LONDON--(EON: Enhanced Online News)--The manufacturing industry is a rapidly changing and a challenging sector that needs to react spontaneously to the continuous changes that occur. Manufacturers are increasingly turning to advanced customer analytics services as predicting performances and removing unimportant data in an organization is time consuming. Customer analytics tools and services reduce the clutter of information and focuses on key performance indicators that have a direct impact on businesses.
Advanced customer analytics is used in sales and marketing to improve sales through marketing campaigns and improve marketing campaigns with proper segmentation of the target and subsequent targeting of marketing offers. One such example is a leading consumer food products manufacturer who turned to analytical intelligence experts at Quantzig to analyze customer behavior and buying preferences specific to particular product categories.
The client was experiencing a steady decline in sales and was unable to determine how to influence customers and improve sales. After conducting an ethnographic study for environments in which participants live, work or spend their spare time, a correlation and regression modeling was done on the qualitative and quantitative data along with CRM data to predict future behavior and buying patterns. This modeling performed by Quantzig allowed for the client to gain clear visibility on the factors that influenced consumer buying behavior for their brand.
This method is one of many ways in which advanced analytics are helping organizations globally. Due to the significant benefits these analytics provide, the global advanced analytics market is expected to grow USD 2.5 billion between the years 2015-2020, according to Quantzig. This projection will push the market over USD 4 billion by 2020.
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What Can You Do with Customer Analytics?
Identify where customers came from
Knowing the path in which customers arrived at your website is essential information. This knowledge will identify which channels are the most profitable, most popular, and which areas should be the focal point for advertising efforts.
See where customers are going
Once the visitor has arrived to your website, CRM software and similar customer analytics tools and services allow you to see how customers interact with your website. You can track time spent viewing a particular page, what links they click, whether or not they choose to buy your product, and at which page they exited the site.
Track what customers are saying on social media
Utilizing social data tracking and sentiment analysis tools shows you what potential customers are saying about your organization and your products on social media. This information is vital in understanding customer preferences and habits on a broad scale, as well as within individual customer segments.
Predict future sales and customer behaviors
Customer analytics identifies patterns and trends of typical customer spending habits, allowing you to predict when you are likely to make the most profits and when to offer special promotions and sales. These patterns will help you gain insights to when customers are most likely to buy specific or seasonal products, allowing you to create strategies that best take advantage of these patterns.
Customize what you want to track
Whether it’s vanity analytics, pure traffic, or conversions, organizations can customize exactly what data they want to track. This flexibility gives users the option to generate reports and insights based on their needs, while focusing on the data which is most helpful for their business.
For more information on all of Quantzig’s services and solutions, or information on recent successful projects helping Fortune 500 clients, please contact us.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of about 120+ clients, including 45 Fortune 500 companies.