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Startups should leverage big data during festive seasons

Big data doesn't just benefit big business. According to head of analytics for FNB Business, Yudhvir Seetharam, more startups are leveraging the power of big data to predict consumer trends and increase profitability during busy holiday seasons.

9 Dec 2015

Startups should leverage big data during festive seasons

Ventureburn

"From a customer demand perspective, businesses often plan ahead by identifying the peak time for sales and the products that customers spend most of their money on," Seetharam says in a recent press release. For example, he points out, business owners usually analyse historical data to figure out peak and off-peak times for sales, and use the information to determine trading hours for the festive season. Seetharam further notes that startups are using big data to establish the amount of stock needed for busy periods and how much it should be sold for. In essence, businesses have to strike the correct balance between volume and value.

Continue reading the full article on Ventureburn.

Source: Ventureburn

Ventureburn is focused on telling the world’s startup news and tech entrepreneurs’ stories from the emerging market sector, covering everything from innovative new businesses and developments in ecommerce to helpful tips for starter entrepreneurs.

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