There’s a big gap that exists between asking customers for feedback and then taking relevant action. The Temkin Group recently reported that, while 60% believe they do well at soliciting feedback, only 24% of large firms believe they do a good job of taking action on these insights.
That’s just not good enough. “Action is the holy grail!” says Bruce Temkin. “All of the efforts around surveying, integrating data, analyzing, etc. are only as valuable as the actions that they lead to.”
We couldn’t agree more, Bruce!
Tempkin refers to the wealth of information that most companies are collecting as “descriptive analytics.” In other words, they simply describe the current state of affairs. But the jump from understanding the current customer experience to understanding how to improve it is a big one.
The future of customer experience involves taking this valuable data from across the business (including surveys, usage data, and customer conversations) into a CEM and having it give you exactly the right actions to take. This is called prescriptive analytics.
In order to successfully implement a transformational CX program, firms need to move from descriptive analytics to prescriptive analytics.
Move from Descriptive to Prescriptive
VOC vendors need to do better at translating customer feedback into prescriptive analytics that inform the actions of employees. While the majority of CEMs offer survey capabilities and beautiful dashboards, most leave their customers confused by the sheer amount of data. They don’t actually uncover opportunities for action – they only describe the current state of your customer experience.
Vendors have a responsibility to help their customers move beyond data paralysis and pinpoint the highest leverage actions for improving the customer experience. Temkin calls this type of analytics platform an Assistance Engine – an improvement on the traditional Insights Engine.
Webinar: Get a little more action out of your insights
Join us on Friday, October 12th as Bruce Temkin walks through the future of CEM platforms and how you can get more action out of your CX efforts.
You’ll walk away with the following takeaways:
- The three types of analytics: Descriptive, Predictive, and Prescriptive
- What businesses can do to drive more actionable insights from their data
- How predictive analytics help you prioritize the right investments
If you can’t attend at the scheduled time, be sure to sign up and we’ll send you the recording right after we’re finished.
Meet the Speakers:
Bruce Temkin – Managing Partner, Temkin Group
Bruce Temkin is a customer experience visionary and is often referred to as the “Godfather of Customer Experience.” He has been credited with the creation of the customer experience movement and has helped hundreds of organizations transform their customer experience.
Dawn Poulos – VP of Marketing, CloudCherry
Dawn is the Vice President of Marketing at CloudCherry, the Customer Experience Management Platform built from equal parts love and science. She is a SaaS marketing executive, with sales DNA, who specializes in building high-velocity, data-driven marketing teams for early stage or growth companies. Dawn holds an MBA from the Harvard Business School