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Companies use Customer Relationship Management to:

Gather market research on customers, in real time if necessaryGenerate more reliable sales forecastsCoordinate information quickly between sales staff and customer support reps, increasing their effectivenessEnable sales reps to see the financial impact of different product configurations before they set pricesAccurately gauge the return on individual promotional programs and the effect of integrated marketing activities, and redirect spending accordinglyFeed data on customer preferences and problems to product designersIncrease sales by systematically identifying and managing sales leadsImprove customer retentionDesign effective customer service programsBusinesses now sit on data goldmines,

but very few leverage big data to improve customer service Companies such as sky customer services gather a ton of data on customers, not only what they’ve purchased but also what websites they visit, where they live, when they’ve contacted customer service, and if they interact with their brand on social media. It’s an overwhelming amount of seemingly unrelated data (that’s why it’s called big data), but companies that can properly mine this to offer a more personalized touch. To properly predict the future, companies must promote the right products to the right customers on the right channel.

Providing customers data that’s meaningful to them

By providing customers data that’s meaningful to them, these companies are using big data to develop superfans. Once they get hooked on their own personal data, they’re more likely to continue logging in or using the product. And if it all goes according to the master plan, they will have become brand loyalists along the way. The man who loves his Fuel band will perhaps buy more Nike athletic gear. The woman who loves how UP has improved her sleep may invest in another Jawbone product.

Use these articles and videos to further explore the science of marketing:
followthesteps
Smarter marketing strategies focus on the new science of giving people what they want.

Jer Thorp's TEDxVancouver talk teaches us about making data more human.

New York Times details photographer Rick Smolan's new book in the article, Big data gets its own photo album

Uncover suprising connections across many industries and companies In this business analytics video, Data trends let businesses spot new opportunities

Harvard Business Review article, The management revolution, reminds us "You can't manage what you can't measure."



Sources:

http://venturebeat.com/2014/04/21/5-ways-big-data-...
http://www.fastcodesign.com/1669551/how-companies-like-amazon-use-big-data-to-make-you-love-them

239934
Lesson Creator
Avenel, NJ, United States
What ways can you envision using big data and analytics in your day-to-day life?
10/31/2015 • 
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