A real-time database differs from a traditional database – while real-time databases use real-time processing to handle workloads, traditional databases contain persistent data that is unaffected by time. At a time when the entire world of business has become customer-centric, it’s become all the more important to improve the customer experience with real-time data.
Importance Of Having Customer Database
The key to a successful business is always the customer database which is a collection of customer information. Which business will not want to have repeat business? By accessing a customer database that has information like personal likings or purchase history can enable a business to tap their customers accordingly to drive further sales.
Certainly, if you do not leverage your customer database then you are definitely missing out on those likely sales. The customer database can help to create brand affinity, induce customer loyalty, and inform the launch of new products. And, that’s where the importance of a customer database lies!
Importance Of Real-Time Data
Outdated data systems can put your business at a disadvantage vis-à-vis your competitors. It can even render you redundant in the marketplace.
That’s why it is necessary to have real-time data to stay relevant. And using this real-time data, you also need to further engage with your prospects using electronic communicating tools like digital signage and data dashboards.
Being appealing to the ‘tech-savvy’ workforce can definitely take you a long way ahead. Real-time data can help you to improve customer service.
Real-time data can help you to track the supply chain – for example, tracking your inventory data of raw materials, available supplies, and requirements; you will be able to foresee the re-order levels. And within the company, if your employees can monitor their own performance, it can help them to make on-the-spot corrections. This real-time data update can only help your business optimize its efficiency further.
How Real-Time Data Can Benefit Your Business
Any good data that is relevant can make a business smart. And, further analysis of this data can make the business even smarter! Let’s cite the example of a real-time Customer Data Platform. It can do wonders for your business.
Built on Adobe Experience Platform, this platform helps you to combine customer data in real-time. The data could be that of known as well unknown customers. Once you access the holistic and up-to-date profiles you are better-off in generating true personalization for your customers.
Better Customer Insights Using Real-Time Data
The major marketing challenges faced by any business pertain how to identify and influence customer attitudes and behavior. Customer real-time data is of no use if you cannot take immediate action on it.
And reversely, you may all the analytical tools at your disposal but it’s no use using it on the wrong data! Let’s find out the different ways to unearth real-time data to know a customer better.
Interactive Website & Email Services to geting Real-time Data
Just analyzing your website to gain insights about your customers is not enough. Being interactive to your website visitors by providing live chat support, getting feedback on chat sessions, inserting feedback forms on your website, calling customers regularly, and leveraging your e-mail services can effectively help you optimize your real-time data.
Identity and Predictive Analytics to Find Real-time Data
Real-time data is important for marketers to communicate with their customers. As customer acquisition is a critical part of the customer life cycle, it all boils down to first identifying a customer. And that’s done using Identity Analytics.
It helps to identify a customer and determine if it’s a new prospect or an existing one. These analytics enables businesses to stop any frauds from taking place going forward. Using real-time data, it’s possible to spot the right customers at the right time.
Coming now to predictive analytics, it enables you to have a better hold over your customer’s behavior. Along with using personalization and targeted marketing campaigns, predictive analytics helps to increase your revenues.
A few link shortening services can be useful as Identity as well as Predictive Analytics tools. Using real-time data along with analytical tools can help you to understand your customers better. It enables us to understand their purchasing patterns, preferences, and other trends.
This information can be used by you later on to enhance the customer experience.
Optimizing Big Data to Access Real-time Data
Big Data refers to data sets that are big and complicated. It is next to impossible for you to deal with such data using traditional software. Big Data needs to be analyzed computationally. It helps to reveal patterns, trends, and associations which relate to human behaviors.
Tapping into Big Data is the best real-time data source you have at your disposal which helps you to understand your customer experiences and behaviors. A few points that a business should take care of when implementing their Big Data strategies pertain to the need to harvest network traffic and embrace customers the way they are.
It’s essential to focus on data quality and not on quantity. A complete picture can be obtained by correlating data captured from your website, smartphones, tablets or computers. That’s how Big Data unravels real-time data that helps you gain customer insights.
The Closing Remarks
We are in a fast transforming digital world where a huge data lies around us, and getting something instant has become the norm! And real-time data is just that – it’s all about delivering information instantly after collection.
The companies that deal in Real-Time Data Services empower businesses across the world by serving their clients in Cloud Computing and Communication. Leverage the power of real-time data now. Help your business connect to the right people – easily.