Customer analytics technologies for business: Introduction
Data is one of the most valuable assets a company has.
As businesses across various industries increasingly turn to customer analytics, harnessing the full power of this data can help them gain a competitive edge.
Leveraging insights derived from customer data analytics allows companies to deliver bespoke, targeted offerings.
In addition to enhancing customer engagement, this can ultimately drive business growth.
Our buyer’s guide has been written to advise, inform, and assist buyers, businesses, and a range of professionals as they attempt to identify the most suitable customer analytics technologies for their individual needs.
Who can benefit from our customer analytics technologies guide
Customer analytics technologies have become increasingly valuable across a wide range of sectors. These include retail, finance, healthcare, telecommunications, and e-commerce, among the many others now embracing this analytic technology.
Customer analytics technology is also being used by professionals such as marketing teams and managers, customer experience managers, data analysts, and IT specialists.
By harnessing the power of customer experience analytics, organisations can now refine their strategies to deliver exceptional service and foster loyalty from their customers.
Key considerations: Selecting customer analytics technologies
Researching, understanding, and selecting the best customer analytics technologies can be a time-consuming project, especially as each company has its bespoke requirements.
During any customer analytics technology procurement process, buyers must identify, confirm, and then focus on the most critical features and considerations.
Ensuring that they align with your business objectives first, some of the features and functionalities to look for include, but are not necessarily limited to:
Integration Capabilities
Customer analytics technologies should always be equipped to seamlessly integrate with existing digital ecosystems and company-wide data sources.
A solution that offers easy integration will likely minimise disruptions and leverage the full potential of your data systems, something which will save time and resources if it is quick and easy.
Real-Time Analytics
From business to social interactions, we now live in a fast-paced digital landscape that is all about instant information and reaction.
Some of the better technologies available now offer real-time customer behaviour analytics that provides companies with immediate and valuable insights.
Used well, this can allow businesses to react promptly to customer needs and market trends, keeping them at the cutting edge of data and analytics usage.
Comprehensive Data Analysis
Buyers now have a choice of increasingly robust customer analytics platforms.
When sifting through these, buyers should pay particular attention to those that offer a 360-degree view of customer journey analytics.
Another desirable feature is the ability of technologies to encompass all touchpoints and channels for a truly holistic understanding.
Scalability
Scalability is now a key feature of many software packages and digital platforms.
Buyers should always factor in any anticipated or potential business growth and select analytics technologies equipped to scale alongside this.
Opting for customer analytics software that can scale with your expanding data requirements and customer base will save time and resources, reducing the need for additional services.
User-Friendly Interface
It is vital that any considered customer analytics technologies platform is accessible to users of varying technical expertise.
This should always include intuitive dashboards and clear reporting features, both of which should be user-focused and easy to use, saving time and resources during the early adoption and training period.
Data Privacy and Compliance
Most companies handle a vast amount of important, private, and sensitive data.
As data protection regulations continue to tighten globally, it is imperative to choose a solution that adheres to legal standards and respects customer privacy.
This particular feature is non-negotiable when looking at any digital platform.
Leading customer analytics technologies systems and solutions
Having a wider choice of providers means there is always more to consider when buying customer analytics solutions.
Through our research, we have identified some of the leading customer analytics technologies that may be of interest to buyers and businesses.
- ADOBE Analytics
- Google Analytics 360
- IBM Watson Customer Experience Analytics
- Salesforce Customer 360
- SAS Customer Intelligence 360
- Tableau CRM (formerly Einstein Analytics)
- Oracle CX Analytics
- Mixpanel
- Pega Customer Decision Hub
- Amplitude Analytics
- Heap Analytics
- Optimizely
- Kissmetrics
- HubSpot‘s Customer Analytics Tools
- Microsoft Dynamics 365 Customer Insights
Latest technological advancements in customer analytics
As is to be expected across the digital landscape, new advancements are consistently enhancing the capabilities of analytics tools.
Some of the most recent and relevant of these include:
- Artificial Intelligence (AI) and Machine Learning (ML) is now integral, providing predictive analytics and personalisation at scale.
- Natural Language Processing (NLP) is improving the analysis of customer feedback and sentiment.
- Integration of Internet of Things (IoT) data is offering even more granular insights into customer behaviour.
Customer analytics technologies: Our conclusion
Customer analytics stands at the forefront of data-driven decision-making for many businesses across a range of industries.
If buyers carefully select the right customer analytics technologies, their business can unlock a wealth of insights to drive customer engagement and foster enduring relationships.
As the landscape of customer analytics continues to advance, staying informed about and aware of the latest developments can be key to maintaining a competitive advantage.
References
- Adobe Analytics: https://www.adobe.com/analytics/adobe-analytics.html
- Google Analytics 360: https://marketingplatform.google.com/about/analytics-360/
- IBM Watson Customer Experience Analytics: https://www.ibm.com/products/customer-experience-analytics
- Salesforce Customer 360: https://www.salesforce.com/products/customer-360/overview/
- SAS Customer Intelligence 360: https://www.sas.com/en_us/software/customer-intelligence-360.html
