Enterprise AI

Customer analytics technology: What it is and why it matters

Customer analytics technology enables companies to turn customer data into meaningful insights about how consumers engage with a brand. Armed with that information, you can deliver timely and relevant offers to your prospects and customers, thus better meeting their needs while also winning more business. As Forrester explains, customer analytics technologies are “the tools, solutions, and platforms companies use to transform data into customer-focused actions that win, serve, and retain customers.”

Importantly, any company taking advantage of customer analytics stands to win big. According to research from McKinsey, for example, companies that use customer analytics extensively are much more likely to outperform the market in areas like profit, sales, and ROI.

A closer look at customer analytics

At a time when customers have access to more information than ever before and can make far more informed purchasing decisions, the goal with customer analytics technologies is simple. It’s about understanding how customers engage with your business and responding accordingly. Simply put, the better you understand your customers’ habits and preferences, the better you’ll be at predicting their buying behaviors. That, in turn, enables you to deliver the right kinds of offers—discounts, free shipping, bonus points, and more—at the right time in the customer journey, helping customers take a desired action, whether that’s purchasing, getting in touch with an agent, or subscribing to a newsletter.

Of course, using customer analytics technologies has other benefits too. For example:

  • Any time you’re able to deliver highly relevant offers and messages to the right people, you can drive higher response rates and increase ROI.

  • If you’re only targeting customers who have the highest propensity to respond, you’ll automatically lower the costs of running campaigns.

  • You can also minimize attrition by developing the right campaigns to proactively keep any customers you’re at risk of losing.

Other benefits of using customer analytics include being able to increase customer lifetime value by optimizing your interactions with customers, driving customer loyalty and retention rates, and improving the overall customer experience by eliminating customer pain points.

Not surprisingly, given the value that customer analytics can unlock, there are lots of vendors in the space. Forrester has an overview of providers that includes big companies, like Microsoft, Adobe, Salesforce, and SAP, as well as smaller vendors such as Acoustic, Informatica, Blueshift, and, you guessed it, integrate.ai.

Where we fit in

While, yes, it’s true—we are a “customer analytics technology” vendor, we’re also trying to elevate how businesses collect and use consumer data. Which is to say that we’re giving the whole process a facelift. That’s why we only use “good” data. In other words, no personally identifiable information—ever. That means no names, contact information, addresses, etc.

So, what kind of data do we use, then?

Contextually rich behavioral data, because it offers better insights into what consumers need without sacrificing their privacy. Which brings us to one of our core beliefs: that exceptional customer experience starts with airtight security. Beyond keeping consumers safe, this belief, which is represented in how our products are built, ensures that we’ve always got your reputation covered.

In that way, we’re empowering businesses to build trust and deliver more value in every interaction they have with their customers. Best of all, because we put privacy and ethics first, and never use personally identifiable information, we’re helping make doing business online more secure for everyone.

To learn more about how we’re leading the way in customer analytics and privacy, let’s talk.

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