Data Analytics and Customer Segmentation
What does data analytics have to do with segmenting your current and prospective customers? EVERYTHING!
What if you were able to create strategies, tactics, and campaigns based on evidence and not past assumptions? What if you had insights and analytics culled from actual customer interactions? And could you ever imagine a world where you could utilize your expensive BI tools and resources by providing them with data that has been cleansed, validated and unified from disparate silos to create a true 360-degree view of your customers? It is possible, but leading companies around the world are accelerating past the competition in their respective sectors by operating their enterprises via just such a data-centric perspective.
The challenge stems from the need for customer analytics tool
It is common knowledge that Sales, Marketing, Finance and IT all have unique data needs. However, most companies don’t have the luxury of operating under a unified operating environment. Without data unification of disparate data sets, which at a foundational level are all related, the goal of a true Customer 360 initiative is nothing more than a pipe dream.
Yet, the need is still front and centre for Marketing to have the tools to extract insights, create viable segments, and build evidenced-based propensity models upon which ALL departments can depend to inform their work has only increased.
If anything, Covid-19 proved which firms were actually on their way to achieving digital maturity and exposed those which had only created taglines in their annual reports touting their “data-driven” prowess. What Covid-19 also emphasized was those firms creating evidenced-based segments were able to improve the omnichannel experience of their customers (B2B and B2C) by helping Sales and Marketing execute efficacious and personalized messaging, design pleasing customer journeys via a customer-driven UI/UX designs, and successfully driving new client acquisition.
Payoda Technology Inc on LinkedIn: #BigData #fashionindustry #ecommerce
BigData runs rampant in the #fashionindustry, used aggressively by retailers to assess consumer habits, not just…
Download our Case Study
Addressing the Fit & Size issue for the Fast Fashion industry
Companies that have transformed their enterprises focused on IDAP digitally- Identity Resolution, Data Enhancement, Attribution Modeling and Customer Data Platforms will be winners in every business category.
However, please make no mistake about it, THE most important ingredient upon which the world’s most valuable businesses compete is DATA. It is probably the least “alluring” of all the pillars of digital transformation initiatives, but it is without question the most important. World-class businesses are built by working with service providers skilled at data unification, data wrangling and data ingestion. And with the constant demand to investigate new data types in increasing volume.
At Payoda, we predict that we will begin to see the “attractiveness” of data professionals as their importance to business continuity and competitiveness continually increases.
If you would like to learn more on how Payoda can revolutionize your company’s customer segmentation using data & tap into the untapped market, talk to our data-experts for a free strategic consultation.
Visit us here to know more on our full-stack capabilities.
Authored by: John Sydnor