Saturday, 12 January 2013

Enhancing Customer experience with Big Data Analytics


The era of Big Data is upon us.
Big data by definition is:
·         combination of all the internal structured business data (CRM, ERP, POS and all the internal system data) and external unstructured data ( Social media data, feedback surveys, Audios, Videos, streaming data, Call center data, images)
·         unmanageable volumes by traditional databases
·         enormous speed at which it comes into the organization.
Today, most organizations are still struggling to unlock the full value of this Big data that is available to them. From internet to mobile and social, the amount of customer data is continuously growing.
Company’s ability to extract value from big data through smart analytics will be the key to their business success.
Channel based marketing is a least priority now. The increased amount of data available at individual customer level has allowed companies to do a personal marketing.  But all this customer data out there is worthless if you can’t process it & turn it into actionable intelligence.
With Big data platforms helping in  collection, integration, and transformation of large volumes of data, companies can conduct complex and varied analysis on much larger datasets and reduce the time to action and reaction to customer needs.
Organizations can now impact the entire customer life cycle and every interaction by being well prepared for each interaction, shaping the interaction in real time as it happens and driving the huge improvements across all the channels for next interaction.
By listening to the data as a signal from customers and working to personalize the experience for the customer, creates the value for the customer as well as business.
Some examples of enhancing the customer experience using Big data Analytics:
·         Retail giants are using Big data to personalize the offers to enhance customer experience
·         Healthcare companies are using it for improving the patient care in hospitals
·         Banks are using it for upselling and bringing the new products to market
·         Insurance companies are making tailor made policies for their customers in real time
·         Manufacturing companies are using Big data to improve their products, predict the failures in their product lines ahead of time to make every customer interaction very smooth
Using Big data to address customer inputs before they become problems is extremely important to ensure they stay loyal and more profitable to the company.
Customers expect to have the best possible experience from their vendors/service providers. They want to be recognized as individuals and not as a part of a segment.

8 comments:

  1. Its also called as managing 3 V's
    V - Velocity of data
    V - Volume of data
    V - Variety of data.
    Looks fine as a concept. Long way to go..Hope its not just the hype or another bubble in waiting.

    ReplyDelete
  2. Hi Sandeep,

    Thank you for your great post on how big data has benefited customer service. Data is there to be analyzed and used, and this post really highlights that. Good job!

    At the moment, I'm looking for bloggers and contributors for a storage and big data website. Would you perhaps be interested in contributing your past and future blog articles? We want this website to be a thriving community of experts generating conversations on big data, cloud computing and storage virtualization.

    It's free to join, and only the title and the first few sentences of your blog entries will be published on the website. We want readers to engage with your content and be directed to your blog for the full article. This way, you'll get traffic! :)

    If you’re interested or have any questions, please send me an email at tinajin [at] atomicreach.com with “Tech” in the subject line. I'll be glad to answer any questions and get you started on being an expert contributor!

    Sincerely,
    Tina Jin

    ReplyDelete
  3. This post is probably where I got the most useful information for my research. Thanks for posting, maybe we can see more on this.
    Are you aware of any other websites on this subject.
    GOOD TERADATA ONLINE TRAINING

    ReplyDelete
  4. Thanks for such an informative post. I learned some new stuff, thanks to the the keep it simple part it is written. Thanks again !

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  5. I agree with the points that you are trying to say on your blog entry. My line of job is into online marketing campaign and having a data analytics to analyse volume of search traffic or social media signals really helps to improve the popularity and visibility of the company on the web.

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  6. Thank you for sharing. Check the ViS platform for research center analytics.

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  7. Its really very informative & helpful.

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  8. They should learn how to deal and focus on what customer wants. I know, and we all know that shit happens but it is not always an excuse. It broke the want and desire of a certain kids (which is matters). It is a small thing but it does disappoint people, so it matters.

    ReplyDelete

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