There has been a lot of change for companies recently. Things like mobile internet, cloud computing, automation and more are transforming the business landscape for different industries. Another thing that will surely have a very large impact on how companies do business in the 21st century is big data.
Big data is the collection, storage and analysis of sets of data so large and extensive that managing that much information on a commercial scale wasn’t feasible until very recently.
One place big data can certainly be integrated is in customer interaction. It can be used to improve customer service, marketing and all other facets of customer interaction a company performs. Here are some of the ways big data can improve customer interaction.
Personalized Marketing
One of the things big data can provide to companies in terms of their outreach to customers is personalized marketing. Traditionally, marketing mostly involved advertisements that targeted large swaths of the general public with the hope of reaching consumers that could conceivably have interest in that company’s products or services. Thanks to big data, however, there are now far more possibilities. It is now possible to target individual consumers with customer tailored advertising content.Due to the combining of data by a big data analytics platforms, the process of creating personalized advertising that targets specific consumers based on their history, tastes, preferences and background can be completely automated. This way an advertisement is loaded that is tailored specifically to that consumer. This raises the chances of converting that person into a paying customer significantly.
While you may think customers will find this intrusive, this is actually not the case. Consumers are 75 percent more likely to buy a product when targeted with personalized advertising.
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More Informed Customer Service
Big data platforms allow a company to collect more information about specific customers and preserve that information for the long term. This has great benefits in terms of the customer service that can be provided with access to that data.For example, the big data platform could be integrated into other applications company representatives use to provide customer service. When a customer calls in with an issue, this information can be immediately accessed purely based on that customer’s phone number. That service representative will be able to scan information regarding all other issues the customer called in about in the past. This can allow customer service representatives to be more informed. They’ll be able to provide superior service as a result.
Providing quality customer service is a necessity for retaining long term business. 67 percent of customers said a bad experience made them abandon a company before. Big data can help increase the number of positive outcomes produced for customers who have issues with products and services.
Predictive Analytics
The SAS Institute states that predictive analytics is the use of statistical algorithms, data and machine learning as a means of predicting future events. A capable big data analytics system can certainly be used in this way to make predictions about future customer behavior. Data obtained from sales records, website data extraction and market research can be analyzed by the software to determine what products a customer may want to purchase weeks, months or years out into the future.With predictive analytics, marketing can be much more informed and accurate. This is often used in conjunction with email marketing campaigns. Future emails are sent out based on the predictive analytics performed by the big data platform. It can almost make it seem like a company knows exactly when a person will want a product before they know themselves. In a way, it can actually accomplish this. The email marketing a product or service will be sent out at the exact right time to maximize the possibility of that lead being converted into a sale.
There’s many ways big data can be implemented by a company to lower costs and increase efficiency. It can also be used to greatly improve the customer experience. Certainly consider different ways your company could benefit from big data analytics.
By  Lindsey Patterson | Embed |
Author Bio - Lindsey is a freelance writer specializing in business and consumer technology. | |
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