiphi is an award-winning AI analytics and digital engineering company that specializes in solving complex business problems through cloud and data engineering services. The company offers e-commerce analytics to help revolutionize the retail experience for businesses and customers. It helps completely re-design and transform the ecommerce business to unlock the power of data and analytics in growing your business. Customer behavior, omnichannel marketing, operational insights, churn prediction, etc., are some solutions provided by the company. It also emphasizes modernizing security and surveillance by building reliable AI and ML models for data engineering and governance.  Genpact Genpact is an ecommerce development company in India that offers innovative solutions for businesses to achieve their goals by adopting advanced technologies. The company uses generative AI and analytics to help retailers and online stores enhance customer experience, increase sales, and streamline the supply chain. It helps ecommerce businesses provide personalized experiences to the customers at every touchpoint and use data to understand their behavior, preferences, etc. The company works with small and medium ecommerce establishments and provides services for financial crime risk management, automation, etc.  Happiest Minds Technologies Happiest Minds Technologies is an IT company offering digital transformation services to clients from several industries. It helps retailers implement e-commerce category analytics, sales analytics, etc., to reduce operational costs, increase the conversion rate, and reduce cart abandonment to boost sales. From setting dynamic pricing to gain a competitive edge to personalizing user experience for customers, the company offers customized services to all businesses from the ecommerce industry. It also provides services like big data analytics, DevOps, omnichannel transformation, etc.  LatentView LatentView is a digital analytics and AI company offering end-to-end analytical services to help businesses gather meaningful insights from data and make more effective decisions in real time. It is an ecommerce development company India focusing on faster innovation, improving operations, and increasing business revenue. From forecasting sales demand to predicting customer needs, optimizing prices, and identifying seasonal trends for promotions, the company offers assistance to ecommerce businesses in many ways. It has developed a solution, AccuPromo to optimize retail promotions, inventory, and demand at any time.  Course5 Intelligence  Course5 is a transformative intelligence company offering pure-play data analytics to help businesses with digital transformation and AI adoption. The company’s services are designed to solve complex business problems by leveraging the latest technologies available in the market. It helps many ecommerce sites India to implement cloud, data engineering, and business intelligence technologies to overcome various challenges. The company builds reusable frameworks to provide long-term value to ecommerce and other businesses. Course5 Discovery is an augmented AI solution for ecommerce businesses to derive actionable insights about products, customers, market trends, etc.   Nihilent Analytics  Nihilent is a global data analytics consulting company with a presence in industries, such as retail, manufacturing, banking, etc. It is one of the ecommerce development companies helping traditional businesses transform their processes and take advantage of digital commerce to boost their revenue. The company

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Ecommerce Analytics in India – An Overview

