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Understand how data is used to find out customer behavior and to create more effective business strategies.
Customer analytics is the technology that helps organizations unlock details about their customers and find insights that can expand their businesses and increase their return on investment in such endeavors. We will provide a brief introduction to this fast-growing field of customer analytics and talk about why it is needed for companies, how it is used there and what are the benefits and setbacks of Customer analytics.
Today, it is important for all organizations to learn how they can effectively work with customer data to gain insights and answers to key questions that can enhance their business operation and revenue. In this Customer Analytics Certification course, to teach such fundamental aspects of the technology, we shall use sophisticated statistical tools such as R and Tableau to analyze some actual customer data.
The use of Customer analytics is becoming more and more applicable to today’s world. Data is growing at a fast rate and all companies want to utilize this huge amount of data to learn about the needs of their customer. Customer satisfaction is key to competitive success and those organizations do not understand their customer losses in this battle of fierce competition. Customers are becoming more and more powerful with so many options available to them and they have to power to share their experience through social media to a large number of peers which can benefit or ruin a company Customers are armed with so much of information that they can build the brand in a day or ruin them. If companies can understand their customer’s buying habits and their pattern, then they can predict future customer behavior which will guide them to launch what relevant products they need at the right time and thus will earn a huge amount of profit.
Customer analytics can be better understood through below bullet points:
Customer analytics helps organizations increase the response rate such as for incident tickets etc.
Customer analytics leads to high customer satisfaction and customer loyalty and also turn the business by increasing the return on investment
Customer analytics builds a mechanism that reduces the campaign cost by only targeting the right customers which are most likely to buy a given product or service at the given time.
It can also help in decreasing the attrition rate of employees by predicting the customer’s expectations well in advance and also deliver the required product to them when it is needed.
It can segment the customers into specific groups more effectively so that it is easy to understand the customer and their needs in a better way.
It can also help in understanding how data can be used to find out much-hidden information about customer behavior.
Best practices about using the data so that personal information is not exposed are also taught in this Customer Analytics Certification and are quite important for customer analytics professionals.
Effective business strategies can be designed using current data and analytics