There’s been a dramatic surge in the data accumulated by enterprises, both in terms of volume, velocity and variety along with how it is condensed, analyzed, understood and used well. The means to gather information are innumerable however they capture only a small slice of the multitude of interactions and experiences customers go through. The traditional methods do not classify this information into instances that can be unrelated casual cases and those that contribute to real business outcomes. Since most organizations aim to scale up their capabilities to tackle these challenges today, they are also cognizant that this is the trove of enterprise data that holds the key to enhancing customer experience and business growth.
Customer management specialists help enterprises mine the influx of big data and arrive at actionable business insights which are proactive, predictive and optimized in nature. For example multi-channel contact center which processes multi-point data through a framework of information, insights and intelligence thus enabling enterprises to progress to a more analytical and information-based model of engaging more effectively with customers. Such a capability allows businesses to leverage enterprise data in many ways along with allowing you to predict future trends, learn from earlier experiences so you can plan actions better, build superior engagement models and enhance your customer lifetime value.
As predicted for the future, service providers will be accelerating enterprise performance through a robust framework that should be able to link all aspects of customer data together into a complete view of customer experience at the individual level and across an entire customer base as it provides tangible impact on the business results. This helps enterprise conversations take a multi-dimensional look at its customers in terms of their potential value and risks which they create, along with the efforts required to reap long term benefits which results in enhancing customer lifetime value. Such frameworks aid organizations to capture multi-point customer data sources across contact centers, social and digital media, interactions, product usage, sales and marketing and process it to create a single unified view of the customer across the organization.
Big Data analytics is well accepted in various industry sectors today therefore we cannot undermine the sentimental analytics employed to leverage consumer data from social media and contact center channels to make informed decisions about assessing real time response for a marketing campaign. By studying in-store consumer behavior and shopping trend analytics, retailers can improve the layout and customer experience while encouraging purchases.
To experience these benefits of big data, enterprises need to gradually build robust compliance and governance structures. However these remain largely subjective as the big data phenomenon is constantly evolving and the rules are always being formulated. The governance and audit processes require a clear understanding of data sources, ascribing confidence limits, testing and validation. Various software solutions and platforms have enabled the distributed processing of large data sets across clusters along with the ability to keep huge amounts of history, especially petabytes of data.
Contact Centers transact an enormous amount of ‘moments of truth’ while social media platforms record the rapidly rising voice of the consumer. By combining these with in-house data, you can enable an enterprise to shift from traditional engagement models and provide on-demand intelligence with processes driven by actionable insight.