by Kurt Schroeder and John Seeds
Leveraging Data to Drive Customer Experience Innovations
Today’s businesses capture, process and track countless data points each and every day. This data is used by organizations to develop new product or service offerings, make investments, plan go-to-market strategies and even create employee staffing schedules.
While the information captured is invaluable for an organization’s strategic business planning initiatives, big data can and should also be leveraged in a more customer-focused way. Unfortunately, very few organizations leverage data to understand the emotional and relational needs and wants of their customers.
Organizations that capture and leverage CX-focused KPIs are better positioned to improve customer satisfaction and loyalty, reduce customer churn and improve the overall customer experience than those that do not. That isn’t to say that these data points should be the sole focus of your information gathering efforts. Instead, a combination of data points relating both to operational issues and factors that impact CX should be tracked and leveraged to their fullest.