Unified data analytics are a subcategory of Voice of the Customer analysis.
They add value by both providing and bringing together multiple customer-data solutions into a unified view — a “single source of customer truth”.
They also help firms aggregate and analyze both structured and unstructured data.
In this post I'll walk you through five age-old CX problems that can be solved by unifying your data sources.
But first some background.
What Is Unified Data?
It's very straightforward.
It's data (usually from customers) brought together from multiple sources and made accessible in a single location.
This could be data from social media, surveys, call center interactions, chatbots, CRM systems, etc.
VoC and CX (Customer Experience) professionals may also refer to this data as Unified Experience Data.
Basically, we're dealing with data collected over time from different channels and interactions.
Why Do CX Teams Care About This?
VoC and CX have been around long enough that most companies will have a unique legacy chain of program development.
Some may have a track record and in-house capability conducting traditional market research surveys, but may be new to the analysis of unstructured or first-party feedback.
Others may have robust systems for handling call center data but lack listening posts in social media.
Like a general contractor, unified data analytics bring together the best features that already exist in the company.
If they have a unified analytics platform, they then combines those data sources with new best-in-class sources that are appropriate to their business and industry.
The Benefits of Unified Data Analytics
There are many benefits of using unified data to improve the customer experience.
Some of these benefits include:
· Ensuring accuracy and completeness of customer-related data
· Getting a 360-degree view of the customer
· Improving customer segmentation
· Enhancing customer profiling
· Generating real-time insights
Generally speaking, unifying your data can help improve customer experience by bringing together all customer data into a single view.
Just think about what you can do if you understand your customer profile and behavior trends better than your competitors.
Marketing teams can better target their campaigns and communications efforts.
More on that later.
We're here for CX.
The 5 Age-Old CX Problems Unified Data Analytics Can Solve
Now let's take a look at five age-old CX problems that can be solved with this increasingly popular framework.
1. Maintaining separate customer databases
One of the biggest benefits of unifying your data is that it can help firms consolidate their customer-sourced data into a single view.
This can help firms improve customer experience by allowing them to more easily identify and address customer issues.
It can also help firms better target marketing campaigns and product offerings.
Talk to your data engineering or data teams.
If you can talk to individual data scientists and data engineers in your organization, take them out to coffee.
See if they have an opinion on creating a central database or set of data warehouses that all departments can access and update.
You might be surprised at how much support you get from this one conversation.
2. Identifying customers across different channels
Data that has been unified can also help you paint an accurate picture of customers who interacted with your brand across multiple channels.
This helps provide a more consistent customer experience, regardless of how the customer interacts with you.
It can also help you better understand how customers are interacting with your competitors brand, and what channels they prefer.
And you know what's cool?
Once you're done unifying data into one platform, machine learning and natural language processing automates the interpretation of all that data.
3. Measuring customer lifetime value
Customer lifetime value (CLV) is a metric that measures the total value of a customer over the course of their relationship with your company.
Unified data analytics can help you measure CLV by bringing together data from multiple sources, such as social media, surveys, call center interactions, chatbots, and CRM systems.
This helps you get a more complete picture of the customer journey and identify opportunities to improve customer experience.
Having trouble presenting return on investment for CX programs?
This is your key right here.
4. Improving customer segmentation
Customer segmentation is the process of dividing customers into groups based on shared characteristics.
Unifying your data can help you improve customer segmentation by allowing you to more easily identify patterns and trends in customer behavior.
This means that you can better target your marketing efforts and product offerings to specific groups of customers.
5. Enhancing customer profilingCustomer profiling is the process of creating a detailed profile of a target customer.
Unified data can help you enhance customer profiling by bringing together data from multiple sources, such as social media, surveys, call center interactions, chatbots, and CRM systems.
This helps you get a more complete picture of the target customer and identify opportunities to improve customer experience.
For example, you might learn that your target customer is more likely to respond to marketing campaigns that offer free shipping.
Or you might learn that they prefer to interact with customer service through chatbots.
These are important datapoints to have when you invest in the right technologies.
How Struggling Companies Are Doing It Today
Multiple, often overlapping Customer Feedback Management (CFM) services or specialized VoC tools are often found within the same enterprise.
Usually because they're purchased by different departments at different times to meet different goals.
As the enterprise grows its CX operation becomes more sophisticated.
This is where it's almost always advantageous to combine these tools into a unified source, to improve coordination and insights-sharing between units.
Not to mention avoiding pitfalls like duplication of effort or worse, miscues or dropped balls leading to a worse customer experience.
My Advice To CX Leaders
If you are a CX leader putting in place or revising a VoC platform, chances are you need professional services.
Beyond the simple rollout of new information systems, that is.
Deciding how best to leverage new types of qualitative and quantitative data into new insights can be a daunting task, even for seasoned managers, in part because the sources are constantly evolving.
For example, a few years ago the only audio recordings most companies would deal with came from call centers and followed predictable scripts.
Today, voice-enabled smart speakers in customers’ homes generate voluminous unscripted but highly relevant data about customer-brand interactions.
Nearly all of these data sources are still untapped.
The best analytics platforms offer end-to-end professional services to help clients make the most of the systems they integrate.
Organizations who want to remain competitive in the age of the customer must invest in unifying their data.
This technology can help you solve many of the most common customer experience problems, including customer segmentation, customer profiling, and identifying opportunities to improve customer experience.
But you must also resist the urge to take this decision likely.
When choosing a unified data vendor, it is important to select a vendor that offers end-to-end professional services to help you make the most of the technology.
Otherwise you risk significant organizational debt and a damaged reputation.
I hope this article has been helpful. If you have any questions or comments, please contact us. And thank you for reading!