Customer Analytics is a suite of jumpstart use cases that enable customers to use data for decision-making through data-driven actionable insights. It applies machine learning to data to generate insights and build customer and/or product strategy. A customer Analytics solution can address various scenarios as highlighted below.
Customer Segmentation uses machine learning algorithms to segment customers into groups that are relevant from a business perspective. Businesses can get a closer view of customer preferences, demographics, purchasing behavior, and related customer dynamics which will aid in planning for the next best actions including special offers, campaigns, retention strategies, and personalized pricing.
Customer Experience Analytics
Customer Experience Analytics measures and analyzes various customer touchpoints with the organization and customer engagement through different channels throughout the customer lifecycle.
Customer 360 provides a complete view of the Customer including demographic profile, historical interactions, lifetime value, and recommendations that can be made to the customer for future products.
Campaign Analytics jumpstart solution enables customers to use machine learning to identify prospects for a marketing campaign. This solution can be used to optimize Marketing spend through ROI optimization.
Customer Churn prediction uses advanced machine learning algorithms to identify customers who are likely to churn. This enables marketers to proactively reach out to these customers for defining retention strategies.
Customer Service Analytics
Customer Service Analytics provides the ability to view customer’s interactions with the service departments. Segment customers based on their interactions. Analyze the most important issues raised by customers through analysis of the customer interactions.
Customer Recommendation Engine
Customer Recommendation Engine uses machine learning to identify recommendations for products and services that the customer is likely to purchase.
Cross-Sell and Upsell Analytics
Cross-Sell and Upsell Analytics identify opportunities to cross-sell and upsell products and services to customers.
Strategy Maps applies Strategic frameworks such as BCG Growth-Share Framework for building strategy for customer segments, products, and services.