Business users now have access to the knowledge, methods and easy-to-use tools that that help their company stay competitive. Customer analytics is a good example. Unlike many types of data analysis, customer analytics focuses on customer requirements and expectations, not the priorities of companies.
Why bother with customer analytics? It’s always good to understand problems and opportunities from your customers’ point of view. Customer analytics can help marketers and business leaders understand what drives customer satisfaction and loyalty and repeat purchases. It’s an efficient way to reduce marketing effort and costs.
What Customer Analytics Can Tell You
And, it reveals how different demographics, behavior or other information might affect different pricing strategies, product features or marketing campaigns. It’s possible to transform mountains of customer data into insight by gathering many types of data and perform a wide range of analysis.
Your goal is to choose the right data, tools and methods that provide insight into your core audience’s behavior and expectations. There are many ways to accomplish this. For example, you could get useful answers by:
- Grouping customer data by market segments. You can separate customer data by demographics, behavior, profitability, location and many other variables. The idea is to choose the variables that give you an accurate idea on how to better serve current customers and discover their unmet needs.
- Zeroing in on customers’ past behavior. Behavioral data is the information you collect and analyze during and after the buying process. It includes making purchases, registering, browsing, and using various devices for those actions.
- Using predictive analytics. You can use past customer behavior and Big Data analytics to predict customers’ future buying habits.
But customer analytics results don’t come out of thin air. You must build and maintain an environment that delivers results.
Two Paths to Customer Analytics Prowess
What does it take to develop powerful customer analytics solutions? To make the most of customer analytics data, basic functional requirements include:
- Ultra-high-speed data processing to work through growing mountains of information.
- A scalable system that uses the right amount of resources for any job.
- Ability handle diverse information, including unstructured and semi-structured data.
- Ability to visualize complex data sets.
- Ability to improve predictions by using past analysis results (optional but helpful)
You could build an inhouse environment with these capabilities. But, Big Data analytics requires an extensive infrastructure, which doesn’t come cheap.
Take our new service out for a spin. We have some very good news: you don’t have to build your infrastructure from scratch. There is another way.
We’re offering our AWS Test Drive to introduce our new cloud-based analytics service. It provides a remote computing environment, which includes fully configured Apache Drill and TIBCO Spotfire software as a service. Its major components include:
- The Amazon Web Services environment.
- TIBCO Spotfire data analysis and visualization.
- A ready-to-use Hadoop cluster.
- Access to sample data for exploring
- Video to walk you through the steps
Benefits galore. When you use our cloud-based data analytics platform, you’ll reap many benefits, including:
- A customizable analytics architecture. You can scale our flexible Hadoop- or MapR-based architecture to fit your operations requirements and pay only for the resources you use.
- Lower capital and operations costs. You can run high-volume analytics from cloud-based storage platforms, without buying your own equipment or storage space.
- Data that’s more accessible and useful. Our new data processing environment puts high-volume, ultra-high-speed processing and data integration capabilities at your disposal. And by using visualization tools such as TIBCO Spotfire, analysts and business users get quick, accurate insight into your data.
- Faster time to decisions. Much of the time used to analyze data is used by finding and cleaning it up. With the AWS platform, your analysts and business users will spend far less time requesting, waiting for and integrating disparate data.
Want modern customer analytics capabilities without the deployment and maintenance headaches, of building your own?
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Mohana brings more than 13 years’ business development, pre-sales, account management, program management experience to his work. He has a strong technology background and has worked in the banking, insurance and telecom industries. Mohana holds an MBA in Marketing, Managerial Analytics and Finance from Kellogg School of Management. He lives in Charlotte with his family.