Analytics involves the application of advanced quantitative techniques on company and third-party market research data to help you make the best possible decision in a given situation. Analytical solutions combine insights from diverse disciplines, including statistics, data mining and operations research. Across industries, companies have used the power of analytics to forecast customer behaviour and make better decisions everyday.
Now, to understand how Analytics can help you is that:
"Connect the dots" in your customer relationship data to understand complex patterns of behaviour
Take the "guesswork" out of decision making - tactical, strategic or operational
Identify the best course of action to take at every decision point during your interactions with customers
Guide managers at all levels to achieve deeper understanding of their current and potential customers
Reduce costs due, by detecting abnormal patterns of behaviour and flagging it in real time
Reduce write-offs from bad debts by identifying potentially risky customers
Increased return on marketing investments through fine-grained segmentation and precise targeting of prospects and customers
Generalizing these further, Analytic solutions can be classified into three different types – explanatory models, predictive models and decision models.
More to come soon.....
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