How does your company compare to the leaders in customer data, based on our research? Take this quick assessment to find out.
To improve your organization’s customer centricity, we recommend the following:
1. Go beyond basic data
Collecting sales and service data is just the beginning. To truly gain a competitive edge, focus on the customer data that sets your company apart. Product usage data is invaluable for this. Use it to understand where customers use your product, the challenges they face, and the features they love most. This insight will innovation and enhance customer satisfaction.
2. Focus on quality and usability
Customer-obsessed and -clairvoyant companies not only collect significantly larger volumes of customer data, but their data is also of superior quality compared to the rest. Additionally, these companies diligently label their data with metadata, enhancing its usability and value.
3. Deploy product management principles
Customer-obsessed and -clairvoyant companies take a product management approach to unlock insights from raw data. This means not only using data from sensors and apps, but also from websites you don't control i.e. social media sites on which customers talk about your products, and product review sites and delivering the insights to relevant functions to enhance existing offerings and create new ones.
4. Build a global data office (central data office)
Most customer-obsessed and -clairvoyant companies have instituted a global data office and evolved them to get more useful insights from their data than the rest. Their global data offices are more than just arbiters of a common data policies and standards—they act as a center of excellence, setting guidelines and overseeing architecture, platforms, governance, and the enterprise-wide coordination of data and AI as well as providing specialists who have hard-to-hire skills.
5. Use genAI strategically
Customer-obsessed and -clairvoyant companies have strengthened their data foundations by putting new technologies, especially GenAI, to use where it mattered most: to cut cycle times, apply metadata extensively, and to analyze new types of data such as unstructured data such as video and audio files. They also use GenAI to drive innovation by focusing on areas such as improving website and product usage experience and helping product developers improve and innovate their offerings.
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