As the most popular type of BI extranet, customer care extranets provide companies a mechanism and process for giving their customers analysis capabilities. Your company realizes many benefits, and is able to:
- Acquire new customers
- Create new revenue streams
- Optimize value of product or service offering
- Increase competitive position
- Introduce switching costs
e-Commerce in Customer Extranets
By extending BI to its customers, a company is able to respond faster to the marketplace and focus on its most valuable customers.
Respond Faster to the Marketplace Intelligent decision-making helps identify market trends faster to conduct more targeted, cost-effective, and profitable marketing campaigns. This helps companies to acquire customers, convert browsing site visitors into buyers, and build loyalty through relevant marketing activities.
Focus on the Most Valuable Customers Companies that incorporate BI in their offerings can enhance their competitive differentiation in the eyes of customers to increase their loyalty.
For example, a customer who uses a BI offering will have a deeper set of information with which to research and compare products, or analyze purchasing history. Such customers gain the power to serve themselves, as well as to improve their decision-making processes.
