Four Techniques to Improve Analytics Based on Customer Knowledge
Daniel Burstein, MECLABS, and Benjamin Filip, MECLABS
Too many businesses today are product-focused. Many think, "If we have more products to sell, we'll make more money!" That is true if, and only if, the people actually want what you're selling. Instead of starting with a product and finding someone to sell it to, it is better to begin with a group of people, and then figure out what to sell them.
What do they want or need? The best way to determine what your customers want is by studying their behavior.
Yes, this even surpasses asking people what they want, because people often don't know what they want. For example, everyone says they want to eat healthier, but very few actually change their diets. You can gain a lot of insight about your customers by digging into your database(s). We’re not talking about mining the big you hear about in every IBM commercial, but about the simple data you probably already have at your disposal. That data is like a diamond in the rough.
Daniel Burstein, Director of Editorial Content, MECLABS, and Benjamin Filip, Research Manager, Data Sciences, MECLABS discussed how you can use the data you already have to:
Learn more about who your customers are and how to best interact with them
Identify areas of your website that may be hurting your conversion rate
Decide which changes will have the most profitable effect
Determine which type of modeling makes sense for what you're trying to learn
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