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Discovering new trends

Data analysis: the key to understand customers' behaviour

  • Download English version 502.61 KB
  • Download Italian version 494.73 KB
September 3rd, 2019
Advanced analytics
Big data
Data Science
Data technology

Data analysis and the ability to manage information about customers in real time is essential to develop successful business strategies. Implementing a Costumer Data Platform (CDP) and Data Governance tools allows placing customers at the core of the strategy, thus increasing business.

Understanding customer preferences and behavior patterns is a requirement nowadays. Companies need to manage homogeneously the information obtained from different sources. That is why data analytic tools are critical to understand their needs and wishes. However, according to the Observatory Big Data Analytics & Business Intelligence of Politecnico di Milano, the current scenario is substantially different. Main Italian companies are far from being homogeneous in terms of data analysis:

  • 60% have relationships involving the exchange of data from different external sources.
  • In contrast, 40% use only internal data. This is a clear symptom of the delay in the capacity to make use of new data sources.

The solution: Customer Data Platform and Data Governance

Having a Costumer Data Platform (CDP) and implementing Data Governance solutions can solve this issue by simplifying the process of collecting and managing customer information.

  • A CDP uses advanced technology, such as deterministic algorithms and predictive models based on Artificial Intelligence (AI) and Machine Learning (ML). The platform aims to consolidate information from different sources.
  • Data Governance encompasses the fundamental processes to ensure data quality, tracking data in business processes and mapping their stages.

Solving the lack of homogeneousness in data analysis is possible with the implementation of these solutions, since:

 

  • They allow companies to make better decisions and to receive predictive recommendations adapted to their specific contexts.
  • It is possible to reach a real time processing. This is a common need: the Observatory research reflects that 44% of large Italian companies have implemented plans to speed up analyses (with update frequencies of 15 and 30 minutes).

When is it possible to collect the first benefits from data analysis?

It only takes 4-6 months to be able to see the positive results from a Customer Data Platform; whereas the total implementation of the CDP may take a year.

Is important to mention that security is essential in these cases, in accordance with privacy provisions to respect the GDPR.

Helping companies reach the next level in data analysis

In the following report, we reveal further key aspects about the analysis of customer’s data, some international success cases, as well as the benefits of implementing CDP & Data Governance tools.

Download Report in English version 502.61 KB Download Report in Italian version 494.73 KB
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The authors
Eros Buffo
- Advanced Technologies Manager Minsait
https://www.linkedin.com/in/erosbuffo/?originalSubdomain=it
Roberto Carrozzo
- Business Intelligence and Business Analytics Minsait
https://www.linkedin.com/in/robertocarrozzo/
Sergio Scornavacca
- Industry & Consumer Markets Director Minsait
https://www.linkedin.com/in/sergioscornavacca/
Ivano Chiodini
- Senior Presales Consultant Southwest TIBCO
https://www.linkedin.com/in/ivano-chiodini/
Giandomenico Panebianco
- Alliances & Partnership South Europe TIBCO
https://www.linkedin.com/in/giandomenico-panebianco-741889/

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