Customer intelligence

• Definition

  <- collection and analysis of large amounts of data that organisations use to determine the best, most effective ways to interface and interact with customers
• how it works

  1. gains a deeper understanding and builds more meaningful business relationships

  2. data is received from feedback surveys, social media, customer service interactions, purchases and website behaviours

  
  

  3. companies detect trends and patters that show where to focus their efforts and budgets

  
  

  4. can increase sales and revenue by knowing what product/service is popular and customer are willing to pay
• Benefits

  1. Increase sales
  2. improve customer loyalty and retention
  3. identify conversion opportunities
• challenges

  1. multiple communication channels to engage with customers
  2. too many variables when tracking customers
  3. data privacy and ethics
  4. data quality and interpretation