The new millennium has brought remarkable advancements in technology, allowing enterprises to adopt innovative business models and providing them with sophisticated tools to improve daily operations and financial results. On the other hand, the massive accumulation of data has turned into a challenge as corporations struggle to derive benefits from the information they collect. “Inspired by the success of early adopters, more and more companies are embracing analytics to target the right buyers, expand their customer base, and build brand loyalty, all of which lead to an increase in sales and profitability. Through the application of advanced analytical tools, enterprises can explore the drivers behind the numbers on their financial statements, finding answers as to who buys their products, what attracts new customers, why existing ones defect to a competitor, and where rival organizations may have an edge. The insights gained through analytics enable corporations to improve their decision-making process and prioritize capital allocation to initiatives that will maximize sales results,” says Trevor Silver, founder and CEO of leading analytics, data engineering, and cloud computing solutions provider Exusia.
A study conducted by McKinsey established that 53% of sales organizations defined as “fast growers” attributed their success to the effective use of analytics, due to which they achieve “remarkable results in lead generation, people management, cross-selling, and pricing.” As the report noted, “Well-designed analytics programs deliver significant top-line and margin growth by guiding sales teams to better decisions.” The management consultancy group concluded that “it is the adoption of advanced analytics that has begun to differentiate the winners from the rest,” but it also stressed the importance of focusing on areas where analytics can generate the most value and aiming for wise implementation. The difficulties facing enterprises in the age of Big Data were highlighted by Trevor Silver in an interview for CIO Bulletin, where he said, “Today, the challenge is to take the data companies acquire from its raw form and convert it to actionable information, insights, and services. This can support and empower a company’s core initiatives and goals which can help make rapid, informed decisions.”
Business strategies that incorporate data-derived intelligence result in improved communication with customers and greater engagement, as well as more effective marketing campaigns due to segmentation on the basis of age, gender, location, shopping habits, and product preferences. The analyses of such data also allow corporations to remain competitive by utilizing the insights to accelerate product or service development, customization, and innovation, Trevor Silver comments. In a business landscape characterized by constant disruption and global competition, analytics can drive revenues by enabling companies to understand and predict customer behaviors, identify reasons for defection, determine what product or service changes are required, and retain buyers through precisely targeted marketing campaigns, he concludes.
Trevor Silver has come to be regarded as a leading figure in the analytics and data engineering industry, as well as an insightful investor and entrepreneur. Over the course of 20 years, he has amassed outstanding credentials in the fields of enterprise data strategy, architecture, delivery execution, and managed services, offering agile technology solutions and operational guidance to companies across the healthcare, financial services, telecommunications, hospitality, entertainment, energy, and consumer products industries. As founder and CEO of Exusia, Trevor Silver has built the New York City-based enterprise into a leading provider of analytics, data engineering, and cloud computing solutions to organizations around the world. Since its inception in 2012, the company has expanded its employee base to more than 500, while its exceptional growth rate and client success score have been recognized by numerous publications.