Strategy: Customer Analytics: Are you Profiting from your Data?

They want more data, even as they fail to mine what they already have.Miers-Busch, W’1885 Professor, Professor of Marketing Raghuram Iyengar, who directs Wharton’s Customer Analytics program, says a reason for the disconnect is a failure to link data to business decisions.  “Numbers by themselves are not where the real value lies,” he explains..“Business leaders need to know what they want from their data, and have an analytics team in place that can help them find it..There has to be a training effort with all stakeholders—the organization needs to be educated about what kinds of data we have, what we need, and what we can do with it.”Bray, who attended the Wharton program earlier this year, says part of her job is to get that message across, which can be challenging in a legacy company..Gut is not wrong—it’s just slow.” Customer Analytics helps participants make the connection between the numbers and the narrative, making it easier for them to help others understand the data they are collecting and the kinds of business outcomes they can improve with their use.Bray says the program has helped her begin to address a key challenge..They know we have a lot of data on our customers, but they need to know how to make sense of it.. More details

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