Question

Discuss any four characteristics of customer analytics. If you are the shop manager of a supermarket and you are allowed to install some measurement devices, what types of customer analytics will you collect?  

Answer 1

Four characteristics of customer analytics are as follows:

• Targeting customers: It targets customers across all the channels. Moreover, it analyses customers' characteristics in various ways through which a product or service can be distributed.
• Customer assessment: It assesses and understands customers' behavior concerning brand to understand whether the customer is satisfied. It is achievable through a combined effort of quantitative and qualitative analysis.
• Consumer engagement: It enhances consumer engagement maintaining alignment between the time and channel.
• Churn date prediction: Customer analytics can predict the churn date. Hence, it takes action to improve consumer value.

Being a manager of a shop in a supermarket, one should select descriptive analytics. Reasons for adopting descriptive analytics are as follows:

• It uses a full range of customer data to analyze customer details
• It gives an accurate picture of customer behavior
• Strategic decisions can be made based on historical data about the customers