Earlier this summer we looked at how retail organizations were
leveraging vast quantities of customer data and advanced analytics to personalize customer experiences, meeting the increasing demands of the marketplace, and ultimately preventing churn. The story of an ever-expanding landscape of customer data is well known, but extracting value from that data continues to be a challenge for most organizations.
We’re seeing a great set of solutions emerging from our partners to help tackle these customer data challenges, including IBM’s Predictive Customer Intelligence platform, which integrates critical elements of predictive analytics, marketing campaign automation and customer experience.
According to Forrester’s TechRadar, organizations are looking to implement advanced analytics solutions that address challenges with personalization and customer experience in the following ways:
- Granular individual consumer information: Provide a deeper understanding of a customer’s attitudes and behaviors on a personal level.
- Novel customer engagement: Meet the cross-channel demands of customers that expect immediate and consistent interaction with your brand.
- Competitive and relevant offers: Actively monitor product offerings and pricing in relation to the competition.
These ideas span all industries, beyond retail and consumer goods. It’s essential that all organizations better understand their customers to optimize each point of engagement. This understanding originates in successfully analyzing customer data to extract valuable and actionable insights for personalization.
On Thursday, Aug 20, during our next digital transformation webinar, we will dive deeper into the need for data and analytics in personalization, discuss how analytics enables better decision making, and cover recommended paths to transform your organization in aligning data and analytics. Join the session by registering here: Leverage Customer Data to Deliver a Personalized Digital Experience.