Importance of Proper data analysis and usage

Data is like an untapped stream of gold. If used properly, it can help any business to start climbing of the stairs of success real fast. History has plenty of examples like Hershey’s, Caterpillar, Vermont Electric Power Company and many more. These companies began to store, segregate and analyse their data. The data includes their operational activities, sales, purchases, monitoring employees, data about competitors and many more. Proper usage of this data can bring a digital transformation in the organisation. Data analysis often results in cut in operational cost. But its benefits doesn’t just limit till the cost cut. Data analysis can also show a path for revenue generation.