LONDON--(BUSINESS WIRE)--Retaining potential customers is a big challenge that companies have been facing in recent years. The presence of large number of competitors in the retail sector along with the growing adoption for social media is making it difficult for many companies to retain their customers. Customer experience analytics helps companies to gain a customer base by developing prudent strategies, which will help them understand their customers in a better way by focusing on their needs and meeting their expectations accordingly.
In a blog titled ‘Customer Experience Analytics Powers the Next Generation Customer Engagement Strategies’, global analytics and advisory firm Quantzig evaluates the ways by which industries are building their customer base and retaining them with the help of customer experience analytics.
Quantzig notes that customer experience analytics can “determine how to engage with customers by devising prudent strategies which includes interaction with customers both within and outside of an organization. This can be done by involving a team of data mining experts and using the latest tools which have machine learning capabilities.”
In terms of customer retention solutions, “the process involves asking the right questions to the customers through mediums like surveys, social media, and backend call center interactions, processing the large amount of acquired unstructured data by the help of data scientists, and performing actions on various geography and demography from time to time, depending on the derived test results.”
For more insights, get in touch with Quantzig’s analytics solutions experts
The massive evolution of technology has provided business entities with an array of platforms through which they will be able to connect to their target customers. Both quantitative and qualitative data generated helps the business to understand their customer and design effective business strategies. Extraction of information from single source can prove to be misleading. Big Data helps in gathering information from multiple sources.
Read the entire blog here: https://www.quantzig.com/blog/customer-experience-analytics-powers-the-next-generation
More information on customer analytics and how they’re helping retailers increase profits by 12%, can be found using Quantzig’s resources. These resources are compiled from Quantzig’s team of over 500 analysts with industry expertise.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.