Would you like to know more about your customers to improve engagement? Are you able to make them loyal and increase their lifetime value? These are some of the questions that customer analytics can help answer. Customer analytics, also called customer data analytics, is the systematic examination of a company's customer information and behavior to identify,…
Keeping customer churn in check is dire, as it typically costs more to acquire a customer than to retain customers. To help businesses retain their customers, data scientists and IT analysts should consider customer churn analysis to better predict customer behavior. Here’s a quick overview of the tools necessary to predict customer churn. #1.…
After reading “Forrester 2023 Customer Experience Predictions”, it was surprising to see one of its projections – 20% of customer experience (CX) programs will disappear this year. Forrester explains that companies for which great CX is not part of their brand identity will demand proof that CX spending is necessary. Unfortunately, 54% of CX…
The Cost of a Data Breach Report 2022, conducted by Ponemon Institute, found that data security breaches now cost companies $4.34 million per incident on average – the highest cost in the 18-year history of the report. Forty-five percent of all breaches were cloud-based. This percentage is likely to increase, given that 43% of…
Back in the 1990s, I was an industry analyst covering data warehousing and business intelligence at Giga Information Group (subsequently acquired by Forrester Research). It continues to surprise me how little these technologies have changed since that time. Organizations today are still struggling with some of the very same complexities when it comes to…
The speed of change in modern business is accelerating. New technologies, globalization, regulatory changes and competitors entering and leaving the market are just a few examples of the types of environmental forces that bombard companies every day. Developing a sustainable, competitive advantage requires company leaders to identify and respond to opportunities and threats quickly,…
