There’s far more Big Data available to analyze today than ever before. And smarter enterprises are tapping into that huge volume of data to acquire customers. But beyond acquisition, Big Data & Analytics can help organizations offer customers richer and more personalized service at every possible point of interaction, such as issuing geo-targeted coupons to retail customers’ mobile devices or recommending products and services based on a customer’s online searches. And analytics can also bring financial rewards by helping companies not only attract customers, but keep those customers and grow their profitability.
Watch how Big Data & Analytics are changing the way leaders approach business.
Customers as individuals
The days of seeing customers as broad demographic "segments" are long gone. Today, Big Data & Analytics let companies serve their customers as individuals. After one $1.5 billion organization, XO Communications, discovered it could identify the factors that foretold a customer’s departure, it improved its customer retention by 26 percent—translating to an annual net benefit of $3.8 million.
Analytics can help an enterprise identify and deliver exactly what an individual customer needs, in the right place and at the right time, uncovering significant trends hidden in that enormous cache of incoming data. And analytics can help organizations stay competitive. The insights found within billions of transactions helped one small financial institution more than double the response rate to its promotional offers and greatly increase its customers’ use of debit cards.
Today, smarter enterprises are increasingly using the power of Big Data & Analytics to strengthen their customer relationships.
Find out more about how IBM can help you acquire, grow and retain customers.