12/10/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Software-as-a-Service (SaaS) is a cloud computing model in which software is delivered over the Internet. The customer has no control over the infrastructure running the software and does not need to install software on their device to access the services. The customer pays a monthly subscription to access the software. The software is typically hosted on a central server platform, so it can be accessed over the Internet from any location. SaaS has proven to be a cost-effective and flexible way for companies to access software without having to make large investments in their own IT infrastructure.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Business process automation is a technology that enables companies to simplify and accelerate processes and workflows by automating them in a digital way. Automated business processes can reduce response times to customer requests, shorten process turnaround times, and increase process efficiency and accuracy.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
IT consulting is a service that helps companies plan, implement and manage information technology. It involves analyzing the existing IT infrastructure, developing solutions to improve performance and efficiency, and implementing technologies needed to achieve the company's strategic goals. IT consultants help companies effectively use their IT systems by providing the necessary resources and solutions required to achieve the set goals.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
The Customer Acquisition Cost (CAC) is a key figure that indicates how much it costs a company to acquire a new customer. It includes all costs spent on reaching and acquiring new customers, such as advertising, sales promotion, selling costs, and customer service. This helps companies to review the efficiency of their marketing budget and evaluate whether they need to cut or increase their costs to attract more customers.
12/09/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Venture capital is a form of financing that provides funding to companies that do not have the normal means of bank credit or public financing. It is usually provided by investors who are willing to take a high risk and invest in the company in hopes of earning a higher return than usual. These investors often receive a share in the company, often in the form of shares or stock options.