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Customer Analytics

The core of customer analytics is to help companies better understand their customers and their needs. By examining and analyzing customer behavior, either individually or collectively, customer analytics decodes their actions and helps them make better decisions about, for example, pricing, purchasing behavior, or management. Customer analytics is often considered a subset of business analytics, but with a focused view and understanding of the customer.

Advantages of Customer Analytics

  • Increase response rates to improve customer retention and ROI on your marketing investments by providing the right customers with the highest quality information and offers.
  • Reduce campaign costs through targeted customer segmentation and personalized targeting, resulting in a high probability of offer response
  • Reduce customer churn through targeted predictions and consequently create stronger loyalty through targeted measures
  • Optimize the customer approach thanks to segment or potential analysis, demand forecasts or risk minimization

What is Customer Service Analytics?

Customer Service Analytics is the entire process of collecting and analyzing customer feedback to discover valuable insights. Efficient and personalized information is interactively provided to the customer and a completely new and positive customer relationship is created.

Just because you measure something now is no guarantee that you can implement it yourself. However, measurement is the basic prerequisite that is needed.

Tim Erben, Head of Marketing
Tim Erben, Head of Marketing,
CoPlanner

6 important steps to build for powerful customer analysis

  1. Know exactly what your goal is. Start with the goal in mind when you have explicit questions about your customer....
  2. Track the metrics and capture their data, then not only store this but also use it to track key customer analytics metrics....
  3. Analyze the data in great detail....
  4. Evaluate the model...
  5. Take appropriate action...
  6. Automate.

 

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