Enterprises are turning customer-centric increasingly to preserve their market share. They are adopting customer analytics to enable this transformation. A survey done by KPMG covering more than 800 executives unveiled some interesting trends and insights around how enterprises are adopting customer analytics and the benefits drawn from it.
A few of the trends highlighted in the report:
- Almost 80% of the executives are using customer analytics now to understand customers deeper
- Social media data is emerging as a key data source for enterprises to track customer sentiments and brand perceptions
- Almost half of the enterprises are enjoying benefits like higher sales by providing customers with targeted products and services leveraging insights drawn through customer analytics
- Customer analytics is increasingly being used in risk reduction strategies, sales and marketing enhancements and in improving productivity..
- Marketers are using customer analytics to understand consumer purchase decision journey and their spending patterns. Moreover, marketers become accustomed with the touch points that drive customers towards buying product.
- Telecommunications, Retail, Insurance and Banking are key verticals who are keen to adopt customer analytics as they have more data available with them.
- In addition to increasing sales, customer analytics is also being leveraged by enterprises to reduce cost and enhance customer experience
- Many enterprises are still struggling with issues like data integration and quality check. Some of the enterprises are figuring out how to leverage data for decision making and business value creation
The KPMG survey gives some interesting perspectives on how enterprises operating in multiple industry verticals are adopting customer analytics
Read report for more details
