Customer Insights are the gateway to understand and reach the Customer with the best and relevant offers and also maintain a great deal of transparency. That is why we collect the data related to consumers.
Why the Customer Data Is Important?
It is helpful for market researchers to recognize/analyze the business opportunities also the risks with help of appropriate customer data.Data helps to reach your target market: Now-a-days the marketing and advertising is much expensive. As per a survey the whole global spending on digital ads are about reach $600+ billion as it is a large amount must need to steer on data driven decision means data based on measurable goals and KPI's, analyzing patterns and facts from these insights.
How does Customer Insights work?
Customer Insights has best way to collaborating/organizing the data. As if we see in high level this data can be divided into two categories that are... "business resource of interest (Profiles)" and "activities and communication (Interactions)"
There are numerous tools for market research, machine learning, AI, and automation available in global to capture customer insights. What to chose is based on working industry, goals and budget.
Here, I am going to brief something about Dynamics 365 Customer Insights (Recently attended an event for D365 CI in a day @Microsoft,Malaysia).
How Dynamics 365 Customer Insights helps?
D365 for Customer Insights is an Azure Service, an Azure subscription is required to set it up.There are software that are helping better customer engagement and now have more personalized interactions. But it is harder to have 360 view of the customer. That’s the problem D365 for Customer Insights is here to solve.
Tracking KPIs:
Customer Insights can define multiple KPIs and track targets for your customers. It groups all your customer’s data under their profile making it a lot easier to track progress and pinpoint any gaps or problems.
Customer 360:
Usually we use multiple systems for different purposes, this will lead to a data scattering around different databases and it makes hard to search for a specific interaction from a point in time.But the Customer Insight's brings the whole customer journey in to our vision connecting all DB, this could be helpful to organize/analyze customer needs and enhance our future engagements.
Segmentation:
It is the process of dividing customers into groups based on characteristics and this will be helpful for marketing each group effectively and appropriately and also strategically can plan for marketing people for following up customer groups.
Conclusion:
Every technology have a purpose to make human work easier by solving real-life problems. With every technology advancement, businesses are trying to reduce cost, time span, man power and increase in profits.Most of business units have their data stored in different systems like Sales, Accounting, Marketing. All these individually used to achieve daily jobs. But,it makes difficult to get all customer’s information in one place.Microsoft Dynamics 365 for Customer Insights is the solution for this can say..and its performing well.
For more information about D365 Customer Insights overview,working strategies and pricing, follow the below link...
For a documentation, click below link...
Thank you...