In simple terms, customer targeting is looking at people relevant to your brand and product/service you sell, seeing them as potential customers, and targeting them with your ads and campaigns to transform the lead into an actual customer.

Organizations usually have an internal sales and marketing funnel that maps the complete customer journey, from the first time they come across their ad/brand to when they make their first purchase. After this, they sustain that customer and ensure they return to the organization.

Companies have had various strategies to execute these funnels, but none of them were as efficient or accurate as of today’s methods. We’re in an era where tools such as business analytics can elevate our marketing strategies, sales funnels, and customer targeting to new heights.

If you’re a small business, startup, or a large company, this article is just for you. I will be taking you through how business analytics can help your company target customers better, increase the accuracy of targeting strategies, and thus generate more business.

Data Aggregation

This part essentially involves collecting data from all kinds of sources. This can be social media, information about your company’s website, sales data, etc. The idea is to gather all data of your customers and organize them in one place so that you don’t have to look at different platforms for different kinds of data. Instead, everything is right before you.

Data Mining

Once data aggregation is over, the process of mining begins. It is essentially looking at data sets for different kinds of information. For example, the information could be about looking at customer behavior, tying where they come from to the type of purchases they make, or even looking at consumption patterns.

Mining uses numerous mathematical and statistical techniques such as regression, clustering, etc. This means it’d be much easier, more efficient, and accurate to use tools that can execute these processes for you instead of doing it yourself.

If you’re a medium or large business, it would be impossible for you to carry out these tasks without tools because the sheer volume of data would be overwhelming to any person.

Data Visualization

This is like the final step of analytics, where all the relevant information and insights you’ve derived through the above processes can be seen in one place in a visual format like graphs, charts, etc.

This gives you a holistic picture because looking at text and numbers can get overwhelming. So visualization essentially represents information in an easily understandable format and instantly gets your attention in places that need it.

This is merely an overview of how different facets of business analytics can help your business, and when you delve deeper, the number of processes, tasks, etc., becomes more complex. This is why you have platforms such as Decision Minds at your disposal. They offer numerous benefits to your organization, and some of the crucial advantages are listed below: