12 08 2016
Digital Transformation is the catalyst for a much richer and broader ecosystem of data and information. When leveraged, it allows us to harness information as a business growth asset.
What executives need to know about the role of analytics in digital transformation
Evidence shows that those high-performing organisations that make the best use of this information are able to deliver better experiences, make smarter decisions and are able to thrive in the digital world.
The information we need often resides in a multitude of new places, resulting in the need to capture and collate data from across our improved communication and collaboration landscape.
The key to unlocking the value that lies within this data is the effective and appropriate use of analytics tools and methodologies.
Digital transformation and business analytics
What is it that we want analytics to reveal for us? We want to know what we have always wanted to know: how do we win more customers who will buy more and stay loyal longer. What is different now is that we need our insights more quickly, more reliably and more objectively.
But it can be hard to know where to start. Gartner’s recently published analytics hype cycle had 30+ categories of Customer Analytics Applications alone! So even for executives who accept the need for greater focus on analytics tools, it can be difficult to cut through the hype and identify where the priorities should lie. We find it useful to consider 4 key areas:
Decision support – digital transformation needs to be supported by evidence-based decision making.
Engagement management – we need to make decisions about the services/channels, including self-service and/or agent-assisted exchanges of information.
Customer experience - we need to understand the impact our service has on how the customer feels about us.
Influencing behaviours – we need to intervene in information exchanges in a way that influences the behaviour of the agent and/or the customer while there is still time to have an impact on the outcome.
A recent Capita eBook, “What executives need to know about Digital Transformation and Analytics“ explores the relationship between analytics and digital transformation. The eBook concludes that successful organisations are harnessing communication and collaboration technologies to gather more data and harvest more effectively the intelligence it contains. This is what allows them to make smarter decisions and it also gives them the agility make these decisions faster than their competitors. It’s an easy read and you can down load a copy here (with no gates, and no forms to fill).