How data and analytics contribute to a better customer experience - Course Monster Blog

Transforming data into useful insights

More than ever before, the globe is saturated with data. Consider the sheer volume of emails that fill your professional and personal inboxes daily.

In only 60 seconds, Google receives 4.2 million search queries, US customers stream 694 songs, post 350,000 tweets, spend $283,000 on Amazon, and watch more than 404,444 hours of Netflix material. Online content consumption more than doubled in 2020 compared to 2019.

Advanced analytic solutions are required to analyze such vast amounts of data, which comprise structured, semi-structured, and unstructured data. Indeed, it is practically impossible to provide outstanding customer service (CX) without data analytics, because the ideal CX is data-driven. However, data overload might damage a company’s ability to function efficiently, resulting in the incapacity to make any judgments at all.

Large volumes of data, on the other hand, may be leveraged to allow well-informed business decisions that drive success and enhanced CX through data analytics. The problem is that many of your clients lack the tools necessary to consume, analyze, and interpret large amounts of data, which means that all of that valuable information might be lost.

The steps needed in data analysis

Arrow has the people and systems in place to evaluate such data rapidly and effectively, which include:

• Determining how data is organized before splitting it into several variables such as age, gender, nationality, and income;
• Data collection from different sources such as web searches, computers, cameras, purchase history, and loyalty programs;
• Organizing it on virtual software (forget about paper spreadsheets);
• Scrubbing and cleaning it to remove redundant, incomplete, or inconsistent data; and
• Developing a single source of truth.

Data improves customer experience by enabling massive personalization. If you acquire such data but don’t have time to do anything with it, you’re throwing money away.

4 ways data can be used to improve CX

Consumers nowadays can find your competition with a single click or two. However, by using their data effectively, you may assist avoid this from happening. Data analytics are important if you want to provide personalized services to your clients and keep them loyal to your business. The following are some examples of how data may be utilized to improve customer experience:

1. Tracking behavior: Do particular customers visit your website at certain times of the day? What do they buy, and have you been able to utilize that information to upsell? Is there a loyalty program in place, and if so, what motivates them? Data analysis assists in determining what is causing your consumers’ tendencies, allowing you to provide personalization.
2. Providing personalization: Data analysis, like a missile pursuing its target, may uncover hidden trends, allowing you to better understand your consumers’ wants and requirements and respond appropriately. What is the point of a generic offer? Knowing what a customer is searching for allows you to offer them a promotion, voucher, or other offering based on previous purchases or current search searches.
3. Building loyalty and retention: According to research, it costs six to seven times more to acquire a new client than it does to maintain an existing one. Customer loyalty is thus extremely important, and data analytics allows you to uncover the trends that generate better products and services that keep them coming back to you.
4. Predicting patterns: Data may be utilized to forecast not just what your consumer wants and needs today, but also in the future, using predictive analysis. What items are they interested in? Where and how are they attempting to expand? By forecasting their next move, you may provide them with items or solutions that they may not be aware of.

Data here, data there, data everywhere

You understand your clients’ data and analytics pain points. They typically have restricted access to data due to resource restrictions. However, their data is segregated due to a lack of integration. Perhaps they are seeking data scientists but are having difficulty finding them due to a lack of supply or just lack of the means to recruit their own.

If any of these apply to you, keep in mind that Arrow has the capabilities to analyze massive volumes of data. We can keep in contact with suppliers and systems that ingest, organize, standardize, and extract critical data to generate meaningful insights. We use data analytics technologies to show information in dynamic and customizable dashboards, allowing you and your clients to flourish in today’s competitive market and grow and succeed.

More than half of customers are willing to pay for a speedy and efficient customer service experience. In today’s environment, when digital transformation is accelerating, a continual supply of data and the tools to evaluate that data to create the best experience are essential.

Arrow can assist you when you are short on time or resources. We have the vendor line card, the skilled employees, and the expertise to evaluate and make sense of the data you collect for you and your clients.

Data certainly is the “new oil,” and it is essential in achieving the ideal CX that we are all striving for.

Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.

For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com