In today’s competitive on-line world, the speed of change in customer behaviour is increasing. In addition, in industries such as retail banking, car insurance and to some extent retail, the Internet has become the dominant way in which customers interact with an organisation. Yet in many data warehouses today, being able to analyse customer on-line behaviour is often not possible because the clickstream web log data needed to do this is missing. It is a key point because customer access to the web has made loyalty cheap.
On the web, customers have now realised who is king. In a matter of minutes, they can quickly search the Internet, find your competitors, bookmark products of interest and switch between bookmarked sites to quickly compare prices, capabilities and options. Once they have a good idea of what products and services they want to buy, they can check out social media, find review web sites and ask questions in a few forums to see how others rate the products and services of interest. Then, with all the information at hand, the fully informed customer will switch brands at the touch of a mobile phone screen or the click of a mouse.
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