CI is the collection and analysis of large amounts of data that determine the best and most effective ways to interact with customers. Insights from customer data (including the data they provide through form fills and other means and the data you capture via behavior tracking) gives brands in-depth customer intelligence (CI).
When a brand delivers real value to its consumers, it also increases the customer retention rate. This data collection and analysis allows brands to solve customer’s specific issues while maintaining customer satisfaction levels. What is customer data management?Ĭustomer data management is a process of collecting, analyzing, and managing the data that the consumers have shared with the business. Hence, the need for customer data management or CDM. Brands can cater to their customers at a much more personal level if they can manage the customer data effectively. By using this information, businesses can position themselves as a consumer-centric brand. Data-driven solutions can segregate consumers based on their demographic details, interests, behavior, and other data that consumers share across different touchpoints. Today, collecting consumer data is inexpensive and effortless. Managing customer data efficiently can also help improve return on investment. This knowledge can help improve customer service, improve marketing communication, and create better brand value. Understanding the customer at a personal level can help shape effective business strategies. The customer data analysis capabilities of a business determine its success. Nidhi Agarwal | Last Updated : 7 Mar, 2022
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