Increased competition, diffusion of digital technology and impatient as well as demanding customers has led enterprises to take the path towards personalized customer experience. But the question that still stands is: how can such customer experience strategy be measured? You can’t comment on the engine performance of a car by just looking at it. Hence customer experience analytics play a critical role in gauging your CX strategy performance.
When Analytics is used for improvised and efficient customer experience by analyzing, retrieving and collecting data, it is referred to as Customer Experience Analytics. With the development and evolution of digital technology customer experience analytics is used to better understand customer behavior and successful implementation of customer experience strategy.
Analytics is generally employed to understand data and derive insights based on this data to achieve a desired objective. With CX Analytics this objective gets translated to understand your customers better, improve their overall journey with your brand and deliver them an enjoyable and satisfactory experience. It helps you to look beyond just statistics into creating a story. The story that will convince the right people in your organization to do things differently, to advocate on behalf of the customer, and ultimately to drive better business results.
"Use data to create personalized experiences for your audiences. Customer interactions leave behind hints, creating digital fingerprints that can be analyzed for an abundance of information—right down to what your customers are doing or even how they’re feeling at that very moment."
- Jared Lees, the senior manager of industry strategy for financial services at Adobe
Benefits of customer experience analytics
You cannot afford to neglect customer experience analytics once you have employed customer experience strategy in your organization. Some of the benefits of customer experience analytics are mentioned as under:
- Identification of trends, reasons for glitches and patterns of customer behavior
- Empowers the marketing department to align right strategy and not do guess work
- It helps in visualizing the entire customer journey by aiding the development of true customer journey maps
- It helps in cross functional approach to customer experience unlike departmental and interaction silos
- It eliminates further obstacles in the customer journey
- An integrated customer journey map thus helps in giving you better insights and satisfied customer experience
Converting insights to provide better customer experience
With customer experience analytics you are in a better position to convert questions into decisions within minutes. It helps analyzing data to understand the complete customer journey. It helps you revisit customer experiences first hand and enables you to collaborate around insights with visibility across all channels. By getting down to the root-cause of customer feedback and closing the loop you can transform customer experience and hence your business. CX analytics helps you build role-based, interactive, real-time and highly visual stories for an action driven CX program that deliver results.
Predictive Analytics is the way forward
Predictive analytics focuses on making statistically probable predictions about the future so that you can take the right business decisions today. It has the potential to become the future of customer experience analytics by combining statistical analysis, AI and machine learning. Such a combination helps forecast and predict future outcomes by analyzing data and targeting the right customer with personalized and contextual communication at the right time. Customer experience analytics empower teams to quickly identify and engage with customer as a person and transform negative feedbacks and influence a conversation.
Providing best possible experience through personalization and engagement should be the ultimate goal of customer experience analytics. Espire Infolabs offers best in class data driven solutions leveraging our transformative Customer Engagement Hub framework in collaboration with our strategic partnerships to empower decision makers to effortlessly unlock enterprise data to study business patterns, predict risks and identify growth opportunities. We make it simple for business users to marry insights with credible business actions.
MORE FROM OUR BLOGS
Implementation of an Efficient Customer Support System
The client is an engineering, sciences and project delivery firm, based in Australia. Client's operations are divided into four broad business units: Buildings & Infrastructure, Power & Energy, Mining & Metals and Water & Environment.
Establishing Accuracy and Transparency in the BI Reporting System
The client wasn’t satisfied with its existing BI reporting system. There was a strong business need for better transparency and precision in the methods used to generate reports.
Espire Optimizes Data Warehouse for Resolution of Data Overload Issues of a Global Engineering Conglomerate
Find out how Espire optimized data warehouse of an Australia based engineering major through a detailed and systematic plan
Espire Develops a Reporting Tool to Boost Operational Efficiency
Espire empowered the Client with a comprehensive set of Business Intelligence technologies that helped them maximize the value of their business data.
Designed a scalable Analytics and BI Platform for a leading UK-based Mutual Insurance Company
The client is a leading UK-based mutual insurance company, which provides general insurance products to the members of the trade union and other not-for-profit organizations. Due to the constraints of their existing legacy architecture, they were looking a modern web-based architecture which could seamlessly integrate with multiple in-house applications being used by their different departments.
Unleash the power of data analytics to master management by exception
Data analytics is becoming increasingly important for businesses, and one of its most powerful applications is in management by exception. By leveraging the power of data analytics, you can gain insight into how your business is performing and where it needs improvement.
Role of data analytics to drive customer acquisition and maximize return on campaigns
Creating a customer-centric digital marketing strategy that accurately targets and addresses your customers’ needs is essential for any business. However, this can be challenging when you lack the right tools and data to help you do it. In this article, we’ll be focusing on how you can use data analytics in your digital marketing efforts to acquire new customers and retain current ones.
Driving operational excellence in energy and utility sector with data integration
Data, is at the core of a modern utility enterprise, that is highly valued and carefully curated. But then often, misinterpreted, underutilised or left to sit in silos. This sector must focus on breaking down the silos by learning how to integrate their disparate data, IT systems, functional and business processes. This allows leveraging the kind of operational excellence, greater revenues, decreased capital and O&M expenditures, and better-planned safety measures, they are aiming to achieve.
How has the logistics industry reshaped in new normal and roadmap ahead
Logistics industry has been undergoing a rapid boom initiated by globalization and catapulted to new heights by new means of communication and rapid advancement in supply chain technologies. However, the new normal as we face today is shaping the logistics industry in newer ways.
Importance of ai strategy for brands in the post covid world
Tech-savvy customers, increasing digital demands, growth in digital purchases, need for speed to market and elevated customer expectations have made it crucial for brands to plan, devise and roll their AI strategy in the post COVID world scenario to both remain competitive and provide superior customer experience.
Global Customers Served
Years of Experience in Digital Transformation & Total Experience
Speak to Our Digital Transformation Specialists
Let's get you started on the digital-first & transformation journey. Reserve your free consultation or a demo today!