The global coronavirus disease 2019 (Covid-19) pandemic, which resulted to self-isolation and economic uncertainty, is possibly changing the way people avail of products and services. Businesses face the risk of becoming irrelevant to their customers if the former fails to understand changing consumer behavior and priorities brought about by the Covid-19 pandemic. It is very critical to understand the customers’ side. Mid-market businesses need to assess whether they are still on the right track to understand and meet customers’ changing needs.
Agility is essential in a rapidly moving commercial landscape, and right data analytics can help you with a real-time overview of customer dynamics especially when consumer activities pick up. The question is, do you make use of tools to help you get a better handle on customer dynamics? Social media monitoring can help you measure customer sentiment. On the other hand, personal data analysis may help you identify key trends for your business and identify income drops or sudden increase in expenditures.