The digital nature of our interactions has enabled us to gather valuable data about our customers. Analytics processes should mine this data to understand what has happened, assess context to indicate what is likely to happen next and harness experience to guide what you should do about it.
Analytics and insight – speech, text and data analytics
Digitally transformed organisations are using analytics to help them understand how to win more customers and how to ensure that they will buy more and stay loyal longer. But with so many customer analytics applications being promoted it can be difficult, even for executives who accept the need for greater focus on analytics, to identify where to start. We find it useful to consider 4 key areas:
Decision support: digital transformation needs to be sustained by evidence-based decision making. It is an ongoing process and requires a looped cycle of data collation, analysis and process change in the organisation that enables better customer conversations and delivers better experiences. The key analytics challenge therefore is not about what to transform or how to transform it, but rather, how to sustain transformation on an ongoing basis.
Engagement management: the digital customer is much more agile than the organisations that serve them. The role of analytics in engagement management is therefore to identify areas where our processes and systems are failing to keep up with changes in customer expectations. Relevant analytics capabilities here include speech analytics, text analytics and voice of the customer.
Customer experience: the increasingly digital nature of our interactions has enabled us to gather significant amounts of data about our customers - what they say and do, and also how they feel. This places customer experience analytics on the strategic agenda that address retention, lifetime value and profitability. Analysing customer experience against these criteria will uncover patterns of behaviour, correlations between actions and how they change over time.
Influencing behaviours: throughout the entire customer engagement lifecycle, analytics mines data to understand what is happening and assesses context to indicate what is likely to happen next. If these observations and predictions are to be considered “actionable intelligence”, we need the ability to intervene in information exchanges in ways that influence the behaviour of the agent and/or the customer while there is still time to have an impact on the outcome.
Analytics and Insight – take the first step
Today’s high-performing organisations have harnessed communication and collaboration technologies to gather more data and harvest more effectively the intelligence that it contains. This is what allows them the agility to make smarter decisions and make them faster than their competitors and this is where Capita can help. Get in touch to find out more about how our analytics and insight solutions can drive down your costs and improve your customer experience, or call us on 0117 311 5757.