How Data Drives Better Customer Experiences

 
 
By Dennis McCafferty  |  Posted 05-05-2016 Email
 
 
 
 
 
 
 
 
 
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    How Data Drives Better Customer Experiences
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    How Data Drives Better Customer Experiences

    Most surveyed organizations revealed their data is not highly integrated as it moves throughout key customer channels such as the Web, smartphones and mobile devices.
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    Enlightening Effort
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    Enlightening Effort

    58% of survey respondents said their organization is using metrics to measure the impact/success rates of customer engagement, and an additional 37% said their company is working on doing so.
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    Inside Out
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    Inside Out

    61% said their company has created databases or data warehouses that integrate both internal and external sources of data across apps and channels, and an additional 34% said their organization is working on this.
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    Big(ger) Data
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    Big(ger) Data

    79% said the amount of data made available about the customer experience has increased by at least 10% over the past year, and 13% said it's increased by more than 50% within this time.
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    Game-Changer
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    Game-Changer

    90% said their organization's use of data analytics has created a noticeable shift in its ability to deliver a superior customer experience, and 29% described this shift as "significant."
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    Wide Perspective
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    Wide Perspective

    65% said their organization has a view of at least half of all customer interactions, transactions and requests.
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    Most Highly Visible Customer Experience Data Sources
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    Most Highly Visible Customer Experience Data Sources

    Emails: 80%, Purchase/transaction histories: 78%, Web visits: 77%
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    Deep Knowledge
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    Deep Knowledge

    57% said their organization's execs understand the importance of enterprise-level data analytics in supporting brand/customer-focused initiatives "extremely well."
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    Exclusive Club, Part I
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    Exclusive Club, Part I

    Just 36% said their organization's data as it moves throughout key customer channels (such as the web, smartphones, mobile devices, etc.) is highly integrated, with all channels sharing the same information in real time.
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    Exclusive Club, Part II
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    Exclusive Club, Part II

    Just 14% said their company's customer data is cross-functional, with fully synchronized "data stores" to support a full range of marketing analysis, campaign management, real-time processing, query "sandboxes" and business-intelligence reporting.
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    Biggest Benefits of Data Analytics
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    Biggest Benefits of Data Analytics

    Faster decision-making: 62%, Better insights/common enterprise view of customers: 51%, More confident decision-making on part of managers and employees: 49%, Greater customer engagement: 49%, Increased sales/revenues: 47%
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    Top Customer Experience Challenges
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    Top Customer Experience Challenges

    Service requests requiring lots of follow-up: 34%, Processes not fully covered by IT systems: 29%, Integration of channel experiences: 27%
 

Most organizations are now using analytics and metrics in a broad range of ways to measure the impact of customer engagement, according to a recent survey from Forbes Insights and SAS. The resulting report, titled "Data Elevates the Customer Experience: New Ways of Discovering and Applying Customer Insights," reveals that companies are now creating databases or data warehouses, for example, to integrate both internal and external sources of data throughout various, available apps and channels—taking advantage of an ever-expanding volume of customer-related digital information. As a result, survey respondents say they're better positioned to deliver a superior customer experience. There is, however, room for improvement, as only a minority of companies integrate their data so that it is shared within all channels (including mobile ones) in real-time. "Today's customer experience requires a combination of individualized insights, connected interactions and an agile approach to meet customers in the channel of their choosing," according to the report. "This means more than simply doing the same things over in the new channels. It requires new ways of exploring customer trends and preferences, and being smarter about responding to these factors … Delivering a successful customer experience requires a mix of activities and competencies, from data integration to technology implementations, to training, to rethinking processes, and it doesn't happen overnight." Nearly 360 global senior execs took part in the research.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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