Business intelligence continues to be an area of high priority for organizations that are looking to improve their decision making on the data collected from processes, people and applications. Understanding what your customers want is a fundamental principle of marketing. This principle is simple in theory, but challenging to put into practice.
It is difficult for marketers to know what is on the customer’s mind today, then accurately anticipate what the customer may need/want tomorrow. The challenge doesn’t stem from lack of customer data. The fact is, customers and prospects are giving us information about themselves all the time. Through every purchase, response, event, transaction and web site hit, consumers reveal something about themselves. The challenge is integrating customer intelligence into a powerful business system.
Consumer spend analytics, derived from prepaid card awards, enables strategic decision making, opportunity assessment and revenue prioritization. Transaction processing data provides real insight for corporate leaders in marketing, product development, consumer experience, customer relationship and advertising management. These detailed reports outline:
- Where in the world your customers are spending their monies.
- What they are spending their monies on.
- How much they are spending and in what stores.
Synthesized with demographic data, static reports are transformed into a true decision support system for an organization. A Colorado company called Clear Peak, has been able to harness this powerful solution, and offer their clients a true competitive advantage.
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