Why should you care?
It is likely you have the potential to introduce an extra highly valuable service to your Customers by using and transforming existing untapped data you already have available.
If you provide important Products and Services to your Customers then:
Your Customers probably have a challenge in Managing the area of their business that your Products and Services relate to
It is very likely that your Systems record data related to all Customer Transactions
It is quite likely your business spends time/cost in Administration, Customer Service, Management, Account Management, etc. answering questions about your Products and Services from Customers – This is reasonable, as your Customers need transparency to manage the area in question
It is quite possible you hold data, that if transformed into suitable Analytical Visuals could be a game changer and enormous benefit for your Customers in managing the element of their business that you service. They will not want to leave, and more likely want to do much more with you if you make their management challenges easier and more effective.
In summary, the above two points mean we are exploring something that has the potential to:
Reduce your internal costs of managing Customers
Improve the Customer Satisfaction within existing business
Increase the amount of business with existing Customers and attract new Customers
What is needed
You need to provide Customers their own secure online Dashboard to obtain the information they require in the form of Measures, Reports and Interactive Analysis so they manage effectively.
Every question they need answered to manage effectively should be obtained clearly within seconds via their online Dashboard.
The Service should be built above a Business Intelligence (BI) Analytical and Reporting platform with the help of a Service provider or resources that are skilled in providing Customer Analytics solutions along with the data security models that are required.
Sharing my experiences and application of Customers Analytics
There are two of our Clients that come to mind that are worth sharing:
3rd Party Warehouse – Using current Inventory data and Transaction History data, we were able to help our Client transform their raw data into valuable Customer Analytics that provided their Customers with information like how many forecast days of stock they had remaining. We provided this for every product but also provided an average measure so their Customers could see how well they were performing in terms of managing their Inventory (working capital).
Waste Management – This Client has over 100,000 Customers they deal with in a year. Their large Customers are very demanding because managing waste is a huge deal for them. With our help our Client now provides their Customers insights into waste management including breakdown of general and recycled across dates and sites.
There are of course endless applications of Customer Analytics that may have huge benefits.
How to approach
Understand intimately what Problem/Challenge your Customers are trying to manage (related to this space you service for them)
What do they need to see to manage? More accurately what do they need to Measure or Measure By to manage their Problem/Challenge?
With the help of system experts, understand where and what you need to tap into for each of the Measures and Measures By above – document in mapping table
With help of experts, design a Business Intelligence Visualisation solution
With help of experts, design a Security model design such that when your Customer logs in, they only have access to their data
Consider integrating into your existing Web Site if you have a Customer login section
Promote what you have done for your Customers and why
Measure the benefits that you are getting through more business and less internal Customer Management time i.e. Increased Revenue and Reduced costs
Please feel comfortable to share your challenges with me. My e-mail is: email@example.com.
4GM Managing Director