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Posted by Srividya Sridharan on February 25, 2014
Customer analytics takes center stage in the age of the customer for firms trying to understand and predict customer behavior. From descriptive to predictive methods, customer insights (CI) professionals can apply a wide array of analytics methods to behavioral customer data. CI professionals have a lot to consider when deciding on the right portfolio of methods to drive customer understanding – what dependencies exist between analytics methods, what investment levels are required, where to get help and what business value do these methods drive.
To make it easier, we identified 15 key customer analytics methods that help firms win, serve and retain their customers. In our latest report, “TechRadar™: Customer Analytics Methods, Q1 2014” (subscription required), we evaluate each of these methods in detail taking into consideration their current adoption as well future potential. These methods, ranging from behavioral customer segmentation, lifetime value analysis, next-best offer analysis to recommendation analysis, allow firms to analyze customer data and use the analytical insight to drive acquisition, retention, cross-sell/upsell, loyalty, personalization and contextual marketing.
Our analysis shows that:
This research will help you decide which customer analytics methods your company should cast in the lead roles of your advanced analytics play. The show must go on, but you have the opportunity to direct the future.
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