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How Business Stays a Step Ahead by Relying on Big Data

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Big data and analytics are vital to understand, target, and convert prospects into revenue generators. As data grows, so does technological capabilities. The tools are disruptive, but help to understand what makes customers tick. Technology now processes thousands of data sets and for real-time dashboards for real-time advantages.

With innumerable brands competing for mind and shelf space, it is no puzzle that the only point of difference between a superior and a sub-par brand is customer experience. Brands that take due care to provide exceptional customer service and products are the ones that prove to have the ‘x-factor’ sometimes. Big data enables companies to make sense of zillions of bytes, know what to do, and ensure successful products and marketing campaigns.

Helping businesses stay one step ahead

Analytics is important for companies to gauge preferences and offer just the right options.

Businesses, by analyzing data on customer purchase, browsing history, and customer profiles can understand the kind of products their prospects are willing to buy. With the information, companies can introduce new products, revamp old ones, and offer only what customers want. This means more targeted offerings and waning of unwanted product lines.

Social media presence is for businesses to interact and engage with their customers in real time. Big data gives access to real-time data about what a consumer is buying, clicking on, and commenting about. Companies may have continuous conversations with people through customized landing pages, apps, and advertisements.

Three basic questions any big data tool should answer

  1. What is the profile of an ideal customer?
  2. What are the top 3 products any given customer is likely to buy?
  3. What is the best channel and time to connect with customers?

 

Listening to customer interactions across digital channels in real time has become the most fundamental need in many industries. It is for businesses to learn about their customers’ behavior by building holistic customer profiles and running personalized campaigns through cloud and on-premise platforms. Most of that can be done through automation.

Analytics-driven programmatic solutions let marketers develop and execute marketing campaigns based on a complete understanding of customer preferences. This helps unleash the full potential of media planning software and leads to improved customer satisfaction, better acquisition rate, and higher conversions—especially as automation gets more accurate and data gets bigger.

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