" Using Big Data to enhance customer relationship"

Know Thy Customer: Strategies for Using Big Data to Enhance the

Customer Experience

Why Do We Need Big Data?

Big Data doesn't include simply more data, but also new streams of it, collected by digital sensors on connected devices beyond phones that make up the "Internet of Things." I(e.g., credit card information), browsing and search history, and data collected by GPS technology, tools such as artificial intelligence, in-memory computing, pattern recognition, and highly scalable NoSQL data storage systems can empower marketers to capture and analyze data on customer activity in real time, and respond as appropriate

Doing Big Data Right Here are eight strategies for capitalizing on Big Data to enhance the customer experience

1. Start with what you have There's no need to throw out the baby with the bathwater. Most mature businesses have already accumulated years of valuable data and models to represent customer behavior. Take stock of existing data sets, develop a strategy to improve collection and analysis models, and build new ones as appropriate.

2. Know what you're looking for Because Big Data is derived from a multitude of structured and unstructured data sources, speak with other departments to understand the sources that contain customer engagement data and information: CRM data, Web analytics, contact/support center data, and business intelligence systems data. The old 80/20 rule still applies: Most of the value will come from a relatively small subset of your data. Part of the analysis process is identifying the most useful data sets

3. Use your intuition, but also test your assumptions Computer analysis can only augment human intelligence, and all good processes are rooted in offline communications with customers and staff. Your staff is still one of the best sources of information on your customers. Rely on experience to define business goals, create hypotheses, and identify problems and opportunities.

4. Understand your options

To understand how its customers consume competing services, such as

Hulu, on its networks, cable giant Time Warner uses sophisticated

correlation solutions that meld publicly available data with local viewing

habits to help clients launch custom campaigns tailored to geographic or

demographic micro-segments of users

5. Home in on the customer journey Marketers often lean on customer journey maps to identify areas for improving the customer experience. Big Data has the opportunity to help replace static, descriptive models of the customer journey with dynamic, prescriptive dashboards that respond in real time to the slightest shift in customer behavior

6. Empower the business user The proliferation of data sources can increase the burden on business users when paired with too many tools and user interfaces. Manage data centrally and use a single tool for creating online experiences that can integrate content from a variety of sources and display real-time analysis from more than one platform

7. Blend data with content

Content marketing has emerged as a top strategy for marketers to enhance

customer engagement. Data collected on digital channels and social

networks can provide valuable insight into the types of information most

engaging to audiences. Combine actionable data with content, and apply

those insights directly

8. Understand the limitations Big Data is not a panacea for all problems, and it can't replace human intuition and intervention. Keep in mind, too, that more data doesn't necessarily mean better data—and that the more there is, the more difficult it might be to identify the information that really matters.

How to Use Big Data to Improve Your Company’s Customer Service

1.Keep Customers happy Providing high quality customer service is vital to keep customers happy. Knowing what they want and need from you is the first step in making your services as top-notch as possible. To fully understand your customer base, you’ll need to conduct in-depth research

2.Product Returns Product returns can seriously damage the trust and confidence of customers. The complete history of all returns should be stored and categorized to be better understood

3.Spam-Like Emailing Regular client contact via automated emails helps maintain customer relationships. It can also spark interest in new or old products and services. However, mistakes in the frequency and content of these emails may cause negative reactions. Clients may eventually view your emails as spam

3 ways companies are using big data to help their customers

1.Predict what customer wants Remember when that shopkeeper had your loaf of bread all wrapped up and ready to go before you even told her that’s what you wanted? Providing that same service for online shoppers based on their past behavior is exactly how companies are using big data to increase customer satisfaction

3. Improve customer service interactions For many companies, leveraging big data is the hot ticket to more effective marketing and product development. But those who are using data to improve their customer service are taking it one step further

4. Identify customer pain points and solve them Most companies know what some of their customers’ pain points are (if they don’t, they aren’t paying attention to their customers) @ Delta airlines, the “Track My Bag” feature on their app keep tabs on their luggage as it makes its way to the final destination

It starts — but doesn’t end with — big data Companies that use big data well excel in sorting through the white noise of data, filtering out the relevant information and drawing insight from its analysis

Twitter Handle: @vkyayan http://in.linkedin.com/pub/ayan-chatterjee/99/401/a76/

Ayan Chatterjee Phone: +918652220925 Vky.ayan@gmail.com