Finding FAANG: The value of Behavioral Data
Blog post from Snowplow
High-quality behavioral data is identified as a significant growth opportunity for businesses, with companies like Netflix and Amazon leveraging it to dominate markets. Unlike transactional and demographic data, behavioral data offers detailed insights into customer interactions with digital interfaces, enabling a deeper understanding of customer behavior and preferences. This data is crucial in creating personalized experiences, enhancing fraud detection, and accurately attributing marketing efforts, as demonstrated by various use cases including a sock shop's improved product recommendations and fraud prevention strategies. Behavioral data's explanatory and predictive capabilities make it an ideal input for AI models, allowing companies to predict and influence customer decision-making processes more effectively. The article highlights the limitations of traditional packaged analytics solutions, emphasizing the need for scalable, high-quality behavioral data solutions like Snowplow, which can enhance AI and ML applications and provide a comprehensive view of customer journeys, ultimately leading to better business outcomes.