Organizations: how to deliver a customer centric approachManjiri Ranade
The current business climate is changing very fast due the global exposure and technological advances. The organizations that are embracing technological advances are thriving in these times. On the other hand, customers have become savvier and are expecting a lot.
How can the organizations deliver the customer-centric approach?
They can do so, by anticipating what the customers want, and when they want it, with the help of data analytics.
As the first step to taking help predicting customer needs and behavior, all the customer-related data is cleaned and accumulated on a modern data platform. The importance of the quality of data cannot be emphasized enough. I have mentioned it in my previous posts as well. If the data quality is not good, it can negatively affect the analysis.
Once the data is gathered, it can be effectively used to know the customers, their behavior, needs, and preferences. Data mining and predictive analysis can be used to find the hidden trends, identifying the high potential customers and the offers they could be interested in this increases customer acquisition at a reduced cost.
It can also help in retaining existing customers and reactivating older prospects.