In the ultra-competitive space of the 21st century, it has become extremely challenging to deliver the best products and services which make customers happy and drive the revenue as well. The need for information to deliver what’s needed to customers has been increasing as data-driven decisions are strengthening the base of corporate environments.
From market research to product positioning and advertising, companies utilize a number of techniques: one of which happens to be customer analytics. In this article, we are going to give a detailed view of customer analytics and its significance. We will also be looking at the companies which are helping businesses progress via making the best use of customer analytics in numerous ways.
Let’s start with the very first and obvious question:
What is Customer Analytics?
Customer Analytics can be simply defined as the processes which have been used widely to make use of customer insights derived from various sources ranging from surveys to market research reports to make better and informed decisions needed to deliver the best products and services.
Have you ever noticed that when you open Netflix, it automatically shows you a lot of suggestions that match your interest? And you end up wondering why you just can’t stop thinking about Netflix! Customer Analytics is to be blamed here to hook you up completely to the application.
Through customer analytics, product managers and marketers get insightful perspectives about customer behavior which helps them to make better predictions and data-driven decisions.
Importance of Customer Analytics
When a company makes data-driven decisions and takes time to look into customer behavior and their buyer’s persona, they tend to perform better as compared to the times when they just do it without any analytically backed decisions.
Making a product and spending huge amounts of money on marketing without taking the requirements of customers and their insights into account is simply a waste of resources.
Therefore, it has become extremely important to know what customers need, how will they be paying for that, what’s the best location to sell, and loads of other significant factors to make better decisions.
The importance of customer analytics has been mentioned below in a pointwise manner:
- It helps in increasing the targeted customer base and its response to promotional activities, strengthens customer engagement, and as a result, increases sales figures.
- It assists you in customer segmentation and run segment focused campaigns who are most likely to purchase from your company.
- It plays a huge role in the identification of unsatisfied customers and gives you opportunities to improve.
Since customer analytics is a complicated phenomenon, businesses often need external assistance to make better decisions and deliver well.
Here are listed 4 big data customer analytics companies which are helping businesses and startups worldwide to make the best use of customer insights in scaling up their revenues and brand value:
- Revuze
Revuze Big Data Consumer Analytics Platform assists organizations ranging from startups to Fortune 500 companies to dominate their markets and grow.
Revuze offers six kinds of products that help businesses to reach a tailored solution to solve their data challenges. Their products include Revuze Explorer, Analytics Engine, New Product Launch Report, Net Promoter Score Report, Executive Summary Report, and Customer Satisfaction (CSAT) Report. Organizations can choose any of the six or the combination which suits their requirements and give an edge to their products and services in today’s competitive market.
Revuze offers its services in numerous industries including consumer packaged goods (CPG), personal care, automotive, sporting goods, fashion retailers, home appliances, food and beverages, technology, personal health, toys, financial services, etc. - Science Soft
Science Soft offers software consulting and development services that ensure the digital success of organizations in the online marketplace. They provide a wide array of services ranging from data analytics to software development and IT consulting.
Science Soft assists organizations to improve and innovate their business methodologies via transforming their business models through the usage of the latest technological capabilities. They help organizations utilize their big data via robust solutions that enhance data collection, processing, storage, and analysis.
Science Soft IT-enable all categories of B2B, B2C operations along with internal ones. They offer their services across a wide range of industries including healthcare, banking, manufacturing, information technologies, oil and gas, retail, telecommunication, insurance, marketing, and advertising, public services, etc. - Quantzig
Quantzig is international analytics and advisory firm that has offices located in the United States, United Kingdom, China, Canada, and India. The firm has 15 years of rich experience in the domain of analytics services and worked with a wide range of organizations including 55 Fortune 500 companies.
Quantzig brings together the best blend of consultants and analysts which help organizations solve their problem statements and get an edge in their business. It provides actionable data insights necessary for impactful decision making, customized business solutions, and advanced visualization tools.
Quantzig serves across a wide domain of industries including retail and CPG, food and beverage, healthcare, IT and telecom, banking, financial services, insurance, transportation and logistics, industrial and manufacturing, oil and gas, etc. - Cybertec PostgreSQL
Cybertec provides professional Data Science and PostgreSQL services to firms globally and helps them grow through the usage of machine learning, big data, and artificial intelligence to PostgreSQL consulting support, and training.
It provides a wide range of services which include PostgreSQL design, PostgreSQL migration, PostgreSQL administration, PostgreSQL consulting, PostgreSQL development, and PostgreSQL clustering services. In addition to this, the firm has developed in-house products based on experience accumulated over multiple years such as CYPEX, PostgreSQL Tools and Extensions, and Assessment Packages which can be integrated within existing systems and help organizational processes become more effective.
Conclusion
As someone wise said once: “Customer is the King”, so we can’t underestimate the importance of customer insights in making business decisions if we want our businesses to grow in today’s competitive environment. Ultimately, it can be concluded that Customer Analytics has been helping a wide range of industries and businesses to make informed decisions and better predictions which in turn not only increase their sales revenues but also establish a loyal customer base.
We hope that you got a comprehensive view of customer analytics, its significance, and the companies that are offering such services. Before you make any decisions for your business, make sure to keep the significance of customer analytics in mind!
Big Data Analytics featured image by James Bong from Pixabay.