As we know, most of todays businesses has been hit by the recession (with the exception of pharma, Food industry and a few others). Given the state of affairs, is there even a need to invest on something as (abstract?) as Analytics? The point is yes - it makes more sense to invest on Analytics today rather than in any other time in the past or future. This is because our marketing spends have tightened, we do not want to over-contact customers and end up hurting them, we do not want to contact those customers that would never react to our offers, we do not want to send out fancy, expensive brochures to all and sundry.
The old adage "A penny saved is a penny earned" holds good today more than ever before and Analytics helps us do just that - we can build recession-based models that tell you what kind of books are to be displayed on your shelves to what food can you serve on your airline.
Careful investment on Analytics can prove beneficial to your business (and no matter which business you drive, there is always room for Analytics) and can help take informed decisions on which customers to contact, what to offer them and improve your share-of-wallet overall.
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