Consulting firm Acuvate put it succinctly. "Advanced analytics can be leveraged by HR teams
to positively impact both talent and business decisions in the organization. HR can evolve
from being just a people-management function to playing a more transformational role in
human capital management and being a strategic business partner in the company."
6. Driving The Customer Experience
Companies with a customer experience mindset drive revenue 4-8% higher than the rest
of their industries.
Two-thirds of companies compete on customer experience, up from just 36% in 2010.
Companies that lead in customer experience outperform laggards by nearly 80%.
84% of companies that work to improve their customer experience report an increase in
their revenue.
73% of companies with above-average customer experience perform better financially
than their competitors.
96% of customers say customer service is important in their choice of loyalty to a brand.
Companies like Amazon and Google and Apple have changed the way companies do business
with customers. And how the customer has become the centerpiece of every interaction and
transaction.
But just how important is the customer experience (CX) in today's world? Forbes recently
provided some key statistics to highlight the true value of CX:
Ninety-three percent of these respondents
reported using a survey-based metric (such as
Customer Satisfaction Score or Customer Effort
Score) as their primary means of measuring CX
performance.
But only 15 percent of leaders said they were fully
satisfied with how their company was measuring
CX.
And only 6 percent expressed confidence that
their measurement system enables both strategic
and tactical decision making.
Customer surveys have been the traditional method
of gauging customer satisfaction over the years. But
according to McKinsey, this approach is old, outdated
and full of shortcomings. In a recent study of CX
leaders:
LEVERAGING DATA | 9
