Yes, those pixels, numbers and data strings might be a genuine and impactful form of art. Since we are deep into data science in order to empower SMEs and boosting their profitability with data analytics and sales forecasting tools, we want to share some interesting perspectives on data art.
Suggestions & recommendations are products of data analytics and forecasting. This is how they made it
Every online store is eager to offer you something more based on the interest you show to one or another product. Typically we are giving a brief looking at the recommendation and often we find it useful and sometimes we even take advantage of it.
How they made it?
Running retail business of any kind might be extremely tricky process full of unknown variables. Full scale analytics service provider is able to offer you a lot. But in depth analytics projects demand lot of recourses, hence money. Big retail businesses already benefit from analytics services because of their large scaling and that’s how they improve their profitability even more. This is raising following question:
Are small retailers able to benefit from data analytics?
Beyond the basics, modern sports has nothing in common with what it was, let’s say 50 years ago. One of the many, many reasons for this is the data analytics and forecasting.
We are living in a world full of data and everyone can benefit of it with proper analytics modelling. Speaking of sports it helps decision making in player selection, customer/fan relationships, business management, game and players performance and even injury prevention.
The coffee shop industry is making billions dollars a year. Even though opening your own coffee shop looks like a piece of pie and definitely profitable enterprise, it is not exactly like this.
The value of a cup of coffee is around $0.50 and the retail price is between $2 and 3, depending on the market. It sounds like profitable margin. But you have to keep in mind that operational costs for a coffee shop are quite high. On top of this you have to add the fierce competition by well-established chain of coffee shops with strong marketing and huge advertising budgets.
A4Everyone stands for analytics is for everyone. It is what we believe in our team and our mission is to bring the benefits of data science to small and medium sized businesses.
Everyone might get leverage from accurate sales predictions. Because it is giving the ability to know what, when and how many to fill your storehouse with. And it is not only this. Business optimization of any kind become possible if it`s based on knowledge extracted from historical data of this very business.