Analytics to Increase Customer Profitability and Value
Customers increasingly view suppliers’ standard products and service lines as commodities, and they increasingly seek special services and differentiated treatments. Consequently, many suppliers have shifted their sales and marketing functions from product-centric to customer-centric. This shift is accomplished in part through analytics, including data mining, business intelligence, and analytics tools to understand customers’ behaviors – their preferences, purchasing habits, and affinity groups.
Customers’ behaviors are complex and highly varied. Analytics are essential to see through the complexity, identify targets, and gain insights about which customer-facing actions, such as deals or offers, will have the greatest