Understanding what motivates customers to do business with an organization is a fundamental aspect of today’s customer-centric business environment. To succeed, organizations must quickly identify changes in customer tastes and preferences and act to improve the overall customer experience.
„How can we optimize customer profitability?”
„How can we control marketing campaign ROI?”
„Who are the customers that make multiple purchases?”
„Why have we lost some high value customers?”
Those are just a few questions to which sales people and marketers must answer. In order to give answers, they must capture many different types of customer data: attitudinal, behavioral, transactional, and more. But all those data must be analyzed in order to achieve a customer behavior understanding.
When we talk about analytic process, we mean two levels: historical and predictive. Provided by OLAP cubes, historical analysis is an important component of customer understanding, revealing past customers activity.
Instead, predictive analytics provides a clear picture of what is going to happen, enabling marketers and sales person to understand the key factors that drive customer value and loyalty, and attract more customers. That is what SocrateBI’s Sales and Customer Analysis Module (SCAM) does.
Based on information provided by SCAM, the marketers and sales people can:
- understand and define customer behaviors;
- identify customer demographics;
- monitor shopping habits;
- identify product preferences.
- identifying the appropriate target audience and products for designing cross sell campaigns
- identify products with increasing/decreasing revenue
- identify potential products, that can be used for a cross sell campaign
- what percent of customers contribute the top 10% of profits in a given month
- analyze quantities, revenue and operating margin for two periods of time
- see how revenues and discounts are divided amongst items
- identify sold quantities and sales value of agents per week
- emphasizes the monthly trend of the Operating Revenue
- identify product category contribution to operating revenue
And all those in order to develop targeted offers and match a specific offer to a specific individual.
They can also manage customers information to create and execute marketing campaigns, knowing which messages and offers to send, to whom and when to send them. They can also forecast campaign ROI by measuring & extrapolating campaign results in real-time of previous similar campaigns & similar target market.
SocrateBI uses MicroStrategy as development and production environment platform, allowing access to the latest features available in MicroStrategy platform: MicroStrategy Mobile, Transaction Services or Visual Insight.