It's important for small companies -- even those that don't do much business online -- to tap into the power of data analysis, but they don't need sophisticated systems to do it, writes Victor Ho, CEO and co-founder of FiveStars. Small retailers can use modern digital loyalty programs to keep track of their customers' identities and behaviors, he writes. "Because they now know which customers come frequently, which ones have stopped coming, and which ones prefer particular items, businesses can customize their treatment of these customers," he writes.

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