Giving customers what they want doesn’t have to be expensive, it needs to be relevant. — RetailCustomerExperience.com, Oct 2015
Ad Hoc Analytics — Benefits
Marketers rely on ad hoc analytics like consumer behavior, retention and loyalty — leveraging transaction and behavior data to get a panoramic view of customers. They track shopping behaviors and engage customers with relevant offers on items customers care about. With ad hoc analytics, marketers reward the right behaviors with promotions and discourage unprofitable behaviors. Methods like segmentation, or recency, frequency, monetary (RFM) uncover powerful patterns and define customer lifecycle profiles.
Customers want relevance… They realize the value of (their) data and expect brands to do something smart with it. Without it, they will not engage; or will disengage abruptly, and often permanently. — Relevant Dialogue, Oct 2015
Ad Hoc Analytics — Challenges
Consumers are unforgiving of poorly targeted, one-size fits-all marketing; they expect marketers to know what customers want. And yet, marketers fail to get the analytics to target and engage customers. The roadblock isn’t statistics, but efforts needed to integrate data into actionable analytical data sets –- data sets used to generate analytics.
A key challenge for CMOs is to seamlessly integrate customer data across channels. And making this happen falls not solely to tech but to all the departments across the enterprise. — MartechToday, Feb 2018
The challenge for marketers is using all this collected intelligence to effectively engage customers. Complex data structures and increasing data volumes challenge marketers. Many aren’t sure of the data they have. They don’t believe they have the data they need; and what they have, they question the quality.
A problem marketers run into is that they don’t have the skillset to understand and manage data, along with properly running tools to analyze and gather data. With data, you’re able to identify a problem. But, you need to explain how you’re going to resolve that problem. — Forbes, Oct 2015
In-house reporting tools don’t generate the data mining and deep-dive analytics required. And business analysts might be wizzes at Excel, but aren’t trained to manage complex data or disparate data sources. So marketers fail to get the insights they need. And lose confidence in both reporting and data.
Ad Hoc Analytics — IDP
At IDP, we understand your data will be challenging and that you have limited resources. We remove the requirement that business analysts manage unruly or fragmented data — bridging the gap between data management and analytics — so analysts focus, not on data, but on the analytics. Our ‘invasive’ data management and deep-dive data mining deliver rock solid analytical data sets and actionable analytics even when facing difficult data.
We develop ad hoc analytics to specific requirements that not only scale, but provide consistent, marketable results. We build accurate pictures of customer behaviors, and transform these insights into strategies you take to today’s market.