The Ledger

Profitability Depends on Customer Experience

Many companies are starting to realize the affect that a great customer experience can have on their profitability. The more customers a company can draw in and gain their loyalty, the more profitable they will become. So, what is the secret to achieving this? Understanding the changing customer experience, understanding the core of your customer experience model, and being open to new ideas.

“As you seek enterprise growth, focus on the customer experience as the key driver.”

Read More at Forbes >

Predictive Analytics Myths Can Ruin Your Organization’s Growth

Just like the myths about The Great Wall of China, goldfish and peanuts, many people have popular opinions about predictive analytics that just aren’t true. There are three major misconceptions many professionals have about advanced analytics: it is expensive, takes a long time to deploy, and too complex. Believing these myths can hold back your company’s growth because advanced analytics are increasingly vital for the finance function to operate accurately and strategically.

Read More at The Digitalist by SAP >

Get The Most Out Of Your Revenue Forecasting

Setting your budget is crucial to keep your business on track. This is a common phrase in the finance world, but it’s a lot easier said than done. How do you make decisions about your budget in the future if you don’t know how much revenue you will be bringing in? To prepare an accurate budget, you first need to develop a revenue forecast for your business. A forecast is an educated prediction based on past and current data for the upcoming year about how much money your company will likely bring in. With this information, you can estimate what you can afford to spend and what your profit margin will be. So how you can get the most out of your revenue forecasting?

Read More at Fundera Ledger >

Artificial Intelligence Is Making Real Strides In The Way We Do Business

Artificial Intelligence (AI) is already being used by thousands of companies around the world and is changing key business processes. Machine learning has been the most important general-purpose technology of this era. Machine learning’s ability to think for itself in a sense and learn how to perform tasks without any human interaction allows companies to get stronger insights into their business. Organizations that can rapidly sense and respond to opportunities will seize the advantage in the AI-enabled landscape. So the successful strategy is to be willing to experiment and learn quickly.

Read More at The Harvard Business Review >