How can Business benefit from Analytics-driven Customer Relationships?
Customer analytics have become a critical tool in acquisition and retention of todayâ€™s technically-savvy consumers. By combining data from multiple sources related to customer interaction and sales, marketing teams can focus on current and future customers with the most potential for anticipated revenues. Predictive analysis can detect evolving trends that allow executives and marketing to formulate business plans to take advantage of these indicators. There are some basic initial steps that need to be taken to gain this competitive advantage through analytics-driven customer information:
- Collect customer information related to profile (address, demographics), purchase history, and other interaction with the company.
- Build a 360 degree view of the customer through transformation of data into real information.
- Through analytics generate customer insight and ranking based on purchases, payments, etc.