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Technology and Insights.

Part of the CX Centric Customer Centricity Maturity Model

WHAT IS TECHNOLOGY AND INSIGHTS?

In order to compete in today’s fast-moving and data-rich world, organizations must develop capabilities in data management. They must be able to collect customer data and marry this with other forms of data in order to create a rich picture of the customer and business relationship. Organizations must also be able to use the data to understand the situation and tell stories to uncover opportunities to grow, as well as to motivate and align teams.

Three Dimensions of Technology And Insights

architecture and quality

ARCHITECTURE AND QUALITY

Customer-Centric organizations must have the correct technology stack to obtain a 360-degree view of their customers. This includes mechanisms for understanding the quality of data.

collection

COLLECTION

Organizations must have different methods to collect customer data, as frictionless as possible. They must be able to organize this data so that it is fit for use and appropriately managed.

analyse and share

ANALYSE AND SHARE

Successful organizations analyze a range of data to uncover opportunities to improve the Customer Experience and share this information across the organization

WHY ARE TECHNOLOGY AND INSIGHTS IMPORTANT?

  • Better information enables organizations to drive higher profits through customer expansion
  • Uncover more valuable opportunities more often
  • Supports an organization to offer services pro-actively rather than being re-active
  • Supports offering a personalized experience
  • Reducing costs of manually analyzing data
  • Improves organizational alignment through sharing of insights across functions
  • Increase CSAT and Customer Effort Score
  • Improve Customer Acquisition Rate
  • Increase Customer Retention Rate
  • Increase Customer Lifetime Value
  • Increase Revenue

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REFERENCES

  • Adji Achmad, R. F. (2018). The effect of organization culture and technology on motivation, knowledge asset, and knowledge management. International Journal of Law and Management, 60(5), 1087-1096.
  • Barge-gil, A., & Modrego, A. (2011). The impact of research and technology organizations on firm competitiveness. measurement and determinants. Journal of Technology Transfer, 36(1), 61-83.
  • Bonnie, R. M., & Dillon, R. (2005). The impact of technology on relationships within organizations. Information Technology and Management, 6(2-3), 227-251.
  • Cooper, C. E. (2019). The impact of advanced technologies on the workplace and the workforce: An evaluation study (Order No. 13808928).
  • Dang, H. D. (2005). The impact of information technology on middle managers within business organizations (Order No. 3201556). Available from ProQuest Central. (305343136).
  • Etwaroo, S. R. (2019). Data quality impact on data frameworks within business organizations (Order No. 13805494). Available from ProQuest Central. (2205051094).
  • Morris, J. S. (2010). A case study on advanced technology: Understanding the impact of advanced technology on student performance (Order No. 3411162).