FEATURE : ANALYTICS
Obtaining meaningful insights through data can be a difficult area to navigate but this invaluable information can support a business ’ marketing approach and provide a better understanding of its customers ’ behavior . Nick King , President and Chief Product
Marketing Officer with Snowplow , tells us how organizations can best use prediction software to help make informed decisions and realize their future goals .
wWhat challenges are businesses experiencing when it comes to understanding their users ’ behavior through data creation ?
Behavioral data describes how customers have interacted with a business , which can in turn inform businesses as to how they should work with customers . Accurate data is used to drive more customizations in Artificial Intelligence ( AI ) and Machine Learning ( ML ). cleansing , and preparing data for analysis rather than generating insight and value for their business .
Snowplow helps to remove that complexity of data preparation , by enabling businesses to purposefully create data for the data applications . Snowplow makes it simple to manage things like compliance , privacy and ensuring accurate and informative data , changing how businesses manage behavioral data across their customer base .
Why is it so important to understand users ’ behavior today ?
As a buyer , you might start online , using multiple touch points to go back and forth to a website . Then you might download a business ’ Augmented Reality app , try on some of the clothes or glasses before going into the store to purchase .
That is typical behavioral data , but it is difficult to track from a digital perspective . If you can ’ t fill in the nondigital gap you may make assumptions that the VR app isn ’ t working , for example , but that could be the main factor that commits people to a purchase .
Another element is that data has grown so much due to how customers are interacting with businesses and how businesses work with their partners .
Businesses are unable to utilize the power of behavioral data as they rely on the manual process of extracting data from their existing SaaS applications . These applications include analytics platforms and customer data platforms ( CDP ) feeding data to their warehouse or lake .
Extracted data was never designed to be utilized outside the platforms they were generated in leading to significant and labor-intensive data-preparation in advance of deployment .
From our own research report we know data practitioners spend 26 – 50 % of their time finding ,
Being able to link events in the user ’ s behavior is important and when you have more sophistication in collecting and reading that data , your business intelligence is far more accurate , allowing you to build interesting use cases around AI and ML .
Customers also now demand and expect to have a great user experience , so businesses need to meet these expectations through using data collection for their AIs to result in a unique and effective user experience . That ’ s why it ’ s important to understand users ’ behavior and the reasons we set into motion building a solution that provides everyone with access to this type of technology .
Utilizing predictive models to achieve competitive advantage
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