Skip to main content

What is Customer Analytics? Why is a Customer Analysis Important?

Companies grow, and so does their customer base. Hundreds turn to thousands, thousands to millions and so on. Keeping track of all the customer’s activities becomes difficult and tricky. But knowing the patterns in the customers’ behaviors provides the decision makers with guidelines for planning their business strategy. Surfing through such a massive database is humanly impossible. This is where customer analytics comes into the picture. But what is customer analytics? Let’s find out.

What is customer analytics?

As the name suggests, customer analytics deals with analyzing the customer database. It is a process by which the data gathered from customer behavior is used as guidelines to make key business decisions through market segmentation, predictive analysis, data visualization, information management, etc. The information thus gathered from the study is used to strategize direct marketing, site selection and in CRM (Customer Relationship Management).
We can thus summarize this as customer analytics, which is also called Customer Data Analytics, is a systematic study of a company’s customer database and behavior to identify, attract and retain customers.
Labels:

Comments

Post a Comment

Popular posts from this blog

What are the Technology bred Threats to Humanity In Today’s Era

While there have been many policies against deforestation, vehicles are still using way more natural oils and lessening the greenhouse effect and depletion of the ozone-layer for so long. But, it is not having the impact that it is supposed to. Furthermore, some of the humans are responsible for climate deterioration more than the others. And that includes industry and government people. Many policies against industrial waste have been created and are rolling-on for past few decades but don’t seem to be working against global warming. Why? It is because the rate of which we are depleting and consuming nature is not even close to the speed of maintaining the balance. These policies are not even a wall is close to being enough for stopping the rising oceans. On top of that, highly influential politicians stating that global warming is a hoax doesn’t help the earth’s deteriorating health. Read More
Post a Comment
Read more

3 Data Security Threats All Companies Face | Things to Consider in 2019

Cyber and Data Security Threats are the worst global threats today for businesses. Regardless of size, companies rely upon critical business data and sensitive information. Thus, companies need to be mindful of all potential risks to secure their networks in this new year. The  Cost of a Data Breach Study  (2018) by Ponemon with IBM Security’s sponsorship reports, a data breach’s average cost to be up by 6.4 per cent over its previous year to $3.86 million, globally. While the average cost for each stolen/lost record containing sensitive and confidential information also increased exponentially. Ransomware and Cybersecurity Vulnerabilities In 2019, ransomware will continue to be the main malware challenge for businesses and beyond. This includes Network Security threats and Software threats & vulnerabilities.  A  virus  is the first thing that comes across over minds with the term “Cyber Security”. Malware opens the door to all of your sensitive d...
Post a Comment
Read more

Google's New Launch : Flutter 1.0 | What is “Stable Cross-Platform”?

Cross-platform (CP) application development is in the limelight lately, and more so as Google announces Flutter 1.0. Many enterprises are now considering CP for developing any new product. Google finally unveiled a stable version of their cross-platform mobile app development – Flutter 1.0, Google’s UI toolkit, on 4th December 2018 at the Live event in London. Cross-Platform SDK Cross-platform development involves the use of a single codebase for creating software applications that can be deployed on multiple platforms. This is particularly put to use when companies wish to sell the same product for more than one software environment such as Windows, Android and iOS. Various advantages of using these SDKs are: Reusable code Convenience Maintainable code Cost-effective Market Reach Flutter 1.0 CP SDKs are particularly important as developing CP apps can be a total mess of non-native code. This is why Google has set out to create a CP SDK which can integrate smo...
2 comments
Read more