|By Business Wire||
|March 20, 2014 08:04 AM EDT||
Ventana Research this week released the findings of its latest benchmark research, on the topic of customer analytics and its intersection with next-generation technologies including big data, cloud computing, mobile technology and social collaboration. The research study was sponsored by Transera, the Customer Engagement Analytics in the cloud company.
The research explores how customer analytics impact organizations’ performance and how technology is being used to improve the efficiency and value of their business processes. The findings in this new research, the latest from the leading business and technology market research firm, have yielded important best practice recommendations for gaining value from customer analytics. Notably, the research finds a great deal of dissatisfaction with the current use of customer analytics: Only 15 percent of organizations are fully satisfied with their efforts. Contributing to this are a number of factors, including the use of spreadsheets universally or regularly by more than half of organizations (52%); 57 percent say that their use has made it difficult to produce timely and accurate customer analytics.
Applying analytics generates insights that enable business to take better action faster and improve the effectiveness of many business processes, chief among them those related to customers. Three out of five organizations view big data as contributing to the advancement of the use of customer analytics, and particularly the use of predictive analytics that can deliver more sophisticated, forward-looking and relevant metrics and information to help guide actions and decisions. Unfortunately, though, the research finds that almost half of organizations are trapped in a data quagmire, spending more time on preparing and reviewing data than on the analysis itself. This impacts the time available for analysts to do the real value-adding work of gaining insights on customers. These data challenges can impede what according to the research is the most important reason organizations apply customer analytics; close to two-thirds indicate that is to identify customer service improvements, create customer service strategy and improve customer experience processes.
“The opportunity to exploit customer analytics is available to every organization that has useful information that can be acted upon,” said Richard Snow, VP and research director at Ventana Research. “The lack of clarity about where to make improvements and lack of insight on how customer engagement can be optimized is exactly what customer analytics done properly can address.”
This research also finds that the most important technology innovation that can be applied to improve customer analytics is collaboration. This is critical to derive maximum value since interactions with customers happen today across a number of business areas. Being able to collaborate contributes to the most important benefit in 55 percent of organizations identified, an improved customer experience.
“As customers continue to interact with companies through multiple channels, it is critical that they establish a unified view of customer interactions across these disparate systems,” said Prem Uppaluru, president and chief executive officer of Transera, the leading cloud-based customer engagement analytics provider for contact centers. “Companies that build and maintain such a unified view understand their customer care program results better, know what they are like to do business with, and as a result, delight their customers by delivering timely and personalized sales, service and support.”
- Live Webinar: To register for the live educational webinar: “Next Generation Customer Analytics Best Practices Today and Tomorrow: Research Results,” scheduled for 10am PT / 1pm ET today, please sign up here: http://ww2.ventanaresearch.com/NextGenCustomerAnalyticsWebinar__Registration.html?cs=Transera
The webinar will feature findings from Ventana’s study and will provide insights to guide executives and managers to understand:
- The impact multiple channels of interaction have on customer experience
- Why spreadsheets cannot meet new business demands
- How a better mix of metrics can improve business outcomes
- How a dedicated approach can increase success
- On-demand Webinar: To pre-register for an on-demand version of the webinar please sign up here: http://www.transerainc.com/webinar/BestPracticesinNextGenerationCustomerAnalyticsReg/
- Executive Summary Report: To receive the Research Executive Summary Report, Ventana’s “Next Generation Customer Analytics,” please visit: http://www.transerainc.com/report/NextGenerationCustomerAnalyticsSummary/
About Transera Inc.
Transera makes sense out of diverse customer interaction data so that sales, marketing and customer service and support organizations can increase sales, retain customers and improve customer satisfaction through improved customer experiences. A pioneer in cloud-based analytics-driven systems for contact centers, Transera brings data together in the cloud from automated call distributor (ACD) applications, interactive voice response (IVR) systems, customer relationship management (CRM) applications and other customer data sources such as demographic services so that contact centers can analyze, understand, manage and automate customer interactions in new and innovative ways. The Transera Customer Engagement Analyzer is an interactive analytics application to perform analysis on customer interactions and agent activity to determine what produces the best business outcomes. These insights can then be used to change the behavior of agents and on-premise and cloud-based contact center systems to drive better performance and customer experiences. Today, industry-leading companies such as Wirefly, AON, Office Depot, TiVo and Guthy-Renker are leveraging the market-leading contact center solutions from Transera. www.transerainc.com
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research's insights, as do highly regarded media and association partners around the globe. http://www.ventanaresearch.com/