We live in a fast paced world where the business environment is ever changing. What used to be the way forward a few years ago is extinct today. Trends are evolving and the global village that we all transact business in makes information easily accessible to all in a very brief timeframe.
In this kind of world we find ourselves in today, information is supreme and that is what drives business operations. Businesses can leverage on such information to put themselves at a competitive advantage to other businesses. The right kind of information, however, is pivotal to the success of any business. With the abundance of information, there is a high tendency that credibility becomes a bone of contention if a business is to make proper use of such information.
One definite way of giving credibility to information put out there is through the use of data analytics. When there are hard facts backing information presented, it raises the confidence of the consumers of such information. When these consumers are the customers of a business, what it does to the customer experience is nothing short of remarkable.
Businesses can leverage on the right information to put themselves at a competitive advantage to other businesses.
Scrutinizing raw data in order to arrive at a conclusion about a piece of information is what data analytics is all about. To give credibility to any piece of information, data analytics breaks the information into its basic form. This shows the very minute patterns that constitute the information, a process that is most likely hidden in the broader information. Once the information is deciphered, it can be rightly appropriated to making the best decisions for any individual or business.
If a business seeks to enhance its customer experience, then it should make use of data analytics to arrive at a very conclusive finding from information gathered in order to improve its business standings through the offering of superior customer experience.
A practical look at the concept of data analytics unfolds in such a manner. Take for instance two businesses, “Data Oriented Business” and “Data Disinclined Business”. Data Oriented Business notices that customers who visit the business once or twice never return. Data Oriented Business then seeks the opinion of its employees as to why this is the case. The information received ranges from pricing through ambience to duration of service.
To ascertain the validity of the information coming through, Data Oriented Business makes a list of its Key Performance Indicators (KPI) with respect to customer experience and proceeds to test these KPIs against customer feedback. Data Oriented Business resorts to a reliable and user friendly customer feedback tool and gathers information at its business premises directly from customers. With the feedback tool the data received is scrutinized and interpreted into useful information and aids Data Oriented Business to make an informed decision based on facts.
For Data Disinclined Business who relies on just what he gathers without actually testing the narrative, decisions made would solely be on assumptions and misconceptions. What a customer is actually feeling and looking to be addressed would be totally missed. What then would be the conclusion? The customer experience served by Data Disinclined Business would be one too short.
If any business wants to offer superior customer experience, data analytics is the tool to employ!