Video: What Is Customer Analytics?

Sean McIver at MaxContact, and David Samuel at Contexta360 define what customer analytics is.

What Is Customer Analytics?

Sean McIver (MaxContact)

Sean McIver

Customer analytics is a broader field in which speech analytics sits. It’s insights into customers.

And generally speaking, it falls into four main categories.

You’ve got what happened. So the customer historically has done ABC.

You’ve got almost a diagnosis side of things.

• Why was that the behaviour of the customer?
• What drove them to that?

You can then utilize that to understand what’s likely to happen from an individual customer, or customer base side of things.

Using all of that information, you can then do something that’s a bit more predictive.

• So what will encourage a customer to engage?
• What language do they really respond well to?
• When do they respond well to that?

This allows you to modify the way in which you interact with customers so that you’re reaching them at the right time, in the right space where they are, and with the right people speaking to them, or communicating with them.

David Samuel (Contexta360)

David Samuel

This capability enables users to gain specific insights into their customers, so they understand how they will behave when interacting with your organization, so that you can respond accordingly.

So I guess an example of that may be, the deeper you understand your customers’ buying habits and lifestyle preferences, the more accurate your predictions of future buying behaviours will be, and then you’ll be more successful at delivering the relevant offers, if that’s your business, that would attract them rather than offering things that will turn them away.

So in turn, it should help to increase response rates and loyalty and ultimately return on investment (ROI)

If you are looking for more great video insights from the experts, check these out these videos next:

• At What Point Should You Move From Spreadsheets to WFM?
• How Do Chatbots Work?
• What Is Speech Analytics?

Author: Guest Author
Reviewed by: Robyn Coppell