Yesterday, we discussed how customer behavior data is hard to interpret and the older technology associated with analyzing customer behavior data has been lackluster. Today, we’ll discuss more survey results from the SMS Research 2020 Retail & CPG Customer Behavior Survey.
Here’s what our respondents are spending their current time on. We can see that web analytics ranks high as a current solution folks have in place, but few companies are actually analyzing their business data at only 11% or 21%, depending on the vertical.
“We collect a lot of data on many different tasks within our operations and in our customer-base, [but] do not fully utilize it to achieve what we can. The biggest issue we face is not, not wanting to make these changes, but that we have hundreds of projects going…so prioritization is awful.”
The survey results also showed that current priorities are storing data or collecting data; well over the prioritization of identifying or monitoring customer behaviors and optimizing spend.
Tomorrow we’ll discuss why the frequency of receiving data isn’t a one-size-fits-all solution.
Read more survey results here.