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Big Data + Analytics = Irresistible Customer Experiences

Steve Earl
Senior Director, Product Marketing, Oracle Marketing Cloud

In 2013, a research by Walker predicted that by 2020 customer experience will overtake price and product as the main differentiator. While most organizations and marketers have prioritized customer experience as top business priority for a few years now, they don’t always know how to get customer experience right.

Marketers who are delivering optimal customer experience know that data is king.

True customer understanding requires collecting, analysing, understanding and using customer data to help deliver personalised experiences. Extreme analytics—analytics driven by context—creates the potential to hyper-personalise these experiences and drive customer loyalty.

Natural language processing with analytics running in the background, for example, will make consumers feel that they are receiving a unique personalized experience, even though they may not communicate voice-to-voice or face-to-face with anyone from the company.

No matter what device the customer uses to initiate contact, the technology will be in place to translate, interpret, understand behaviours, and anticipate needs. This is extreme analytics in action: using new sources of data to ensure every customer receives a unique and rewarding experience, no matter which channel - human or digital – they choose to use.

While big data and data analytics are a part of almost everything we as marketers do today, both are still overhyped and misunderstood. In our hyper-connected world, it’s amazing how disconnected our approaches to serving our customers has become. Many organizations have still not figured out how to create clean, powerful linked data assets.

Digital marketers need to be able to leverage data to optimize customer experience in terms of these six key areas: 

1.    Unlimited Scale and Flexibility: An analytics solution must be built from the ground up with big data technologies to handle the inevitable scale that Internet of Things (IoT) will demand.

2.    Individual Level intelligence: A unified and intuitive user experience to support completely different tasks, roles and people – making it easy to learn and manage.

3.    Accuracy at Scale: Analytics data must advance beyond approximate trends to an accurate source of digital performance that is trusted by the business for decision making

4.    Cross-Channel Insights: Collect and connect all customer brand engagement regardless of any connected device.  The ability to collect and connect all customer engagement data is key in transforming your marketing from a series of independent interactions with a “visitor” to a single conversation with an “individual.”

5.    Data activation and Openness: Analytics data should be open and available for easy extraction and integration into your marketing ecosystem

Strategic data collection and use had the power to create competitive business advantages for your organization. Keep ahead by exploring the five steps to integrate extreme analytics into your customer experience strategy. You’ll find these steps and more within Extreme Analytics Customer Experience with Artificial Intelligence.

 

Get smarter customer experiences with Oracle Cloud Analytics. Try the ROI calculator

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