What is customer analytics?
Customer analytics refers to the processes and technologies that give organizations the customer insight necessary to deliver offers that are anticipated, relevant and timely. As the backbone for all marketing activities, customer analytics comprises techniques such as predictive modeling, data visualization, information management and segmentation.
Why is customer analytics important?
"The insights derived from our new analytics capabilities are allowing us to find the sweet spots that will continue to drive loyalty, profitability and sustainable growth."
Executive Director for Medium Business Marketing, Verizon
Customer analytics is becoming critical. To understand why, consider this: Customers are more empowered and connected than ever. And becoming more so. Customers have access to information anywhere, any time – where to shop, what to buy, how much to pay, etc. That makes it increasingly important to predict how customers will behave when interacting with your organization, so you can respond accordingly. The deeper your understanding of customers' buying habits and lifestyle preferences, the more accurate your predictions of future buying behaviors will be – and the more successful you will be at delivering relevant offers that attract rather than alienate customers.
How does customer analytics work?
Predicting the future – that is, future customer behavior – isn't as mystical as it may seem. You can use previous customer interactions to predict the likelihood of future events. By taking all data aspects of previous interactions into consideration – from purchases to memberships to surveys to Web events, etc. – you can develop a customer analytics profile, which is an analytically based data view of an individual customer. You can then use this customer analytics profile to plan marketing activities, including inbound and outbound customer offers, social engagement activities – as well as to avoid overcontacting the customer.
Customer analytics solutions from SAS
"We have the seventh-largest revenue stream in terms of ticket sales of all 30 teams and we're the 20th largest market in the NBA. It's because we can take data and analyze it so effectively."
CEO, Orlando Magic
SAS Customer Intelligence offers a complete suite of customer analytics solutions that include capabilities for predictive modeling, data visualization, information management, segmentation, etc., across a variety of industry segments, including:
SAS also offers several key technologies that help enable customer analytics:
- An easy-to-use, point-and-click interface for analyzing data and publishing results.
- Streamlined data mining for creating highly accurate predictive and descriptive models based on large data volumes.
- The ability to identify and incorporate consumer relationship information into profiling, segmentation and targeting.
- Solutions, tools, methodologies and workflows for segmentation and data management in a single environment.
- Fast, easy predictive model generation.
- Econometric and time series analysis for modeling, forecasting and simulating business processes.
- Dynamic data visualization and desktop analytics.
- Full lifecycle model management and governance in a common framework.
Ready to learn more?
Call us at 1-800-727-0025 (US and Canada) or request more information.