Customer Data Analytics is the application of computer data harvesting, processing and analysis to source insights on customers.
The ability of an enterprise to determine its customer value is influenced largely on its ability to understand the data it captures directly from customers, through interactions and transactions. Customer Data Analytics is a key element of any project to improve processes that underpin the customer experience offered by a business. Customer Experience is a term used to describe the relationship a customer has with a business. It refers to the total of all experiences the customer has with the business, based on all interactions and thoughts about the business. Equally important, it is an all-encompassing term. It includes communications touch-points, communications, emotional experience, behavior, data management, customer data platforms and technology ecosystems, and business model design implications.
A change agent
Not only is Customer Data Analytics important to business strategy but also as a change agent to process improvement. It comes down to the ability of organizations to maximize customer value and minimize operating costs by understanding what drives customer behaviors and decisions.
In light of recent technology innovations like cloud computing and big data, it’s now possible to develop systems and methods to fully appreciate what matters to customers by harvesting data from back-office systems. In like manner, it’s also possible to determine how customers want to interact. This helps organizations to forge effective marketing programs based on facts underpinned by data.
NDMC Consulting is an expert consultancy business specializing in customer experience strategy, management and customer data platforms. We’ve been delivering best-in-class customer experiences since 2003.
Wikipedia summary of Customer Data Analytics.
Helpful article summarizing data components used in customer data analytics