What is Customer Analysis and How Can it Help You?
Customer analytics is a subset of business analytics that focuses on metrics that tell you more about your customers. Where traditional forms of financial and operations analysis only tell the story of what’s happening inside your business, customer analysis tells the story of what’s going on outside your offices — where your customers come from and how they make decisions.
What Are the Benefits of Customer Analysis?
Customer analytics isn’t just one of the latest business buzzwords. It has a direct impact on your bottom line. According to a McKinsey DataMatics survey, businesses using customer analysis to make decisions are:
- 126 percent more likely to be ahead of the market in profits.
- 131 percent more likely to be ahead of the market in sales.
- 186 percent more likely to be ahead of the market in sales growth.