We live in a digital world and we contribute approximately 2.5 quintillion bytes of data almost every day, and 90% of the digital insight of the whole world is created in the last 2 to 3 years alone. If you know how to use digital data, then it helps you to increase profitability, business growth, and business efficiency. If you …
What is PEO? Professional employer organization (PEO) is an outsourcing company that offers services like HR, payroll, risk mitigation, training, learning and development, employee’s compensation and insurance, workforce management technology, taxation and filing, compliance assistance, health and benefits, retirement vehicle, employers practice, and liability claim. In simple words, it offers its services to small businesses, where the small business and …
Whether it’s a big business project or small, when it comes to making a decision, or you have to choose one option out of many. Then it’s not always easy. However, data analysis is a great process of analyzing piles of data and extracting the most relevant information from it. So that it would make a good choice. Today we’ll …
First of all, we have to define data; data is a raw form of unprocessed information. Data analysis, on the other hand, is the process of finding and developing patterns and relationships among different variables. So that it could make sense and help us in the decision making. The question arises in our mind that how to perform data analysis, …
What is Business to Business? Business to business or B2B is a business model when a company sells its products and services to another company’s customer for further processing and then reselling it. In simple words, one business sells its product/service to another business. The reason B2B is different from business to customer (B2C), where a business sells its product/service …
What is Dropshipping? Dropshipping is the process where the seller doesn’t keep or own the stock and inventory like a retailer; instead, the store buys the product/service from the third-party, wholesaler, manufacturer and get it delivered directly to the customer. How Dropshipping Business Works The difference between ordinary retailing and Dropshipping is that the store or the seller does not …
Why customers prefer one brand over another? How do you know about the companies’ promos and deals? How a company makes an apology and issues a recall for unsafe or defective products? It is all about a company’s effective communication strategy that customers know about products and services. It shows the importance of communication. That is why companies invest in …
What is Business Decision Making Process? Whether it’s a sole proprietorship, partnership, SME or large corporation; the success of every business depends on the quality of decision its management is making. However, when we talk about decision, it’s a step by step process which allows business people to take calculated risks by weighing different alternative and contrasting among various opportunities. …
What is Business Analysis? A business comprises of goals and drivers. The drivers understand and guide the business to reach its goals. This process of understanding a business, its needs, problems, solutions, etc. is known as business analysis. Business analysis is performed by the stakeholders or drivers of the business so that they can ensure all business problems are taken …
As mentioned above, competitive strategy is a long-term action plan of firms so as to gain a competitive advantage over its rivals in the industry. This strategy is focused to achieve above average position and generate a superior Return on Investment (ROI).
