Analytical CRM provides the tools to examine and visualize customer data, and to develop valuable insights into customer behaviour while they are still relevant.
Most medium to large organisations own vast quantities of information that they have accumulated on their customers.
The data will have come from a variety of sources. Included in these will be traditional customer information, such as that captured just to handle an order, EPOS Electronic Point of Sale) data, Web site traffic, campaign responses and so on.
This data is very often simply accumulating in a data warehouse with no attempt made to realise the solid business benefits that it can potentially provide.
Hidden in the months or even years of customer and transaction data are valuable insights into the organisation's customers and their behaviour that can provide the business with, not only, higher profitability, but lower operating costs, better customer retention and improved management information.
Blue Tahiti provides a range of functionality that allows a non-technical user to very quickly access information and gain insights into customer behaviour. This information can be used for a variety of purposes to improve the business's interaction with its customer base, and effectively expand that base.
Typically applications of the customer insight gained would be;
- Allow Marketing professionals to refine their marketing campaigns, to link particular products and services to particular groups of customers that are most likely to respond positively and deliver good lifetime value.
- Allow Marketing professionals to create targeted campaigns costing less, but producing higher responses from the right type of profitable customer.
- Allow Marketing professionals to refine campaigns in near real-time, ensuring that customers are targeted not only with the right product but at the right time.
- Allow a business to perform detailed customer value analysis to include: market basket analysis, product structure analysis, cross-product correlation analysis, multiple campaign response models, customer growth models, and churn and attrition models, to spot profit opportunities.
- Provide a business with KPI (Key Performance Indicator) and customer behaviour reporting that enables management to be as responsive as possible to changing customer or market behaviour.
As all markets become increasingly competitive, more and more businesses are coming to understand that exploiting the value in their customer data is key to driving profitability, keeping customers, and remaining competitive against global competition.
With a suite of applications that a marketer or manager can run on their desktop, Blue Tahiti brings the opportunity to realise these benefits to any business, large or small.