In the information age, many businesses are intrigued as to what customers are saying about their products, services and brand right now.
Analysing data in real-time can make your company much more proactive when it comes to both existing and potential customers.
Social networking sites such as Twitter and Facebook have already implemented their own systems to measure real-time data, although it’s possible for any business to make use of real-time analytics.
You may be wondering exactly how to use real-time data. It’s important to remember that actionable metrics enable us to make more informed business decisions, and a similar approach should be applied to real-time analytics.
It goes without saying that instances in which you can take real-time action on real-time data are few and far between, although there are certain benefits in being able to access data within minutes of an event occurring.
Responding quickly to criticisms or complaints left on blogs, forums and social networking sites lets customers know that you acknowledge their issues with your company, and allows you to come across as a caring, customer-focused business in the process.
This has a double-positive effect – the customer who made the initial complaint is left feeling satisfied, and potential customers recognise that your business is proactive and willing to engage with customers as quickly as possible. It’s essentially publicity that money can’t buy.
Real-time data is useful in terms of measuring where traffic to your site is coming from, and can be used to gauge the success of your social media presence.
When launching new products or features, real-time analytics provide you with an insight into whether your customers are adopting changes to your service or new products from the get-go.