How can BI help Improve Customer Experience

October 19, 2020

As per International Data Corporation, each person on earth will generate an average of about 1.7 MB of data per second in 2020

Business strategies and decisions have evolved from being data-based to data driven. Today BI solutions harness the sea of data being generated for a great customer experience. How? Data speaks and it gives the right answers to the right query. This is where effective BI solutions differ from others of the same genre. A solid Business Intelligence strategy means perfect customer data interpretation and better customer expectation management with data imaging and self-service BI. Mixed with AI, these can turn the customer management scenario cause a 180 degree.

Data Imaging

Big Data imaging or visualization tools can organize large and fast-moving data in real-time creating graphical image about your customers’ experience. With it you can track customer journey and experience to take suitable actions.

Self-Service Enablement

Companies like Unilever, PepsiCo, Amazon, or Lego use this to leverage the huge data (idea) generated by crowd sourcing. They optimize decision-making capability across the organization through this sing data source by analysing certain customer traits. This eliminates IT or data analyst level.

Artificial Intelligence (AI)

BI helps companies to understand and order the huge amounts of data they collect. AI can enable BI tools to produce clear, useful insights from the data and clarify the importance of data point at a granular level. The results can be translated to make better business decision for improving customer experience.

How do you achieve business excellence with BI?

1. Create market dynamics by improving performance, meeting customer expectations, and build long-term customer relationships. The data from apps, platforms, analytics tools, and pay-per-click campaigns are analysed. The analytics reports influence business decisions through research, data, and facts, rather than intuition, assumption, or instinct.
2. Drive business revenue by identifying consumers from the petabyte of data fed through social media, videos, ads, podcast, etc. You drive purchases or subscriptions by creating a business strategy to tap that customer base.
3. Build a consolidated customer view using customer data. The combination of various customer data (interactional, behavioural, and transactional) collected through various channels like POS, website engagements, customer chat information or IVR, form the CRM data. BI will give a holistic view of customer experiences from these data.
4. Track buying trends effectively with BI. The retailers or brands can compare Inventory values with sales history and get specific insights. Based on the buying trends they can replenish their inventory or place them to deliver quickly (Amazon model.)
5. Build brands in competitive business scenario by analysing consumer behaviour; planning and to meet sales objectives. For example, human behaviour analysis helps Costco or Family Dollar to grow business through cross-selling by including many more channels for a greater wallet share.
6. Analyse qualitative and quantitative data and get the bigger picture (‘why’ to ‘what’) of a particular customer trend. It’s a great advantage to know what motivates customers buying behaviours.

While BI establishes a 360 degree view of customers, its success depends on the implementation and utilisation ─ the top-level to the frontline customer service personals. Ultimately, the skills, mind-sets, training (interpreting and applying BI insights) and customer first attitude are key ingredients to a great customers’ experience.

Interested to discuss more, please feel free to contact the author at ashish.bhalla@dbppl.com

About Ashish Bhalla

Ashish has almost 30 years of industry experience in a wide range of business solutions primarily focusing on end-to-end customer experience management. He is the founder and CEO of Digital Business People (DBP), an omni-channel customer experience management company headquartered at Singapore with it’s development and delivery centres in India.