Predicting Consumer Behavior with Data Analytics

Predicting the ever-evolving consumer behaviour is one of the biggest challenges faced by marketers around the world. Well, it has always been a challenging task, but today, it is even harder as consumers are constantly being exposed to new technologies, products and even new wants! With a plethora buying options to their disposal, today’s consumer behaviour flickers way too often. Now, thanks to the advent of e-commerce and mobile commerce, buying a product or service is not a simple task it used to be. As they say, ‘Choices make life more complex,’ buying a product or a service in the present era is accompanied by a lot of comparisons and checking out for deals. Businesses face the brunt of this as many a time, after spending a good deal of money to promote their products, customers often leave the product in the shopping cart – never to return!

While all this is heart-wrenching for the businesses who keep losing the sale to competitors, all hope is not lost. Smart marketers put their money on data analytics to best understand their consumer behaviour.

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