TDWI Best Practices Report: Customer Analytics in the Age of Social Media

TDWI Best Practices Report | Customer Analytics in the Age of Social Media

July 2, 2012

Customer analytics and intelligence initiatives are undergoing major changes with the explosion in detailed customer behavior data, including that generated by social media. Today's organizations implement a variety of technologies to analyze customer data, including business intelligence (BI) tools, data warehouses, analytic databases, predictive analytics, data mining, data discovery, text analytics, social media analytics, customer data integration and master data management, and more. Organizations also have multiple channels to choose from for advertising, marketing, and customer engagement, and as a result, they have complicated decisions to make about where to devote resources to achieve the greatest impact.

For their part, customers today can make choices and dictate how they want to consume information about products and services. With customers exhibiting less loyalty and more selectivity about products, organizations need to be smarter. They need timely data and analytics to avoid losing customers to competitors who may be just a click away. Better customer intelligence is thus vital to more than just the marketing function; product development, services, and other functions in the organization need it.

Customer analytics, the focus of this TDWI Best Practices Report, is about implementing technologies and methods for knowing more about customers’ behavior, their paths to purchasing goods and services, and what actions will engender greater loyalty among those who are most valuable. The goal is to derive accurate information and insights from traditional transaction and service data as well as different types of behavioral data sources so that organizations can better identify, attract, interact with, and retain customers.

This original, survey-based research examines organizations’ experiences with customer analytics technologies in the age of social media and recommends best practices for improving customer intelligence and reaching customer-centric goals. Download the full, 40-page report to learn more.

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