It's no secret that data-driven companies are succeeding. Google, Amazon, and Uber are prime examples of businesses that have used data analytics to improve their performance and better serve their customers. In this blog post, we will take a look at how these three companies use business data and analytics to drive success. We'll explore the different ways they use data to make decisions about everything from product strategy to customer engagement. So, if you're looking for some insights into how to make your business more data-driven, then you've come to the right place!
“Data is the new oil.” — Clive Humby.
Google is always looking for ways to make its employees more successful. They have an initiative called Project Oxygen, in which they analyzed data from 10k performance reviews and compared it with employee retention rates- this allowed them to identify behaviors common among high achieving managers who are also good at keeping people around! As part of these efforts towards bettering the company overall through knowledge accumulation (a key strategy), Google created training programs designed specifically toward developing those competencies identified through analysis—boosting median favorability scores by 11%.
They also discovered key opportunities, such as extending maternity leave, which cut their new mother attrition rates in half.
Amazon
The power of big data analytics has given Amazon the insight they need to create a more effective sales strategy. By analyzing customer buying habits and supplier interactions, these Data-driven logistics allow them to understand how customers behave when shopping for groceries as well as what products are popular among consumers generally speaking - all giving insights into further changes that can be made in order improve your business's performance or provide better service next time around!
UBER
UBER can analyze historical data and key metrics, such as the number of ride requests and trips getting fulfilled in different parts of the city. With this information, they are then able to have an insight into areas that will likely see high demand for rides over future periods so drivers can be sent there accordingly rather than just circling aimlessly waiting on people who may not even want one at that moment!
The Takeaway
These are just a few examples of how data analytics can be used to improve business performance. As you can see, each company used data in different ways to achieve success. There is no one-size-fits-all approach to becoming a data-driven company. The important thing is to figure out:
- What type of data will be most helpful for your business?
- How best to collect and clean that data?
- How to arrange the data to easily understand it?
- What insights can be gleaned from this data and how to apply the insights to your business?
Do you have any examples of data-driven companies that you admire? Let us know in the comments below! And be sure to stay tuned for our next blog post, where we'll be taking a closer look at how you can integrate data into your daily business decisions.
Citations:
- "How Google Uses Big Data Analytics To Create A Better Workplace." Forbes. Forbes Magazine, 01 Mar. 2016. Web. 17 Apr. 2017.
- "The Many Ways Amazon Uses Big Data Analytics [CASE STUDY]." Forbes. Forbes Magazine, 20 Dec. 2016. Web. 17 Apr. 2017.
- "How to Use Big Data Analytics in Your Small Business." businessintelligencemarket Share How to Use Big Data Analytics in Your Small Business Comments. N.p., 15 Mar. 2016. Web. 17 Apr. 2017.
Christian Pillat
Franchisee, multi-time founder with deep experience & companies in Marketing, E-Commerce, and Franchise verticals.
