12/08/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
An extract from the commercial register is a document issued by a competent district court that contains information about a company. The extract contains details such as the company name, address, company status, number of shareholders, responsible persons and much more. The commercial register excerpt is usually required for companies participating in a public tender, IPO or other similar process.
12/08/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A barrier to entry is an obstacle that prevents companies from operating in a particular market. This can be for technological, legal, financial, competitive or regulatory reasons. Some examples of barriers to entry are high entry fees, high investment requirements, high tariffs, strict regulations, patents and licenses, network effects, and brand recognition.
12/07/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
The cost of acquiring a new business customer depends on various factors. These factors can vary depending on the industry, the size of the company, and the potential customer. Nevertheless, there are some general guidelines to keep in mind.
In general, it costs companies between 5% and 15% of total revenue to acquire a new business customer. This percentage, known as the Customer Acquisition Cost (CAC), is made up of the cost of creating leads, acquiring them, and maintaining them.
In addition, customer service is often required to help customers integrate with the platform and provide further support as needed. These costs must also be included in CAC calculations.
It is important that companies have a CAC budget to track and control their investments in customer acquisition. This is the only way they can ensure that they achieve their goals and generate a positive ROI.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Business intelligence tools are software applications that help companies collect, analyze and process data from various sources to make better decisions. These tools can help companies identify trends and patterns in their data by creating reports, dashboards, and data visualizations.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Brand building is a strategic process of building a brand to enhance it in the eyes of consumers. The process involves developing a strategic vision, identifying brand values and communicating the brand message. The goal is to establish the brand in the minds of consumers and create an emotional connection with them. This enables companies to gain a competitive advantage.