Big Data; Quantify the Online Behavior of Customers

Big Data; Quantify the Online Behavior of Customers
March 17 2017

The scenario of current digital markets is very challenging where the conversation between the buyer and seller has been taken over by the clicks on smartphones or laptops. Quality and seller’s impression are no longer purchase drivers. What consumers demand now is quality experiences over a digital platform and to win this customer experience game, businesses need to capitalize on data. Even though data is boring and cold but it is of due importance in the era of digital customers.

According to a study, it is reported that an average customer does not make a purchase before consulting 10.4 sources, which typically means that he covers a lot of websites to educate himself before taking a buying call. 77 percent use Google search, 84 percent check business sites, 41 percent read user reviews and 34 percent visit third party websites. All these touch points plus other platforms like Facebook and Instagram provide a plethora of information about customers which can be really helpful to professionals to plan their next business strategy. When the traits like their interests, behaviour or spending will are known then delivering the right services at the right moment through the right medium becomes easy.

Now, all these requirements capitalise on data. Kurt Marko, the Forbes contributor and independent technology analyst, explains: “Collecting, correlating and analyzing data from customer interactions across channels is the key to transforming the customer experience from nightmare to nirvana.” All predictive and descriptive analyses of this data are very useful for businesses to tailor content at each touchpoint so that the best customer experiences can be delivered. Now if the data is scattered between the different teams then churning it into valuable insights becomes a task because no team has a complete view of the data at the hand. Here big data plays an essential role as it combines all information about customers or prospects from varied sources like social media, location, transaction data, etc and gives the insight which really helps the business in taking the next move of their strategy.

Businesses should just be careful with the data they use. They should quickly capture the data and use the best software to drive meaning from it. They should focus on the customer journey rather than on a single transaction. Data should be finally blended with content to enhance customer experience on the website. Big data should be aligned with the business goals after understanding its limitations properly.

While there are no set rules for creating experiences for online customers but still capitalizing on data is the smartest strategy. If businesses easily understand the numerical translation of customer’s expectations, desires, or concerns then the numbers of their profits will definitely touch the sky.

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