Blockchain Data Analytics For Dummies

Chapter 1

Driving Business with Data and Analytics

IN THIS CHAPTER

Discovering the value of data

Complying with regulations

Protecting customer privacy

Predicting expected actions with data

Changing plans to control outcome

In the twenty-first century, personalization is king — and data makes personalization possible. A good friend can pick out a much more personal gift for you than a stranger because that friend knows what you like and dislike. Marketers have known for decades that establishing a connection with someone can dramatically increase the chances that the person will become a customer. Organizations’ desire to attract customers and increase sales drives the pursuit of meeting consumers’ needs.

Consumers demand personal attention and have come to expect a high level of individualized customer service, online or when physically shopping in a bricks-and-mortar store. Due to advances in consumer interaction sophistication, the bar is high for all types of organizations. For ...