Everything we do on the internet is being recorded and aggregated by someone somewhere. Before the rise of Google and other analytics companies, it was anybody’s guess what this information might be used for. But targeted advertising is only the beginning. In the future, businesses will depend increasingly on telematics in making strategic decisions once based on intuition or abstract theory. Those who do not keep up will be left in the dust.
The future of business will be in the strategic implementation of analytics to improve decision-making, manage risk, and assess new business opportunities. Learning about and investing in analytics behooves any smart business owner who hopes to survive the coming changes.