Using File Analytics to Optimize the Customer Journey
By Torey Hunt | January 11, 2019
3 minute read
Customer journey mapping is a very powerful tool for companies to understand how their customers interact with them; describing, in detail, the process they go through from initial contact to initial purchase and any renewal or retention beyond. Mapping the customer journey is useful in understanding their needs and pain points, and tying those to the various touch points a customer has with the company along the way.
However, simply having a customer journey map isn’t enough – it’s one thing to know how a customer interacts with a business, quite another to take that insight and improve the overall customer experience. Enhancing or optimizing the customer journey allows companies to provide better and faster service, improving the overall customer experience while aiding in customer retention.
Customer journey mapping and file analytics
When it comes to enhancing the customer experience, one of the best ways to do so is with high-quality data obtained through the application of file analytics.
Research has shown that most enterprise organization have approximately 100 terabytes of unstructured data lying dormant and unused. File analytics can enable an organization to put this data to use by transforming it into high-quality structured data. Doing this allows the company to put its previously “dark” data to a variety of different uses, such as providing customers with a more personalized experience and/or improving customer response time, which will ultimately optimize the overall customer journey.
Three ways file analytics can help improve the customer journey
1. More personalized service
Accessing and utilizing unstructured data can provide a more accurate look at what customers are seeking by enabling a company to view an individual customer’s entire journey when it comes to their interactions over time with the organization. This allows for the creation of more comprehensive customer profiles.
These profiles can then be used to make more personalized offers to customers based on their history. For example, banks in the U.S. have used enhanced profiles, pairing them with transactional data they have at their disposal to create custom offers to entice their customers to spend money at specific vendors. This practice has encouraged more customers to purchase from those retailers, which, in turn, has increased revenue for the banks.
2. Faster customer service
Unstructured data that has been transformed into high-quality structured data, has the power to be immediately leveraged by organizations, especially in areas of operations where speed is of the essence: namely, customer service. In today’s digital focused business landscape, companies that rank high in customer satisfaction are the ones that put all of their data into play (collected at multiple consumer touchpoints) to immediately identify customer issues, and prescribe the best course of action for resolution.
Consider a credit card company that collects data on your daily purchases, spending habits and preferred vendors. Using this data, they’re able to instantly recognize when a transaction is posted that’s outside the scope of your usual activity. Systems are then immediately routed to put a hold on your card and notify you by text, email or push notification on how to review this activity for fraudulent behaviour. And all this within seconds! File analytics can prime an organization’s data so that it can instantaneously serve customers in situations like these, or even prompt them to self-serve.
3. Improving customer trust and loyalty
As the market provides customers with ever more options, being trusted is an important consideration for consumers, especially as people grow more aware of the factors that affect the safety of their data.
In the last few years, there have been a number of high profile data breaches where the personally identifiable information (PII) of millions of customers was compromised. Even if a particular company has never had a data breach, the possibility always exists and people are increasingly aware of this fact. Using file analytics to find, identify and manage sources of PII allows businesses to assure customers that their data will be safe. This creates a level of trust that can smooth multiple steps along a customer’s journey – particularly those that involve sharing information – and can fundamentally separate businesses from competitors that can’t promise the same level of protection.
Having a customer journey map is a great first step to gaining a deeper understanding of the customers that a company serves. Taking that understanding to the next level, however, is even more important in growing and maintaining that relationship, allowing companies to provide more personalized service to their customers, improve response time and create a greater sense of overall trust and loyalty.
Adlib Elevate delivers better data for digital business. By enhancing access to your data, its quality and efficiency, you’ll be able to derive actionable insights that enhance each customer’s experience and your bottom line. To begin enriching and improving the quality of your data, contact us to set up a hands-on solution overview.