Over the last few decades, Information Services businesses have generated all their revenues from advertising. Prior to that, their key revenue contributions came from either subscription or newspaper retail outlets. Today, their business models have completely transformed, reinventing themselves. Digital disruption has resulted in continuously evolving customer preferences within an already cutthroat competitive industry.
To sustain in the constantly evolving environment, Information Services enterprises need to understand customer insights and buying patterns effectively. By doing so, they will be able to proactively offer services which are contextual as well as customized as per the individual customer’s requirement. Leveraging next-gen analytics, Information Services organizations can understand their customers’ buying patterns, information consumption trends and venues, and their overall life cycles.
Advanced analytics platforms can help Information Services businesses effectively cater to their customers’ requirements. Analytics has the potential to predict the next-best action and shall play a key role in digitally transforming the Information Services business models in the forthcoming years.