Ecommerce is an active and budding industry in the Indian market. Thousands of Indians buy and sell products online every day. Here, we’ll discuss what ecommerce analytics is and how it can promote better results for online store owners in the country.  The ecommerce industry in India has been growing exponentially for the last few years. Many Indians prefer online shopping and home deliveries, be it groceries, electronics, furniture, or high-end items.  According to IBEF (India Brand Equity Foundation), the Indian ecommerce market is expected to reach 350 billion USD by 2030. We currently have 125 million online shoppers and another 80 million are estimated to add to the count by 2025. The Digital India program has nudged many businesses to expand their stores to electronic marketplaces.  With such growth in the ecommerce industry, it’s no surprise that business owners are investing in online analytical tools to derive useful insights from data and make better decisions to boost sales. SMBs and large online retailers are partnering with ecommerce analytics service providers to digitally transform their businesses and increase ROI.  In this blog, we’ll read more about e-commerce analytics and its role in the Indian markets.  What is Ecommerce Analytics? Ecommerce analytics is the process of collecting, analyzing, and interpreting data from online marketplaces, digital stores, electronic transactions, etc., to make data-driven decisions. The data is collected from various internal and external sources like website traffic, social media reactions, ad clicks, online sales, product/ brand searches, and much more.  There are many tools for Ecommerce analytics providing in-depth insights and graphical reports for retailers and store owners to easily understand customer behavior and market trends. From creating a robust marketing strategy to forecasting market demand, analytical insights can help an ecommerce business in many ways. While tools like Google Analytics are helpful, an ecommerce business needs tailor-made solutions to derive actionable insights in real-time. Partnering with reputed Ecommerce development companies in India helps business owners streamline their data (and data sources), create seamless workflows, automate recurring tasks, monitor daily activities, and enhance customer experience Types of Data Used in Ecommerce Analytics Data is crucial for analytics. In the ecommerce industry, four types of data are used by businesses to gain a deeper understanding of the target audience, markets, customers, and competitors.  Zero Party Data  Zero-party data refers to the data a business directly collects from the target audience. It could be in the form of surveys, quizzes, feedback, etc. The audience voluntarily shares this data with the business, which is then analyzed using an ecommerce tool.  First Party Data  First-party data belongs to the ecommerce business and is extracted from website traffic, in-store visits, interactions with customers (online and offline), etc. The customers are aware that their data (preferences, behavior patterns, interests, etc.) are collected by the business.  Second Party Data Second-party ecommerce data is collected and owned by other organizations which share the data with the businesses. This includes data from affiliates, business partners, etc., and provides a sneak peek into customer behavior, purchase habits, and market demand for different products.  Third-Party Data  Third-party data is collected by organizations that are not connected or affiliated with the ecommerce business. It includes market research firms, analytical service providers, data brokers, etc., who sell customer data to businesses.  KPIs for Ecommerce Analytics When implementing data analytics in ecommerce and retail, KPIs (key performance indicators) have to be selected carefully. These metrics help store owners know how their business is performing and find ways to improve the results. While an ecommerce business has many KPIs to track, the following is a must.   Discovery Rate The discovery rate is the percentage of users who discover or visit the ecommerce website for the first time. It shows whether the efforts to attract new customers are being successful. It also helps determine which channels are delivering the expected results and where the business can find more opportunities.  Acquisition Rate Acquisition rate is another important KPI for digital commerce analytics. It shows the number of visitors who completed the necessary actions on the website. It is derived by dividing the total number of people who became customers from the total audience. This puts the customers in the sales funnel.  Conversion Rate In some instances, the conversion rate is the same as the acquisition rate. However, conversions are considered subjective, while acquisitions have specific criteria. This changes from one marketing campaign to another and what the business wants.  Customer Retention Rate As the term suggests, the customer retention rate is the percentage of customers who remain with the business and initiate multiple purchases over time. ecommerce analytics helps find ways to improve the retention rate by creating customer loyalty programs, referral schemes, etc. A higher retention rate implies greater success.  Use Cases of Ecommerce Analytics Customer LTV  By using the analytical tools of ecommerce, businesses can process customer data to determine their value over their lifetime (interaction with the store). A high-value customer is someone who generates more sales and repeat purchases and adds value to the business. Retailers can create highly targeted campaigns, deals, and offers for such customers.  Customer Behavior  Customer behavior analytics deals with understanding how a customer interacts with the business – website visits, products they check often, factors that influence their decisions, CTAs (call to action) they respond to, and so on. It helps in product development, better marketing strategies, and showcasing the right product to the right customer.  Customer Segmentation Segmenting customers based on demographics, interests, age, gender, purchasing habits, etc., can be done through ecommerce analytics. It helps in developing personalized marketing campaigns for each segment and reaching out to them through their preferred choice of communication channels.  Sales Performance  By investing in the best sales analytics software, businesses can get comprehensive insights about the sales generated for the given period, estimate sales for the coming times, the difference between targets and achievements, and how to improve sales.  Fraud Detection  ecommerce analytics is also helpful to minimize the risk of fraudulent transactions by analyzing customer and sales data. The software will send alerts for potential risks, which help in devising strategies to safeguard the business and the interests of genuine customers.  Revenue Management  ecommerce businesses can rely on the best revenue analytics software to track their earnings and expenses. Store owners can get insights about where most money comes from and where it is being spent, the soft areas for improving MRR,

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