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Customer Analytics in Retail with 1KEY BI |
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| Why Customer Analytics in Retail?
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- What are my company's segment-wise top revenue-generating customers?
- What are cross-selling / Up-selling opportunities?
- Which customer segment has have contributed most to revenue growth?
- Which type of customers look for discounts?
- Which types of customers have highest number of returns?
- What types of customers are most profitable?
| Customer Analytics in Retail with 1KEY BI lets you |
- analyze customer types and profile individual customers
- monitor and compare trends in customer type, customer base size, buying, contribution to revenues, product mix, customer ranking, profitability, etc.
- evaluate customer profitability and cost to serve
- view buying patterns, average order sizes, and number of purchases in a specific time period
- monitor customer type and customer-specific aging schedules by number of transactions and total dollars
- assess customer satisfaction by number of adjustments, delinquencies, returns, shipping delays, buying frequency, and trends
- distribute customer information across the organization for operational management and reporting and analysis needs
- provide self-service or on-demand reporting and analysis
| Advantages of using Customer Analytics in Retail with 1KEY BI |
- Derive critical information on customer behavior
- Sort out critical customer details like top revenue generating customers, most profitable customers, purchase trends at different customer profile level, percentage of return customers and also customer segment with potential bad debt risk
- Work on key areas appropriately for effective marketing strategy with the information generated
- Group out the best customers based on factors such as revenue, purchase frequency and services costs and concentrate activities on retaining and increasing number of high-value customers
- Sort out customer buying trends and patterns, return rates, time to pay & other factors to judge customer satisfaction issues & take appropriate action before they affect your bottom lines
- Identify fast-moving products and cross-sell scope to align production and marketing force to take benefit of this information in assessing product performance over a segment of customers
- Understand customer purchase patterns and trends in various market segments and concentrate on weaker areas to improve sales
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