Analytics
News, events, thought leadership and more.
In my previous blog in the Customer Analytics series, I discussed the last challenge we uncovered in our customer analytics survey. In this installment we’ll gauge people’s perspectives about the future of Customer Analytics based on where they are spending their budget.
There are a lot of analytics success stories in addition to the VF and Southern States case studies described earlier. Ford is doing some amazing things with customer data in the automotive industry, as is Kroger in the supermarket industry, and then Time Warner Cable Media in the communications industry. These are just some of the many companies doing some very innovative thing with Customer Analytics, and more examples can be found on our video testimonials page.
As you can see in the accompanying chart, companies are embracing analytics and continuing to place their bets on analytics technology, employee skills, and external resources. The numbers inside or near the bars represent the percentage of respondents who are adjusting their spend in these three analytics areas. The “Average Increase” and “Average Decrease” numbers are simply a measure of how much of a change they’re making.
For example, 95% of the people reported that they’re planning to spend more on analytics technology next year, and the average increase in spending is 21%. Clearly this is a necessary reaction – especially as the volume and variety of Big Data grows at leaps and bounds. And, I expect these numbers to climb, especially as organizations sort out some of the challenges I mentioned earlier.
In my final blog in the series, I’ll offer some recommendations about what you can do immediately to overcome the challenges I’ve outlined earlier, and turn your customer data into one of your most powerful assets. Stay tuned for next week . . .
Customer Analytics Blog Series: Perspectives from Industry Leaders
| Part 1 – Customer Analytics Blog Series: Introduction |
| Part 2 – Customer Data and Insight Can Take Many Forms |
| Part 3 – Analytics Provides Input to Strategic Operations |
| Part 4 – Getting and Working with Data is a Problem for Many |
| Part 5 – Line-of-Business Users Want Access to Easier Tools |
| Part 6 – Big Data Should Make ROI Easier to Measure |
| Part 7 – Where are Companies Investing in Analytics? |
| Part 8 – Conclusion and Recommendations |
Bob Laurent
Director of Industry Marketing
