In today’s world, data plays a key role in the success of any business. Data produced by your target audience, your competitors, information from the field you work and data your company gains on its own may help you find more customers, analyze your business decisions, reoptimize the business model or escalate to other markets. Data will help you define problems your business can solve and provide better service, specifying precisely your clients' needs.
According to The McKinsey Global Institute research, data-driven companies are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable.