Customer Analytics Market Scope
Today many of the companies are feeling the heat from more discerning and often less loyal consumers. The globalization, social media, economic uncertainty, or product commoditization are challenges to these companies. Customer Analytics is used as a powerful strategy by the companies that enables them to translate interactions and transactions about their customers. These analytics has potential benefits that include increase sales to new and existing customers, lower customer acquisition and retention costs, reduce customer churn and increase loyalty, improve the channel mix to lower cost to serve, and increase sales force effectiveness by targeting. The demand for cloud-based tools and the need to improve customer satisfaction has increased the growth of the global customer analytics market.
The market study is being classified, by Application (Brand Management, Campaign Management, Churn Management, Customer Behavioral Analysis, Product Management and Other) and major geographies with country level break-up. According to AMA, the Global Customer Analytics market is expected to see growth rate of 19.51%
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Customer Analytics market throughout the predicted period.
Google (United States), Microsoft (United States), Adobe (United States), SAP (Germany), SAS Institute (United States), Teradata (United States), Oracle (United States), Salesforce (United States), Mixpanel (United States), Manthan System (India), Second Measure (United States), Absolute Data (United States), NGData (Belgium), Customer Analytics (United States), Neustar (United States), NICE Systems (Israel), Segment (United States), Calibremind (United States), Clarity Insight(United States) and Amperity (United States) are some of the key players profiled in the study.
AdvanceMarketAnalytics has segmented the market of Global Customer Analytics market by Type, Application and Region.
On the basis of geography, the market of Customer Analytics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In June 2019, Salesforce acquired Tableau, a leading provider of analytical data. This acquisition Salesforce Customer 360 platform that enables customers to make smarter decisions.
In February 2019, IBM launched BUCKiTDREAM, a new loyalty rewards commerce platform with the aim to connect consumers using Watson Marketing to provide enhanced personalized brand engagement experiences.
- Adoption of Technologies such as Artificial Intelligence, Machine Language, and Business Process Automation
- Rising Demand for Improved Customer Satisfaction
- Increase in Social Media Concern to Address Customer Behavior
- Reduced Advertising, Campaigning, and Marketing Costs
- Greater Collaboration Between Departments for Better and Faster Decision Making
- Data Security and Privacy Concern
- Inability to Understand Customer Journey
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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