Understanding Customers Through Analytics

Nice overview of customer analytics at MarketingProfs. The article by Colin Shearer talks about four categories of analytics: Statistical analysis, On-line analytical processing (OLAP), Data mining and Text mining.

I couldn't agree more with Colin when he says:

With the massive amounts of customer data being generated every moment of every day, and the absolute necessity of carefully managing the customer relationship, analytics are no longer a nice thing to have; they are essential. The backlash against spam marketing, and new privacy legislation put into place as a result of this backlash, is forcing a more scientific approach to the art of marketing.

It will no longer be a matter of just throwing out a hook and seeing who bites; it will be about taking the time and using the right tools to truly understand customers, satisfy their needs and wants, and anticipate what they may want tomorrow.

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