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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 .
Businesses use customer values and create a plan to gain a competitive advantage. Businesses use the knowledge of customers to guide the customer journey to their products and services. [57] Due to the shift in customer experience, in 2014 Wolny & Charoensuksai highlight three behaviours that show how decisions can be made in this digital journey.
The measurement, collecting, analysis, and reporting of web data in order to understand and optimize web usage is known as web analytics. Web analytics is more than just a way of measuring web traffic; it can also be used to conduct business and market research, as well as evaluate and enhance the effectiveness of a website. [24] Natural use
Artificial intelligence in customer experience is the use and development of artificial intelligence (AI) to aid and improve customer experience (sometimes abbreviated to CX AI). [ 1 ] [ 2 ] Chatbots are often seen as the first step in the development of AI within the industry, but more tailored offerings are slowly becoming available.
Google Analytics is implemented with "page tags", in this case, called the Google Analytics Tracking Code, [45] which is a snippet of JavaScript code that the website owner adds to every page of the website.
[1] [2] Cohort analysis allows a company to "see patterns clearly across the life-cycle of a customer (or user), rather than slicing across all customers blindly without accounting for the natural cycle that a customer undergoes." [3] By seeing these patterns of time, a company can adapt and tailor its service to those specific cohorts.
Now business analytics is becoming a tool that can influence the outcome of customer interactions. [8] When a specific customer type is considering a purchase, an analytics-enabled enterprise can modify the sales pitch to appeal to that consumer.
Behavioral analytics is also used by Target to suggest products to customers in their retail stores, while political campaigns use it to determine how potential voters should be approached. In addition to retail and political applications, behavioral analytics is also used by banks and manufacturing firms to prioritize leads generated by their ...