Data is Critical to Having a 360-Degree Customer View

As I discussed in my previous blog “Transitioning from a Customer Experience to Business of Experience Mindset”, the one common challenge every company is focused on overcoming in this pandemic is the need to fast-track digital transition initiatives in order to meet customer expectations. 

Many companies are still focused on the “technology” initiatives needed to support remote workforces and re-engineering how to provide their products and services via new electronic channels. Customers don’t see or care about the internal obstacle’s companies are dealing with, instead they care about the level and quality of service or products they receive. 

Today, customers expect to be the center of a business’s philosophy, and to interact in the most user-friendly intuitive way possible. This applies not only to the speed and quality of the response they expect for any issue they have, but also to the level of service quality including access to tailored products, tools, content, and relevant information.

Why data is key to customer satisfaction

The threshold to dissatisfaction has never been this easily reached. Therefore, in order to create not only a great customer experience but also to avoid long-lasting negative client perceptions at any cost, organizations must get the most out of the available client-specific data. Data from current engagement channels i.e., web, mobile, social media, customer service will empower companies to achieve a 360-degree customer view and meet customer expectations.

In today’s new digital world where every interaction generates data, organizations are recognizing that data has become the key pillar for digital transformation. The need to embrace data to transform how business operates and interacts with customers is more important than ever.  During this pandemic, organizations that have invested in data transformation in their digital journeys have seen tangible results.

Benefits of effective customer 360 data and analytics use in organizations worldwide

Source: Statista

The following are a few initiatives companies are focused on using data to gain valuable insights on where and how to improve operations and customer experiences:

• Understanding customer behavior by observing transactional flows, the usage of products and services and industry benchmarks.
• Using voice of the customer insights from customer satisfaction surveys to understand customer revenue, attrition and retention trends, as well as to predict customer behavior and proactively address retention. 
• Capturing data points across business processes to identify opportunities for operational efficiencies.

Data tells us a lot about everything that we do. Companies that are embracing the fact that data can be a core differentiator will be the ones that lead the way and succeed.

No matter the industry, today’s organizations should be laser-focused on continually understanding their customers in order to deliver great customer experiences and keep their competitive edge. A critical component to improving this experience is analyzing data to understand your users’ pain points and determine what actions are necessary to maximize satisfaction. Integrate all data points and interactions into a single, integrated 360-degree customer view that enables your organization to better attract, acquire and retain customers.

Whether your organization needs help developing a data platform, building insightful dashboards, or generating predictive analytics, our team has the skills and background to ensure success. Contact us today to see how we can help you continually deliver great customer experiences.