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The many benefits of customer segmentation

This is the last in the series of the ‘Operationalizing Data Analytics’ blog posts but certainly not the least important. Readers may recall an earlier post in this series called, ‘How To Build A Customer Profile Base’. Today’s post is the next logical step ahead - segmenting your customers. So getting straight to the point – what does segmenting mean and why and how should businesses do it? In any business,

Drawing up a prospects list for your business

In my previous blog post, we learned how to build a customer profile database, and the challenges while doing so. Taking off from there, today, I shall explain how to go about making a prospects list. Definition: A prospects list is a place very much like a catalogue of those people or companies most likely to benefit from the products or services offered by you or your company. In fact, the

How to build a customer profile database

As I had promised in my previous post, I start off today's post by explaining how an Enterprise can operationalize analytics. The biggest challenge before any Enterprise, be it a B2B or B2C company, is – getting to know the customer. Build a customer interactions database. This is the first of the six important steps in operationalizing analytics for any company, and often one where many falter. But before you go

Retail is increasingly relying on data analytics to retain customers

The digital transformation of retail and the need for Analytics There used to be a time not so long ago when shopping was a flat, unidimensional experience. There was the retailer and there was the customer. The first had something to offer; the latter could either take it or leave it. Somewhere in this equation there used to be some sops on offer like price cuts or freebies as customer bait. Computing

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