How Stats Assist You in Understanding Your Customers Better Introduction Understanding your customers is the key to any successful company. Nowadays, with facts aplenty, statistics and data analysis are incredibly effective tools for analysing customer wants, needs, and behaviour. This article illustrates how statistical analysis turns raw facts into smart action. It allows companies to build firmer customer relationships and grow. Every time a customer touches your brand, buys something, or clicks on a link on the internet, they generate data. Without ways to make sense of the data, it's just that: data. Statistical computer software sifts through the stack of information. They reveal patterns and trends you'd never even catch. Studying customer data up close is more than having an idea of who buys your stuff. It's having an idea why they buy, when they buy, and what they'll need next. When businesses use data analysis, they no longer make assumptions. They make ...
Why Your Marketing Strategy Needs Machine Learning Now Introduction Marketing for decades depended on guesswork and general assumptions. Things are however changing with the advent of machine learning (ML), focusing attention away from guesswork to data-driven decision-making. Machine learning algorithms are no longer tomorrow's novelties; they're already transforming the manner in which marketers interact with audiences, optimize campaigns, and ultimately drive business outcomes. It's a model proving to be priceless with the ability to personalize, predict customer needs, and optimize ROI. Let's examine how some algorithms are disrupting the game in different marketing fields. Customer Segmentation: Getting to Know Your People on a Deeper Level At the heart of effective marketing is understanding your audience, and it starts with segmentation. Segmentation used to depend on coarse demographics. Now, machine learning algorithms, and K-Means Clustering in particu...