Dublin, April 07, 2023 (GLOBE NEWSWIRE) -- The "Global Customer Intelligence Platform Market Size, Share & Industry Trends Analysis Report By Data Channel, By Vertical, By Deployment Mode, By Organization Size, By Component, By Application, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Customer Intelligence Platform Market size is expected to reach $8.3 billion by 2028, rising at a market growth of 28.1% CAGR during the forecast period.
Key Market Players
- IBM Corporation
- Salesforce.com, Inc.
- Microsoft Corporation
- Google LLC (Alphabet, Inc.)
- Oracle Corporation
- Accenture PLC
- SAP SE
- Informatica, LLC
- Adobe, Inc.
- SAS Institute, Inc.
Customer intelligence (CI) is gathering and analyzing specific customer data to determine the most effective methods to communicate with each client. Customers reveal information about themselves every time they connect with the organization in today's digitally driven environment, including their interests, demographic information, preferences, requirements, and wishes.
Marketers that discover methods to use this untapped resource in their customer data can interact with each consumer in a manner that makes them feel valued, appreciated, and understood.
This results in goodwill, improved brand impression, word-of-mouth advertising, and enduring consumer loyalty. To suggest that understanding customer intelligence is essential for every organization to compete - and grow effectively - in this era of strong online competition and communications overload is not an exaggeration. To enhance customer experiences and promote corporate objectives, enterprises may use the Customer Intelligence Platform to collect, analyze, and act on customer data.
To give a complete picture of the customer journey, customer intelligence platforms enable businesses to gather and store consumer data from various sources, such as web analytics, customer relationship management (CRM) systems, social media, and others.
There are several drivers, including the growing desire for tailored customer experiences, the transition to data-driven marketing and advertising, the increasing requirement to give an omnichannel experience, and the expanding need to acquire a holistic perspective of consumer data.
As businesses increasingly understand the value of customer data in guiding strategic choices and enhancing customer experiences, the market for customer intelligence platforms has expanded recently. The sector is increasing because of the rising need for actionable consumer insights and the desire for individualized customer experiences.
Market Growth Factors
The requirement to have a comprehensive understanding of consumer data
In order to maximize the value of vast volumes of consumer data, businesses must build an actual 360-degree image of their customers by integrating what they currently know and may infer about them.
The core of the customer intelligence platform is constructing a single unified customer profile for each customer using profile, transactional, and behavioral data from across the companies. So, the adoption of customer intelligence platforms is driven by the growing requirement to have a comprehensive perspective of consumer data.
Increased use of consumer intelligence technologies to track market developments
In order to create richer, more fruitful interactions with consumers and enhance decision-making, marketers acquire customer intelligence (CI) and analyze data about the specifics of the activities of their target market.
Gathering customer intelligence enables organizations to access crucial data, gain a competitive edge, increase client loyalty, and increase profitability in today's customer-centric environment. Companies may use predictive and prescriptive analytics to improve consumer choices and adapt their strategies to changing market conditions.
Market Restraining Factor
Failures of organizations to utilize consumer data effectively
Businesses now have access to an unprecedented quantity of client data, but they are often unsure what to do with it. Since firms still utilize outdated systems that make it impossible to fulfill their data integration, standardization, and quality objectives, this data flood has made things worse for businesses.
Another problem that often thwarts attempts to develop a single customer perspective is poor data quality. The time and effort spent creating a single customer perspective is only helpful with accurate and trustworthy data. These elements could be detrimental to the market expansion of consumer intelligence platforms.
Scope of the Study
By Data Channel
- Web & Email
- Social Media
- Mobile
- Call Centers
- In Store
- Others
By Vertical
- BFSI
- Telecom
- Travel & Hospitality
- Retail & eCommerce
- Healthcare & Life Sciences
- Manufacturing
- Energy & Utilities
- Media & Entertainment
- Others
By Deployment Mode
- Cloud
- On-premise
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Component
- Platform (without Services)
- Services
By Application
- Customer Data Collection & Management
- Customer Behaviour Analytics
- Customer Segmentation & Targeting
- Customer Experience Management & Personalized Recommendation
- Customer Retention & Engagement
- Omnichannel Marketing & Others
For more information about this report visit https://www.researchandmarkets.com/r/45eeg3
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