Customer 360: Revolutionizing The Traditional Approach?

In the era of data-driven decision making, analyzing data is becoming more essential and critical for every organization. Traditional companies had limited information with the structured way of capturing data, processing and prescribing.

Today, in the technology-driven era we are exposed to various information bursting from the traditional data source and nontraditional data source which are more personalized thus can't be overlooked by analytical perspective.

 Now, here is a catch! aggregating, processing and analyzing become challenging to achieve. Companies these days are using an array of tools including customer 360 to aggregate structured and unstructured data.

Then what is customer 360?

In customer 360 help an organization to view customer holistic by understanding his/her buying pattern, a way of living, spending, locality he lives in etc. This information will be the building blocks of the analysis of the customer.

The main objective of customer 360 is to understand the customer in every single aspect and offer him the plausible product or service or run a loyalty program to retain the customer.  

You aggregate every information from the various source by collaborating the structured and unstructured data using which we can perform various type of analysis.

Customer profiling with Customer 360

Customer data is every ware and Customer 360 enable you to gather these data. If you are like most marketers, your data is stored in various CRM tools, customer applications, and sales teams.

Achieving a unified 360 requires some systematic approach. It requires consolidation of data starting from the basic things like accurate name, contact, id. Those profiles will be enriched with information like locality, customer preference and other information which are available. This information will align with marketing analytics and define the strategies to tackle customer.  

How customer 360 help my organization?

Using the collaborated data we can perform analysis to do better predictive analytics and prescriptive analytics i.e. customer segmentation, running effective loyalty programs, perform claim analytics, fraud detection, retain customers and so on.

Which indeed help us in direct marketing and improve the ROI, help us to identify the most profitable customers, identify new market opportunities as per organizational requirement.

Conclusion

Various organizations use customer 360 to understand and analyze and target which indeed optimize the organizational expenditure on identifying the prospective clients.

Customer 360 has revolutionized the traditional ideology of data and had contributed aggregating data for a whole new level of customer analytics. Which enables you to expert strategies and execution.