Identification of consumption patterns:
Through big data analysis, companies can identify consumption patterns and understand how consumers interact with their products or services. By analyzing large data sets, it is possible to discover correlations and relationships between different variables, such as purchase times, complementary products, and preferences according to geographical location. This valuable information helps companies define an efficient assortment, improve their market segmentation, and adjust their marketing strategies such as promotional effectiveness, innovation introduction, revenue growth management or category management.
Big data analytics allows companies to anticipate future demand for their products or services. By examining historical data and considering external factors such as market trends and seasonal events, companies can more accurately forecast demand and adjust their production, inventory, and distribution strategies accordingly. This reduces operating costs and improves customer satisfaction by ensuring product availability at critical times.