There’s an adage in business that it’s cheaper and easier to retain existing customers than to find new ones. It’s been estimated that it costs five times as much to acquire a new customer than to retain ones. This explains why businesses work so hard to keep customers happy.
You have likely heard the term “big data” frequently these days. From health care to marketing to law enforcement techniques, data analytics are driving decisions and improving outcomes.
At the OIG, data analytics — which include data mining, risk assessments, and predictive analytics —...Read More