Business analytics is a must for modern enterprises. Not only is the amount of data being analyzed growing exponentially, but enterprises which have made savvy-use of business intelligence analytics in recent years have contributed to an increase in consumer demand for unprecedented levels of personalization in the delivery of both marketing and services.
Customer-centric enterprises must now rise to the challenge of nurturing customers and targets with highly personalized communications to earn their business, while at the same time grappling with making sense of vast amounts of business and customer data that generally exist in silos. The rise of Big Data has opened many doors of opportunity and, to some degree, leveled the playing field among businesses of all sizes, yet it’s also made the modern business climate more complex than ever before.
As consumers are increasingly informed about the ways enterprises make use of data to influence their behavior, they become more resistant to marketing tactics that seemingly lump them into a broader category – they lose their sense of individuality when they feel as though they’re being treated like a demographic.
The solution is to develop a deep understanding of every customer on an individual-level with technology that goes beyond Big Data and business analytics. It needs to offer consumer intelligence solutions with the real-time, actionable, customer-level insights required to excel in the modern enterprise landscape.
How does your organization tackle the challenges of getting the most out of its business analytics?