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Customer analytics is a process by which data from customer behavior is used to help make key business decisions via market segmentation and predictive analytics. This information is used by businesses for direct marketing, site selection, and customer relationship management. Marketing provides services to satisfy customers.
Data collection can be done by observing customer behavior through in-situ studies or by processing e.g. log files, by interviewing customers, potential customers, stakeholders, or a sample of the general population. The data can be quantitative in nature (counting sales, clicks, eye-tracking) or qualitative (surveys, questionnaires, interviews ...
Customer data or consumer data refers to all personal, behavioural, and demographic data that is collected by marketing companies and departments from their customer base. [1] To some extent, data collection from customers intrudes into customer privacy , the exact limits to the type and amount of data collected need to be regulated.
Increasingly, online interactions with customers are providing B2B marketers with a lower cost source of customer information. For prospect data, businesses can purchase data from compilers of business data, as well as gather information from their direct sales efforts, on-line sites, and specialty publications.
Retail reading. The final monthly retail sales report before the start of the holiday shopping season is set for release on Thursday. Economists estimate retail sales increased 0.3% over the prior ...
A data product is a computer application that takes data inputs and generates outputs, feeding them back into the environment. [41] It may be based on a model or algorithm. For instance, an application that analyzes data about customer purchase history, and uses the results to recommend other purchases the customer might enjoy. [42] [13]
Sales data, presented in a graphic format, can provide regular sales trend information and highlight whether certain customer types need to be targeted or focused. Price information by product line, compare with competitors, can monitor market trends; analyzed by customer type, it can check price trends in customer groups.
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