Companies adopt advanced analytics tools and techniques to convert data into intelligence and drive key customer-facing business decisions. We see that customer intelligence (CI) professionals involved in customer analytics broadly perform three activities:
- Generate analytics: Create and produce analytical insights using analytical tools and technologies.
- Apply analytics: Choose the appropriate analytical methodology for the business problem and apply it to the context of the customer lifecycle.
- Activate analytics: Use analytical output and insights to optimize customer experiences and to drive customer growth, share of wallet, retention, and lifetime value.
In our conversations with analytics professionals, we find that that they struggle the most with the application and activation of insights that customer analytics generates. I will further explore this during my session at Forrester’s Customer Intelligence Forum, being held on April 18 and 19 in Los Angeles.
My colleagues Richard Evensen, Gina Sverdlov, and Emily Murphy will also be presenting in the same track, titled “Unlock The Value Of Customer Data And Market Insights.” Our sessions will address how to effectively integrate customer intelligence and market insights to create a holistic view of the customer, how to activate customer analytics across customer touch points, how to increase customer engagement with streamlined multichannel loyalty programs, and how to integrate behavioral social media data with market research data to enhance understanding of social media behaviors.
We’re all gearing up for the Forum and look forward to seeing you all in LA!