Using Customer Analytics to Solve Critical Business Challenges
Using Customer Analytics to Solve Critical Business Challenges

The Wharton Customer Analytics Initiative (in which we participate) defines customer analytics as “the collection, management, analysis and strategic leverage of a firm’s granular data about the behavior(s) of its customers … Customer analytics can be characterized as behavioral, longitudinal, inherently granular, forward-looking and multi-platform.”

While that may sound very academic – it is, after all, coming from one of the preeminent business schools in the nation – the reality is that customer analytics is being used today by many organizations to solve critical business challenges. Analyzing, understanding, and acting upon customer data is revolutionizing how businesses operate – and it is creating the potential to change the competitive landscape for many industries. Research from the IBM Institute for Business Value shows that “top performers are three times more likely to be sophisticated users of data and analytics than their lower-performing peers.”

So what, exactly, are companies doing with customer analytics? They are:

  • Generating incremental value through cross-selling and up-selling
  • Personalizing experiences and offers
  • Increasing satisfaction
  • Identifying and retaining valuable customers

Learn more about how you can use customer analytics by downloading this whitepaper, Using Customer Analytics to Solve Critical Business Challenges.

 

Read more about customer analytics:

Why Banks Need Predictive Analytics to Engage Customers

Predictive Analytics in Retail

Predictive Analytics in Insurance