The entrepreneur’s intuition is crucial and often the greatest intuitions are the result of a thought out of the box, capable to breaking rules.
However, for all the others aspirants Elon Musk, using statistics in the company could be an important help to introduce an analysis method capable of reducing errors.
Dedicate the right time and energy to analyze phenomena is a fundamental activity that few companies still fully exploit.
Having a real and reliable picture of company performance, market response, product quality, external perception of the company, the ability to intercept new trends, are just some of the benefits brought by the statistical analysis.
Resources are ever limited, why waste them in attempts when we can identify the target clearly?
A method of analysis based on statistics is crucial for making a correct picture of the company, in able to address policies and decisions.
In this sense, Customer Satisfaction and Market Analysis are two precious tools.
Let’s start with some basic tools:
Evaluate if and how customers are satisfied with the product that the company produces or the service it offers.
This is a crucial aspect to which the company must refer, because it allows to acquire or consolidate competitive advantages in the market.
Having an accurate picture of the degree of customer satisfaction implies having solid tools to face the competition; knowledge of consumer preferences determines the success or failure of marketing strategies.
Greater is the loyalty of the customer, lower is the competitive pressure, stronger is the position on the market of the company, more valued is the company assets of intangible resources (“trust capital”) available to consolidate its position and to plan new marketing strategies.
Analyze the characteristics of its customers or potential customers to adopt differentiated commercial strategies or evaluate entry of new products or services.
Starting from the assumption that there is a heterogeneity of consumers for each type of product or service, is important applying market segmentation techniques aimed at identifying the various market demands, to adapt suitable products and sales policies.