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How Customer Analytics Works

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Shreya Sarkar
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22 views

How Customer Analytics Works

Uploaded by

Shreya Sarkar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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How customer analytics works

Customer analytics is often managed by an interdisciplinary group of leaders from


different departments, including marketing, sales, customer service, IT and business
analysts. To obtain meaningful insights, the group must agree on which business
metrics can comprehensively view the customer experience.

Customer analytics starts with raw data and ends with intelligent business decisions.
Before the data can inform decisions, it must pass through three stages: collection,
organization and analysis.

Collection: First, organizations must take in raw customer data from various sources,
such as marketing tools, CRM systems or third-party sources. Such data may include
the following:

 Demographics.

 Purchase history.

 Web and social media activity.

 Contact center interactions.

 Advertisement engagements.

 Survey responses.

Organization: Next, organizations must format the customer data to work in a


customer analytics tool because unorganized data may produce an inaccurate
customer profile. Multiple instances of CRMs, disparate enterprise resource
planning systems or poor customer data integration can lead to inaccurate results.
A customer data platform (CDP) can help organizations store and organize their data
in a central location.

Analysis: A customer analytics tool helps organizations make sense of their collected
data and can display trends in the form of charts and graphs. For example, the tool can
combine demographics, purchase history and social media data. With these data
points, the tool can produce a chart that reveals the organization's most
valuable customer segment is middle-income women from New England who follow
that organization on Instagram.

Organizations can derive insights from the tool's results and use them to make more
informed business decisions. In the case of the preceding example, the organization
may elect to increase its Instagram marketing budget or send personalized offers to
women in New England.

The three stages of customer analytics.


Customer analytics tools
Customer analytics tools are specialized apps used to improve the customer
experience, understand customer behavior and help tailor marketing campaigns to
specific customer segments.

These customer data analysis tools can be part of a CRM suite or sold as standalone
platforms that do everything from collecting customer data from different systems in
different locations (data integration) to data analysis and visualization. These tools
also connect to popular sales and marketing applications, web content management
systems, email, social platforms and customer loyalty programs.
Organizations have many customer analytics tools to choose from. Some tools from
major vendors include the following:

 Adobe Analytics.

 Amplitude.

 Heap.

 Google Analytics 360.

 Mixpanel.

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