The Guide to Data Analytics

Data analytics refers to qualitative and quantitative techniques and processes used to enhance productivity and business gain. Data is extracted and categorized to identify and analyze behavioral data and patterns, and techniques vary according to organizational requirements.

Data analytics (DA) is the process of examining data sets in order to draw conclusions about the information they contain, increasingly with the aid of specialized systems and software. Data analytics technologies and techniques are widely used in commercial industries to enable organizations to make more-informed business decisions and by scientists and researchers to verify or disprove scientific models, theories and hypotheses.

Customer Relationship Management –

In customer relationship management (CRM), the customer life cycle is a term used to describe the progression of steps a customer goes through when considering, purchasing, using, and maintaining loyalty to a product or service. Marketing analysts Jim Sterne and Matt Cutler have developed a matrix that breaks the customer life cycle into five distinct steps: reach, acquisition, conversion, retention, and loyalty. In layman’s terms, this means getting a potential customer’s attention, teaching them what you have to offer, turning them into a paying customer, and then keeping them as a loyal customer whose satisfaction with the product or service urges other customers to join the cycle. The customer life cycle is often depicted by an ellipse, representing the fact that customer retention truly is a cycle and the goal of effective CRM is to get the customer to move through the cycle again and again.

Email

Email newsletters are an email communication sent out to inform your audience of the latest news, tips, or updates about your product or company. They are often used for a variety of purposes–and they come in many different forms. Some are weekly digests of content, some are quarterly organization updates, and others promote new products. The point of email newsletters is to keep subscribers connected, engaged and informed about what’s new with the organization or business (and often to drive sales.)

EXAMPLE

UNICEF uses email newsletters to stay top-of-mind with donors and to update their supporters about the organization’s most urgent needs.

Social Analytics –

One of the most important customer service practices is measuring social media analytics, or gathering information and feedback about your company from blogs and social media sites and analyzing it to help make business decisions. These analytics might fuel goals like increasing revenue, reducing customer contact, or getting feedback on products and processes

Surveys and polls –

A poll allows you to ask one multiple choice question. Participants can choose from among answers that you predefine. You can restrict voters to select just one answer to your question or allow them to choose multiple answers. A survey allows you to ask multiple questions across a wider range of question types. You can ask for a comment, an email address, a name, an address etc., as well as multiple choice questions.