Value Walk: using Data Analytics to Keep Customers Happy in a Tight Economy
As businesses struggle to keep customers satisfied during a tough economic climate, data analytics can provide insights to keep customers happy and loyal.
Retail and service-based businesses are hit particularly hard by rising operational costs due to inflation, making it more challenging to maintain profitability. Data analytics tools can provide businesses with real-time insights into customer behavior, inventory management, and other metrics to help make informed decisions and drive long-term success.
“Collecting and analyzing customer feedback is critical for any business, especially in a challenging economy. Leveraging data analytics solutions like HappyOrNot’s smiley-faced terminals allows companies to understand what is happening from the customer’s perspective in real-time, from opening to close. Having this information enables quick action to improve operations and delight more customers,” says Michael Bradford, Head of Sales, Americas at HappyOrNot
Companies can also collect and analyze data on customer preferences and feedback to gain valuable insights into what their customers are looking for and how they feel about their products and services. Data analytics tools can provide a holistic view of a business’s operations, customers, and market trends.
Companies can leverage cutting-edge technologies like artificial intelligence and predictive analytics to provide even more powerful insights and recommendations. By understanding what brand messages and experiences resonate with customers, companies can focus on the most effective tactics rather than wasting resources on strategies that may be less impactful.
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