Data analytics helps organizations gather all their data and use them to identify new opportunities. This, in turn, leads to improvements in business, more efficient operations, higher profits and ultimately happier customers.
Tracking customer behavior.
One important use of data analytics is analyzing a customer's transactional data. Such data can reveal how much and how often a customer has spent on which products or services. This kind of data is important in making marketing offers and recommendations to customers for future purchases based on customer preferences.
More personalized customer experience.
Data analytics offers a chance for companies to connect personally with their customers by rendering their products and services to the customer’s requirements. This eventually results in greater sales, greater customer satisfaction, and sustained brand loyalty.
Translates social media into a tool for better customer service.
Feedback surveys, call transcripts, and any form of customer communication exchange with service agents (SMS, social media posts, and chats included) are vital sources of data analytics which allow for optimized customer involvement. Companies can also use such analytics to carry out their marketing campaigns in a better way on any social media websites in demand, catering to customers’ preferences.
Delivers valuable feedback from all channels.
Data analytics can also show which channels are most frequently used by customers, and which ones need better engagement. Since customers are often connected to companies on many channels, it is important to collect, analyze, and treat all data on in order to equip the employees with the apt tools for understanding and providing optimum customer service. By understanding customer behavior, companies may resolve issues more efficiently, by providing quick and accurate solutions without asking many questions.