IDG Contributor Network: Data analytics is the new black
It isn't often that a B2B technology company adopts the same business model as a buzz-worthy fashion e-commerce site, but with the necessity of data analytics now being recognized by companies across all industries, that may be changing. Take Revolve, for example. The online retail giant was just featured in a recent Fortune article, which focused on one of the key differentiators between the company and their competitors: knowing what the trends are.
How do they do this? In part by hiring trendy interns with an eye for fashion, but also by analyzing data in a creative way, in this case online search terms among their target demographic. It was through this method of data analysis that company co-founders launched the brand by offering sought-after designer denim, something that consumers were searching for in droves, but not finding, online.
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