NICF- Customer Analytics

This is a course designed to help participants understand and analyse their existing customer base across the customer life-cycle from acquisition to retention and develop strategies to reach out to them to deepen the relationship. Overall customer management framework are taught. Participants learn to apply analytical techniques that help in segmenting, profiling and ranking customers on various metrics. They also learn to how to reduce data volume by dimension reduction techniques, handle various types of behavioral data in a structured manner for creating analytical tools for customer management.

This is a hands-on course that teaches you how to use different analytical techniques to solve different business objectives. Topics will be taught using practical workshops using software like SPSS Statistics, SPSS Modeller, JMP and Excel.

Key Takeaways

At the end of the course, participants will be able to:

• Understand the customer management life-cycle and the infrastructure to manage it.
• Apply dimension reduction techniques (PCA/Factor analysis) to identify core dimensions/factors based on various customer characteristic/ behaviour/product holding variables to arrive at efficient solution for decision making. This method also helps to manage large number of variables for other analytics techniques like prediction etc.
• Develop multivariate customer segmentation using all types of variables/features or factors to design and execute marketing strategies profitably. For example, the most profitable customer segment might receive special treatment than other customer segments
• Apply customer profiling so that customer segments are better understood, behaviourally (e.g. how much they spend per month, how long have they been buying from the business) and touchpoints they access for appropriate strategy formulation for targeted marketing for deepening relationship
• RFM analysis both for segmentation and other customer development strategies

What Will Be Covered

• Introduction to Customer Management Framework
• Customer Life Cycle
• CRM infrastructure and strategy
• Dimension Reduction Techniques
• Segmentation using Cluster Analysis
• Persona Modelling (Profiling) and RFM Analysis