How Big Data can Create Value for Customers
Every two days we create as much information as we did from the dawn of civilization up until 2003. And this is growing at an amazing rate. As we know, all business decisions are based on data analysis. And today organizations are seeking to connect as many sources of data as they can.
Big Data for Customer Loyalty
This great article entitled "Use Big Data to Create Value for Customers, Not Just Target Them" by Niraj Dawar explains that: "The questions that need to be asked of big data are not just what will trigger the next purchase, but what will get this customer to remain loyal."
Creating Value for Customers
The article goes on to say that companies should ask the following three questions in order to create value for their customers:
- What types of information will help my customers reduce their costs or risks?
- What type of information is currently widely dispersed, but would yield new insight if aggregated?
- Is there diversity and variance among my customers such that they will benefit from aggregating others’ data with theirs?
We realize that customers are becoming more and more demanding . They expect rapid interaction, immediate answers and easy access to information. This is why we have created tools, enabling our customers to send and store all communications for their customers.
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When mistakes happen in business communications it can be embarrassing and costly - it can even be a security issue. If marketing mailers don’t reach their intended recipients, it’s a waste of money; if a customer is sent the wrong product information, it can jeopardise a business relationship, but if...