It’s essential that today’s companies make as much use and sense of the data that they are presented with if they are to market themselves effectively online. Analysing data can lead to a better customer experience, a stronger reputation and ultimately more sales and traffic. A recent survey by Alteryx and AbsolutData concluded that customer analytics data was regularly unstructured however, making it nigh on impossible for companies to get the most out of it. The resulting report, branded Predicting Customer Behavior with Analytics outlined three separate challenges that companies must face and overcome if they are to take full advantage of customer data.
What Should You Do With Data?
Companies all around the world can find it tough to access the information that they require to make better business decision and improve customer engagement. However, even those that do may face a battle when distributing the right data to the right people with the right expertise needed to outline plans based upon it. A report from McKinsey entitled Big Data: What’s Your Plan suggested that the first step towards turning customer data into prosperity was to outline a coherent and effective plan. It underlined the need for companies to consider how data analytics, resources and staff can be used together to bring results to the table, suggesting that companies should identify robust strategies to determine the way that different types of data should be dealt with – and how data will be collected, analysed and shared.
Improve Through Analytics
Customer analytics may be essential, but without a strategy to determine how analytics might be used, it can only go so far. However, with the right strategies in place, the customer experience can be heightened and business success can result. It’s also worth remembering that the ability to look backwards enables business to move forward.