In the ever-evolving landscape of modern business, embracing the potential of customer data analytics has transitioned from an option to a strategic necessity. In a digital era driven by information, companies that effectively harness the wealth of data gain a significant competitive advantage. Customer data stands as the lifeblood of any thriving enterprise, offering a treasure trove of insights waiting to be discovered. According to PwC Global Consumer Insights Pulse Survey (June 2023), using comprehensive customer analytics to personalize experience based on the preferences, purchase history and browsing behaviour improves shopping experience, increases relevance and boosts future spend. This is how company can not only meet but exceed customer expectations, leveraging robust customer data analytics to enhance satisfaction, stimulate innovation, optimize operations, and unlock pathways to sustainable growth.
At the forefront of this revolution is our groundbreaking Customer Portfolio Analysis tool - an innovative automated solution designed to provide a comprehensive review of your Organisation’s customer purchasing behaviors and associated insights. With customer analytics seamlessly integrated into the fabric of your operations, you can ascend to new heights, empowering your Organisation to outperform competitors and remain agile in a rapidly changing market landscape.
Customer Portfolio Analysis at a glance
Customer Portfolio Analysis is designed to help analyze the entire portfolio of identifiable customers of your Organisation over its entire lifetime. Being a customer centric analytics, it puts customer in the center, dividing customers based on their monetary value, which allows to focus on their purchasing behaviour and its changes over time.
With the Customer Portfolio Analysis you can:
- identify key behavioural patterns and trends impacting the top and bottom lines
- capture and highlight insights to further drive marketing, sales and wider strategic actions
- outline areas and ways for enhancing customer acquisition, development and retention
Step 1. Data and information gathering
For the goals of this analysis you do not need to additionally generate or gather any data, but leverage the data you already have:
- customer ID
- transaction date
- transaction amount
- SKUs purchased, their quantity and price
- categories purchased
- product margin
- transaction channel (web-site, store, app) etc.
Step 2. Conducting the analysis
Customer Portfolio Analysis covers the following dimensions:
- Review of key performance, behavioural and profitability aspects pertaining to customers active in the recent year
- Collating performance, behaviours and profitability of customers active in the last 2 years
- Cohort analysis of the whole portfolio across customers acquired in different years
- Focal review of quarterly cohorts of customers over the last 2 years
- Analysis of customers’ behaviour across product categories
Step 3. Summarizing results and takeaways
With the help of interactive Power BI dashboards accessible online you get access to key analytical results of the analyses performed for further consideration and delve in. On top of that, you receive a summarising document containing key finding and observations captured (patterns, interrelationships, anomalies, trends etc.) as well as areas to consider exploring / analysing further.
A few pivotal questions that the Customer Portfolio Analysis can help to answer:
- What is the actual number of customers your Organisation engages with?
- Who are your most and least monetary valuable customers?
- Do you distinguish between one-time buyers and “returners”?
- Do existing or newly attracted customers mostly contribute to your profit?
- How is your customer base distributed amongst sales channels?
- What are the most and least profitable channels?
- In which categories do your most valuable customers usually purchase?
- Which product categories generate most of your profits?
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