Data mining tools and software make Big Data more manageable for organizations that rely on data analysis for better business decision-making. Specifically, data mining is a step in the knowledge discovery process that allows organizations to analyze Big Data to gain the insights and knowledge that enable data-driven marketing. Organizations utilize data mining tools and techniques to predict how customers will respond to marketing campaigns, to target customers, and to improve customer lifetime value. These tools rely on computer algorithms to analyze customer data and then mine the information to identify customer behavior patterns that likely will increase sales and reduce customer attrition.
As CNN reports: “data mining can boost your revenue by 300%.” While 300% may be a lofty revenue jump for most companies, Forbes reports that companies effectively using Big Data and analytics have productivity rates and profitability that are 5-6% higher than their peers’. Furthermore, Forbes reports that one study determined “that companies that put data at the center of marketing and sales decisions improve their marketing return on investment (MROI) by 15 – 20 percent. That adds up to $150 – $200 billion of additional value based on global annual marketing spend of an estimated $1 trillion.”
Tools for data mining that provide real-time views into customer behavior are the most beneficial and rewarding. In fact, the best data mining software solutions automate data collection and transform data into actionable insights, allowing enterprises to quickly glean the most valuable trends and insights to inform decision-making. NGDATA’s Lily Enterprise is one such data mining solution, but it is a step above the rest because its Customer DNA Profiles enable organizations to offer an exceptional customer experience through timely, relevant, and personalized offers that engage customers in the right way every time.
Competition for savvy consumers is pushing organizations to use data mining software to meet customer expectations for personalization and outstanding customer experiences. As a result, enterprises are becoming customer-centric across nearly every vertical. It’s important to note that traditional business analytics tools and data management solutions that keep data in silos fall short of providing insights into the heart of what customers really want.
Traditional solutions limit an enterprise’s view of the customer, leaving them to lump customers together into broad segments and limiting the amount of personalization they can offer. There is still some amount of guesswork involved in using these outdated solutions, because they lack an individualized view of every consumer.
Fortunately, the days of guessing about customer behavior are over, thanks to NGDATA. With advanced data mining tools and software like Lily Enterprise, organizations have the ability to truly know their customers and grow their business. Lily Enterprise is the data mining solution that builds individual Customer DNA Profiles in real time, delivering more personalized customer experiences.
Learn more about how Lily, a comprehensive data mining software solution from NGDATA, can help you gain deep insights into every individual customer. Contact us via email or phone to talk with an NGDATA representative today.
Only Lily offers consumer intelligence solutions with the real-time, actionable, customer-level insights that enable enterprises to excel in today’s competitive environment. Lily is the data mining solution that connects all of your data sources, eliminating the constraints of data silos. This results in comprehensive, individual Customer DNA Profiles that enable your organization to deliver a highly personalized customer experience for each customer, including targeted decisions based on accurate predictions that use each customer’s unique history to determine anticipated action.
When you choose to enlist your demographic-level data, Lily is ready to serve, giving you the ability to compare individual customers to larger customer sets that you define. The difference, though, is that unlike ordinary data mining tools, Lily Enterprise does not limit you to evaluating an individual consumer solely based on broader classifications.
Learn more Lily, a highly effective data mining tool from NGDATA. Or, get in touch via email or phone to talk with an NGDATA representative about how Lily informs some of the world’s leading customer-centric enterprises.
You will know your customers better than ever with NGDATA’s data mining solution, Lily Enterprise. Break down your silos and get the single customer view you need, consisting of thousands of descriptive, calculated, and industry-specific metrics that lead to the detailed record of each customer’s behavior, with Lily’s Customer DNA Profiles.
When you accurately predict future behavior through the unprecedented visibility afforded by Lily Enterprise, you can reliably boost both customer retention and satisfaction. And, you can take advantage of Lily’s instant notifications by knowing exactly when an individual customer is likely to churn, so that you can respond proactively with rapid action for a more favorable outcome. Along those same lines, your organization will be able to identify individual prospects who are most likely to convert and then strategically focus your teams’ efforts on crafting marketing and sales plans to deliver the right message to the right consumer at the right time.
Choose Lily Enterprise, the best data mining software solution for modern, customer-centric enterprises. You’ll soon realize that you are doing business in an entirely new, smarter way, thanks to the real-time insights derived through the most effective data mining tools and techniques.
NGDATA helps brands in data-driven industries, such as financial services, telecom, utilities and hospitality, to drive connected experiences. Our Next Generation Customer Data Platform, Lily™, puts people at the center of every business via Lily’s Customer DNA, which continuously learns from behavior to deliver compelling experiences for companies, such as Belfius Bank, Innogy and Telenet. NGDATA is headquartered in Gent, Belgium and has offices in the United States, Europe and Asia-Pacific.Learn More...