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Data is Driving the Customer Experience
Chandni Garg 270005M0N6 email@example.com | | Tags:  bao cognos data analytics retail customer
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There has been an explosion of data in recent years, fuelled by the growth in digitized information and increases in storage capacities. Amidst all this data, the focus of businesses should still be on the customer.
In my experience, I am finding leading firms are leveraging data more effectively to enhance their customer experience and gain a competitive advantage. This is profound because a customer that has a positive experience is more likely to refer it to others and contribute to greater revenue.
Brock Douglas highlights the benefits of using data effectively to enhance the customer experience. At a time where there is increased competition & decreased budgets, firms will want to ensure their customers are satisfied. If used correctly, data can help in achieving this.
Using historical data to optimize future outcomes and decision making is powerful. The growing field of ‘predictive analytics’ uses data to identify patterns and assign probabilities to future outcomes. If an organisation knows how to satisfy a customer’s expectations, predictive analytics can help to exceed it.
Brock makes the point that organisations that invest in capabilities that allow them to effectively use data will be more likely to attract and retain customers in the future. Predictive Analytics is one such tool.
The full text of the blog is below. It was originally posted on the IBM Smarter Commerce blog and can be viewed here.
Recently, I was told an interesting story by a friend about a less-than-optimum experience he had with a well-known service provider. My friend’s experience exemplified some of the key challenges that many organisations face in relation to effectively sharing data across channels. Organisations that are not using data are missing out on the opportunity to provide individuals with a superior customer experience.
To discuss the benefits of utilizing data, predictive analytics or enhancing yout customer experience, please contact me via my Rep page.