Enhancing Customer Experience with Real Time Marketing Analytics

Abstract

In today’s competitive business environment companies have realised that marketing decisions cannot be made in a vacuum without paying due consideration to the information relating to their customers, channels distribution and channel partners. Hence they have started focusing attention on ways of enhancing customer satisfaction with the help of real-time marketing analytics. The biggest advantage of marketing analytics is that it helps in capturing from everywhere customer feedback by identifying ways in each customers engage, what they try to accomplish and also highlight areas which act as a source of friction that need to be focused upon. This study tries to know the extent of importance given to marketing analytics, analyse the various benefits of marketing analytics, know the real time business drivers of marketing analytics, understand the type of business value creation brought about by marketing analytics and know about the steps taken to implement data analytics. the results have shown that only 16% of the companies have reached the advanced level with respect to consolidated a real-time dashboard of multiple sources of internal and external data, and are using the same to make adjustments or in making prompt responses to customer preferences as and when required and even though the value of using real-time marketing analytics has been proved it is seen that not many companies are have not yet started realizing the true business value of marketing analytics.