For 60 years, marketers have been building products that anticipate the needs of consumers. The difference now is that we have the data and tools to understand these needs in various contexts. Customers have been segmented by groups for more than 10 years, but Big Data allows us to classify individual customer needs and act in real time.
In order to get all the information, you should focus on big data rather than your customers. When it comes to understanding and predicting consumer behavior, your big data analytics reports will have better answers than your customers. That’s for sure.
Predicting customer behavior can make your life less stressful by seeing trends ahead of time that you can prepare for, can make customers feel attended to by having customized options or recommendations, and is most likely something you can implement to start out with using your existing data even if you’re not doing it yet.
Google Now’s Google Cards are a great example of how data is already being used to understand customers’ needs before they search. Google Cards works on Android phones to search existing user content, in addition to other data patterns including geographic location, to anticipate what the user will need.
Most companies already have what they need, but they’re either not capturing it or aren’t using it in the correct way. Businesses have access to customer behavior data as well as social and transactional data. This gives them the tools to understand their customers on a much deeper level.
It reminds me a complete Big Data ecosystem that we have implementation for a large toy and game manufacturer enabling them with improved understanding of customer preferences and buying habits. Read more…http://www.bodhtree.com/analytics-predict-customer-behavior.php
Now, who said a good business couldn’t get better?