RetailBiz, Australia: Cognizant’s Head of Products and Resources, ANZ, says Big Data is the Key to Building a Customer Footprint

“Customers are eager for increasingly authentic relationships with their favourite brands, including greater convenience and better targeted offerings,” writes Guarav Sharma. “Data analytics allows businesses to give these sought-after experiences to customers, promoting loyalty and establishing a competitive advantage in the tight race for shoppers’ dollars.” Excerpts:

“Leveraging consumer data is critical to maintaining and building a customer base as outdated methods of customer profiling quickly become obsolete.

Using data to build customer profiles will converge the numerous channels by which a customer interacts with brands — social media, online, entertainment and leisure preferences, as well as physical movements — and integrate them to illustrate the full customer journey and profile, personalised to each individual.

Leveraging such real-time, multidimensional profiles that capture all footprints customers leave will ensure retailers will be able to make clear sense of their customers’ data, derive meaning from it, and act upon it.

It is up to companies to leverage the data systems available, developing strategies to engage with and understand their consumers, and build multidimensional customer profiles which improve the relationship between company and consumer. The natural exchange of data will then continue to be of mutual benefit.”

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