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Companies have invested in many different platforms, technologies, and customer-facing initiatives to move towards an integrated, personalized marketing approach. This has created large integration challenges, redundancies, and hype by suppliers who are adamant that they have all the analytics attached to their software or plug in.
"A dirty secret in analytics is that most suppliers have simple reporting features on operational measures of their portion of the marketing supply chain, which is only valuable if you use their tools in isolation." Companies that want to connect with current and prospective customers in a relevant and timely manner need much more than standard reporting packages. Big data analytics providers like Cogensia offer business insight for the information age through in-depth analysis, data consolidation and expert consultation. A transformation is taking place, and companies need to remain at the forefront of the analytics revolution. It's not all about what you have, but more so how you use the tools you have. The most powerful technologies still need actionable strategies to follow through with, otherwise they won't deliver on the full extent of their capabilities.
Listed below are three big data analytic trends we hope to see in 2015:
1. Not all about the technology: Companies will hire talent, either internally or through a partner, to provide integrated analytics, including social, CRM, email and mobile data. This will include insights and recommendations for channel spend, performance assessments and customer-facing activity analytics. These tasks will be more manual, since the exercise requires interpretation and organization of the information.
2.Real-time data is a real thing: Modern-day analytics are robust enough to optimize on the fly, meaning data collection occurs in real time and reports will adjust accordingly. Digital technology continues to mature at a rapid rate, which means consumer demands and buying preferences will likely remain fluid. Companies need the proper data analytics and tools to keep pace with customers on a regular basis. Real-time infrastructure adoption this year jumped 8 percent to 35 percent of overall respondents. Analytics and insight will become more sophisticated to provide guidance into managing relationships in real time.
3.Customer analytics drive your 1:1 business and marketing decisions: Combining big data with predictive analytics used to be intimidating, but that is no longer the case. Over the past few years, the amount of data about customer interactions has grown exponentially. Now, connecting millions of pieces of individual data in one comprehensive marketing solution has become more realistic. This is still not an easy task, but with the right analytic partners, defining your customer and meeting your marketing goals has become much more attainable. Businesses equipped with the right tools and sophisticated analytic partners can sift through and mine the data they need to turn marketing goals into actionable insights. Once this information is identified, they can use it to create more meaningful 1:1 engagements with their current clients and attain new customers who have the same or similar behaviors. Big data analytics can be used to predict and get ahead of consumer trends; helping to grow more profitable customer relationships and guide the development of new products and services that people want to buy and will help you excel in the market place. A more data-driven approach to customer interaction can help businesses determine how to better serve their best customers and find more like them.
As companies further progress in the digital age, they'll need to partner with analytics businesses and platforms that provide accessible, integrated, real-time data collection and help them find actionable insights. Businesses today can now be equipped with the tools and business partners necessary to reach out to their customers with relevant andtimely messages.
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