The demand for data is growing
The data-driven landscape is an environment in constant motion.
Every day, we create around 2.5 quintillion bytes of data, and that number just keeps growing.
That’s because information is the most valuable thing that any business can access. Whether it’s data about your customers and what they need from you, or insights into your agents and what makes them more productive, data is how we make better business decisions.
In the communication and collaboration landscape, embracing tools that allow us to curate, analyse, and understand the endless data that we produce every day can promote amazing results. Not only will this information make your team members progressively happier and more productive, but it could help to set you apart from your competition as a leader in customer satisfaction.
In an era where knowledge is definitely power, here’s how data is impacting the communication landscape via analytics.
Just as market research is the foundation of most marketing strategies, conversational research is the key to better communication. According to IDG’s report for the State of the CIO in 2020, 37% of IT leaders believe that data and business analytics will drive the biggest investment for their companies going forward.
Although manually collecting and evaluating the vast amounts of information captured through calls, conversations, and text messages every day would be impossible, we now have new assistants to help us. Artificial intelligence tools can be designed to gather information according to strict rules. This means that businesses can collect useful insights about their audience and their teams, without neglecting the rules on data privacy implemented by guidelines like GDPR.
Automated analytics strategies allow businesses to consistently collect information about things like call handling time, customer satisfaction, and even employee productivity, without having to deal with complicated back-end information. Everything from CRM technology to contact centre tools and workforce optimization services can churn out useful insights at the touch of a button.
It’s this automated and accessible analytical environment that makes it much easier for businesses to streamline their strategy for better employee and user experience.
One of the most obvious and popular ways to access analytics is to use the information that your business collects to learn essential things about your audience. Experience is the key to building a reputable company today, and business leaders can optimize their CX with analytics, by evaluating everything from customer sentiment, to how long it takes for a call to be processed.
With analytical tools built into the contact centre, it’s easier to evaluate the potential roadblocks and issues that might be preventing you from delivering the most meaningful moments to customers. For instance, business leaders can embed analytics into the contact centre to:
It’s not just the customer experience that benefits either. Analytics also provides a way for business leaders to track the performance and potential of their teams, wherever they are. With analytical tools and workforce optimisation systems, business leaders can even ensure that remote workers continue to be productive and engaged at a distance.
As businesses search for ways to reduce overheads and improve employee engagement, the analytical world means that your agents don’t have to be out of mind when they’re out of sight. You can even help to keep team members motivated with leaderboards and gamification.
Aside from improving the customer and employee experience, analytical tools, and in-depth data management makes it easier for businesses to keep their communication strategy running smoothly in any environment. Omnichannel analytics means that today’s ventures can track the outcome of a conversation across every channel and determine which avenues are delivering the most return on investment.
Additionally, business leaders in the analytical space are also using things like machine learning and artificial intelligence to provide new strategies to help secure businesses and consumers against things like toll fraud and robocalls. Analytical systems with artificial intelligence built into their core can assess various biometric components within a caller’s voice to automatically determine whether a call is genuine or not. With fraud and security modules, businesses can implement everything from automated recording to systematic call blocking that keeps risk to a minimum.
Speaking of call recording, analytics has a part to play there too. With the right data and analytical tools, business leaders can ensure that their recording strategies aren’t falling short of compliance requirements. Tools can be implemented to ensure that only the right information is stored for the most appropriate amount of time according to regulations.
As the guidelines around which information can be accessed and stored continue to grow stricter, analytical tools will evolve to give business leaders more granular control over the data they use.
While information has always been powerful in the business landscape, we’ve only recently arrived at a point where we can unlock much of the dark data that exists in the communication space.
For years, we were unable to truly dive into the deeper details of conversations in everything from phone calls to chat. Now, thanks to artificial intelligence, the issue of having to manually sort through information is gone. Business leaders can quickly and easily pluck useful insights out of data to learn about everything from customer experience to employee performance.
The only caveat is that with access to all of this incredible knowledge, there are a few restrictions. Data can be a powerful thing, but it needs to be used correctly. Future leaders need to think about not just what they can do to unlock data, but how they can make sure they’re using that information ethically and responsibly.
I hope you enjoy this year’s CX Market Guide. Remember to watch this space for more updates and insights from the world of CX technology.