Magazine article CRM Magazine

Is It Time to Moneyball Customer Experience? Create a Competitive Advantage by Looking at Data through a Broader Lens

Magazine article CRM Magazine

Is It Time to Moneyball Customer Experience? Create a Competitive Advantage by Looking at Data through a Broader Lens

Article excerpt

THE TERM "moneyball" comes from a popular book and subsequent film about the Oakland Athletics baseball team and their general manager Billy Beane. The story highlights how the team became extremely competitive despite having one of the smallest payrolls in Major League Baseball. The secret? It made effective use of data and analytics to make better decisions. Beane changed the way baseball executives look at data and created a legacy with his unconventional approach, now used widely throughout Major League Baseball.

Like Billy Beane, customer experience professionals seek to create a competitive advantage. Those who become successful will think about customer data as more than merely customer sentiment and perception. They will explore unconventional approaches to leverage the increasing amount of data available and create a holistic understanding of the customer. And they will use predictive and prescriptive analytics to create an experience customers recognize, value, and reward.

It's time for all customer experience professionals to think more broadly about the customer data they use to guide business strategy and customer-focused initiatives. CX leaders can create better insights with data by following these six steps:

1. Set your sights. Billy Beane had a goal: win games and make the playoffs. Customer experience professionals should start with a similarly clear understanding of what will have the greatest impact on customers. Consider systems and processes that can be modified to improve the experience. Determine how the company can do a better job of anticipating customer needs. Identify the biggest challenges encountered by customers. Having clear and specific objectives will guide the data gathering and analysis and ensure a meaningful initiative.

2. Call in the geeks. Different skills are essential for leveraging big data to create actionable insights. Whether one person wears multiple hats or a couple of people are involved, the geeks represent the roles that are inherently involved. During this stage, those in various roles are called upon to clean and map the data, apply analytical techniques to identify patterns or anomalies, and listen to and interpret what the data are saying.

3. Make connections. Information access is a common barrier for CX professionals. …

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