8 Reasons Why Business Intelligence is Critical for CX Excellence

Rebekah Carter

41% of tech companies reported rise in customer demand for BI

Strategy
8 Reasons Why Business Intelligence is Critical for CX Excellence

With demand for business intelligence steadily growing (41% of tech companies reported a rise in customer demand for BI in a recent survey), one of the key applications areas to emerge is CX.

Improving CX – spread across marketing, sales, and customer services – make up a large portion of Bi implementations. BI-survey.com found that sales were the no.3 consumer for business intelligence in an enterprise (62%), with marketing coming in at no.7 (46%), and services at no.11 (31%). This is because BI tools can reveal vital insights into your complex customer audiences and simplify routine tasks.

Here are the eight most compelling ways to leverage BI for CX:

  1. Obtain omni-channel customer insights

BI solutions can integrate with a wide variety of data sources including real-time data streams from social media, unstructured data from call recordings, and structured data stored in your CRM. This lets you consolidate omni-channel customer information in a single repository and gather insights that apply to a connected CX journey.

  1. Get reports in real-time

Automated report generation is among the most popular drivers behind BI adoption. You can configure the solution to churn out and deliver reports at regular intervals, removing the need to manually check on dashboards. Real-time data can be used to trigger events like campaign messages.

  1. Obtain leadership buy-in for data-driven decisions

While marketing and customer service consumes a sizable portion of enterprise budgets, its ROI isn’t always immediately evident. Robust business intelligence prevents leadership from viewing CX as a cost centre, clearly mapping its correlation to business impacts.

  1. Collaborate with CX stakeholders more meaningfully

BI platforms come with powerful collaboration capabilities – for example, native integration with Slack or Teams, in-app report sharing, note taking and action items, etc. This lets you interpret data in a collaborative manner, gaining from the team’s collective intelligence and diverse perspectives.

  1. Connect business with IT

Ownership for data projects isn’t always clear, which leads to data-backed CX initiatives being abandoned before reaching maturity. Business intelligence, by its very definition, is business user-friendly and requires very little intervention from IT.  With IT looking after solution hosting and maintenance, CX professionals can take charge of data interpretation and analysis.

  1. Automate customer engagement campaigns

This is a major reason why you need embedded BI in CX solutions. Business intelligence metrics and data thresholds can serve as automation triggers, initiating workflows based on market conditions. For example, if a BI tool reports an average login time slot for a customer, you can schedule marketing emails accordingly.

  1. Anticipate market demand and acceptance

At a high level, BI is critical for market assessment, CX planning, and product localisation. You can analyse historical market trends, competitor performance, and focus group/beta response to anticipate customer behaviour in unfamiliar conditions.

  1. Improve root cause analysis with contextual insights

Finally, BI dramatically speeds up root cause analysis for CX incidents. By studying the conditions around an adverse event, you can zero in on the root problem and prevent it from recurring.

 

 


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