The Impact of Big Data on the Voice of the Customer
Big data and its challenges are not a new phenomenon. Back in 2001 Gartner analyst, Doug Laney defined the challenges surrounding the growth of big data in a research report that he authored (he also presented on the topic at a number of conferences). He described the challenge as being three dimensional; the increase in volume, velocity and variety.
Without going too deeply into the science and intricacies of big data, it is undoubtedly something critical to the success of every voice of customer program today and going forward into 2012. It is something which must be managed, and companies which best meet those challenges will end up on the top if the pile this year and in the future.
Let me explain:
- Volume: Companies need to utilise information from their whole customer base to gather a census and not just a sample. This enables businesses to drive by the true voice of customer, understanding real causes of satisfaction and dissatisfaction.
- Additionally there is the Benjamin Franklin Effect: as mentioned in previous posts, the mere process of asking for feedback increases loyalty to a brand. To read more on this you can click here.
- Velocity: Big data is mostly redundant if captured and delivered too slowly. Information on the customer experience requires capturing at the moment of truth, or as close as possible to it, to gather an accurate picture of the experience.
- This then needs to be analysed and shared throughout the business in real-time so fast and effective change can happen; whether this be quick customer recovery or training for an underperforming agent.
- Variety: To maximise its benefits, big data needs to viewed multi-dimensionally; this variety enables a complete view of the customer lifecycle to truly understand their journey from point of sale through to a contract renewal or their next customer experience.
- Effective use of big data enables a company to capture the voice of the customer in multiple channels, from multiple touchpoints and offer a diverse range of analytics.
Big data is not something to be feared – the NICE Fizzback solution enables companies to utilise their customer information to understand the voice of the customer and drive improvements in performance and efficiency to dramatically improve the customer experience. It has the power to transform your business to lead the industry in customer service.
For more info on NICE Fizzback please visit www.nice.com/fizzback