Customer intelligence (CI) is defined as the collection of systems and processes for gathering and analyzing information about prospective or existing customers in order to build more effective relationships and drive business decisions. Customer intelligence is a key component of effective Customer Relationship Management (CRM) and is closely tied to customer service and experience, as well as the marketing and sales industries. Areas under customer intelligence include gathering and nurturing leads, creating customer profiles, analyzing customer behavior, usage, and purchasing patterns, and audience segmentation.
Successful customer intelligence depends on having a 360-degree customer view, or the ability to combine information from a variety of sources into a unified repository, the right technological infrastructure to analyze large amounts of data, and the ability to take effective action driven by data analysis for marketing. Examples of data sources that can drive better customer intelligence can vary from speech analytics for phone conversations and click tracking on websites to CRM platforms, frontline data capture, and satisfaction reports or surveys.
The benefits of implementing successful customer intelligence strategies include a more detailed understanding of the customer experience, improved personalization and customization of marketing content, and a general increase in customer satisfaction and loyalty. In the end, these are some of the key factors in what determines the success of any business organization.