Ventana Research today launched its latest benchmark research initiative examining the state of customer analytics. The research is designed to examine the use of and intentions for analytics and metrics by all lines of business involved in customer-related activities.
Organizations have been talking about analyzing customer data for more than three decades. Over time, this interest evolved into a desire for the “360-degree view of the customer,” a comprehensive view drawn from all available customer-related data. Not many organizations have achieved this yet. The biggest obstacle to acquiring a 360-degree view is the increasing volume and variety of forms of data that contain information about customers. A sometimes-bewildering number of data sources contribute to the typical enterprise’s big data stores, among them business applications (CRM, ERP etc.), knowledge management, social media posts, call recordings, text messages and scripts from web chats and instant messages. These often are complex, largely unstructured forms of data such as speech, ad-hoc text, graphic images, video and alerts, and other system events.
This benchmark research program will identify, explore and quantify the ways in which organizations use analytics to support customer-related activities and how these methods have changed since our previous research on this topic. It will explore in detail how companies have improved their performance in using customer analytics, and their plans to continue such improvements. The research will identify the types of organizations that are interested in adopting improvements to customer-related analytics, why they are interested, who is making the purchase decision, in what time frame and what selection criteria they use. It will explore the value of having more effective and collaborative analytics processes, and it will assess the maturity of analytics systems and practices and the use of performance metrics and key indicators in all lines of business supporting customer-related activities.
“Companies are looking to the customer experience as a key way to differentiate themselves against the competition,” said Richard Snow, VP & Research Director. “These organizations are focusing on providing what I call an E.P.I.C. customer experience: easy, personalized, in context, and consistent. To provide such experiences, organizations need their customer analytics to process all forms of customer-related data and visualize it in ways that support all customer-related activities, including marketing, sales, service, finance and operations”.
Those interested in learning more about or participating in this benchmark research can do so at www.ventanaresearch.com/benchmark/customer-analytics. Ventana Research, a leading business technology research and advisory services firm, provides qualified research participants with an incentive and complementary report, which includes both key insights and best practices from the benchmark research.
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