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Data-Driven Strategies Improve Customer Experiences

March , 15 , 2014

data-driven strategiesData-driven strategies for targeting customers are becoming the new norm for companies in this online era. The amount of data in our world has suffered an exponential growth during the last few years: It’s estimated that 90% of the data in the world has been created in the last few years. This is why it’s now crucial that companies adopt data-driven strategies in order to better understand their customers.

Older data processing technologies proved to be simply incapable of processing the new data volumes that the industry has collectively named “Big Data” – volumes that are measured in terabytes/petabytes.

In this new challenging context, savvy marketers have developed a new business approach based upon so called data-driven strategies. These data-driven strategies allow them to mine the most value from the data, processing it and turning it into actionable intelligence whereby they can anticipate trends, gain insights into customers’ behavior and make the customers’ experiences more timely and relevant.

The power of unstructured data and the potential of data-driven strategies

Unstructured data is the text found in emails, comments, text messages, call center notes, tweets and blogs. This type of data represents about 80% of the data available to companies and it is in continuing growth.

Until now, the majority of companies used to analyze unstructured data either manually or in an inadequate and time-consuming way. Being aware of the great potential of this data, the managers included in their data-driven strategies some new text analytics techniques through which the relevant information is extracted from unstructured text and transformed into structured information that can be leveraged in various ways.

Data-driven strategies can help you to identify customer trends

data-driven strategiesData-driven strategies enable us to use each channel touch point in order to better understand customers and to improve the way we interact with them. By collecting and combining all the knowledge about customers and by deeply analyzing their behavior, we will be able to identify certain trends and patterns.

The same way we create messages that match customers’ interests, we should try to include in our business plans, engagement strategies based on the online behaviors and demographics of a specific audience.

Create holistic experiences through data-driven strategies

The average customer has billions of interactions a year across different types of channels. For companies, these interactions are valuable sources of insight and knowledge towards developing data-driven strategies. By combining all this data and by having a 360 degree view of each customer or customer segment, they would be able to develop data-driven strategies that aim to offer holistic, cohesive and relevant customer experiences.

Using a single voice across all channels and lines of business, would no doubt be much more effective than developing isolated actions. Of course, this would require an entire ecosystem of processes, technology and people.

Within this new data landscape where data-driven strategies are becoming the norm, Discue will act as a powerful and complex channel so that individuals, companies and consumers, may be able to enjoy cohesive and relevant experiences.

Article sources: Mckinsey.com, Briansolis.com, Razorfishoutlook.com

Images from Flickr.com, Commons.Wikimedia.org

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