Customer analytics for Dummies
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Customer analytics is a process by which data can be turned into predictive insights to acquire customers, grow lifetime value, retain customers at risk of walking away, and enhance customer loyalty and advocacy. But because 90 percent of the data in the world has been created in the last two years, capturing it, analyzing it, and acting on it to get closer to your customers can sound like an overwhelming concept. With recent advances in technology, however, sophisticated yet easy-to-use analytic tools are now available for both large and small companies to collect and analyze the data they have to make solid predictions regarding customer behavior. As a result, customer analytics is no longer the daunting concept it used to be. And for businesses looking for a competitive edge, it’s no longer a nice-to-have. It’s a necessity.