Customers want relevance. They realize the value of their data and expect brands to do something smart with it. To stay competitive, marketers rely on specific-purpose analytics like consumer behavior, retention and loyalty.
Giving customers what they want doesn’t have to be expensive, it needs to be relevant. — RetailCustomerExperience.com, Oct 2015
Deep-dive analytics provide visibility into what customers buy and how frequently. They show product combinations purchased and responsiveness to offers.
Deep-Dive Analytics — Benefits
With deep-dive analytics, marketers leverage data to get a panoramic view of customers. They track shopping behaviors and engage customers with relevant offers on items customers care about. They reward the right behaviors and discourage unprofitable ones. Methods like segmentation, or recency, frequency, monetary (RFM) uncover powerful behavior patterns and customer lifecycle profiles.
Customers expect a seamless experience from the time they start their research, through the buying process, until the product is in their hands and beyond. When data enables this experience, customer satisfaction improves, and customer retention remains strong. — Customer THINK, Nov 2017
Deep-Dive Analytics — Challenges
Consumers are unforgiving of poorly targeted, one-size fits-all marketing. They expect marketers to know what customers want next. More than ever, marketers depend on deep-dive analytics. And yet, marketers fail to get the analytics they need. The challenge is effectively using their data. Marketers are drowning in data. 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 manage data, along with properly running tools to analyze 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
The roadblock isn’t statistics. It’s the efforts needed to integrate data into actionable analytical data sets. Data sets that generate analytics. In-house reporting tools can’t produce deep-dive analytics. And business analysts, who derive insights from data, can’t manage complex data. So many marketers fail to get the insights they need. And lose confidence in both reporting and data.
Deep-Dive Analytics — IDP
At IDP, we know your data is challenging and that you have limited resources. We remove the requirement that business analysts manage unruly data — bridging the gap between data management and analytics. So analysts focus, not on data, but on making recommendations from statistics.
IDP delivers rock solid analytical data sets and actionable analytics even when facing difficult data. We build accurate pictures of customer behaviors, and transform these insights into strategies you take to market. And design analytics that not only scale, but provide consistent, marketable results.
We manage large data volumes with complex structures and integrate disparate data sources. And we always collaborate with marketing executives to generate methodologies that produce results.