Download as PDF, PPTX
Uploaded byPointillist
Customer Data and Analytics: Making Sense of Today's Technologies
The document discusses various customer data and analytics technologies, emphasizing the importance of unified customer data for enhancing customer experience. It outlines several types of solutions including customer data platforms, business intelligence tools, customer analytics tools, journey mapping tools, digital experience platforms, and journey analytics platforms, each with their respective pros and cons. The document highlights how these solutions can help businesses visualize customer journeys, segment customers, and generate insights without requiring advanced data science skills.
More Related Content
Similar to Customer Data and Analytics: Making Sense of Today's Technologies
Customer Data and Analytics: Making Sense of Today's Technologies
- 1. Customer Data &Analytics: Making Sense of Today’s Technologies Steve Offsey VP of Marketing Pointillist ®
- 2. ® @PointillistView About the Speaker SteveOffsey, VP of Marketing, Pointillist @MarketBuildr Steve leads the marketing team at Pointillist. Prior to Pointillist he was a member of leadership teams at TandemSeven, AIR Worldwide (sold to Verisk Analytics) and Verbind (sold to SAS Institute). Steve speaks and writes about a variety of topics, including customer experience, marketing analytics and agile marketing. Steve earned an MBA and PhD from Cornell University and a BS from MIT.
- 3. ® @PointillistView Today, every companycompetes on customer experience 1/3 consumers say they’ll leave a brand after they have one bad experience… 1/2 would leave after several. ®
- 4. ® @PointillistView Traditional customer datamanagement approaches create obstacles to accessing your customer data ®
- 5. ® @PointillistView® Customer insights aredependent on the availability of specialists with ample skills, tools and time.
- 6. ® @PointillistView Business leaders knowwhat they need to do Unify customer data and match customer identities across touchpoints Visualize real customer journeys Segment customers based on behavior, demographics, and psychographics Rapidly generate insights to understand factors impacting KPIs such as revenue, churn, cost-to- serve, CLTV, etc. Orchestrate personalized multi- channel experiences No requirement for scarce data science & coding skills
- 7.
- 8.
- 9. ® @PointillistView What are CDPs?Primary Users "A Customer Data Platform is packaged software that creates a persistent, unified customer database that is accessible to other systems” Marketing Customer Data Platforms (CDPs)
- 10. ® @PointillistView Pros Customer Data Platforms(CDPs) Unifies first-party, individual-level customer data from multiple sources, to create “Golden Records” Consolidates profiles at the person level and connects attributes to identities Users can create and manage segments Does not require the level of technical skill of a typical data warehouse project Data can be used by other systems for analysis and to manage customer interactions
- 11. ® @PointillistView Cons Difficult to incorporateunstructured data Immature analytics capabilities Most don’t support time series analyses (e.g. how many people did Y before Z but after X?) Many lack advanced identity resolution capabilities such as probabilistic matching Can’t account for anonymous customers More than 80 vendors each with their own definition of CDP Customer Data Platforms (CDPs)
- 12.
- 13. ® @PointillistView Business Intelligence Tools Whatare business intelligence tools? Primary Users “A set of technologies that transform raw data into meaningful and useful information used to enable more effective strategic, tactical, and operational insights and decision making that contribute to improving overall enterprise performance.” Analysts Business Users
- 14. ® @PointillistView Pros Mature, scalable technology Supportsan IT-enabled workflow, from data to centrally delivered and managed analytic content Enables interactive dashboards with visual exploration and embedded advanced and geospatial analytics Large pool of analysts trained in BI analysis and report generation Applicable to non-customer data & analyses Business Intelligence Tools
- 15. ® @PointillistView Business Intelligence Tools Cons Requirestechnical expertise to set up and maintain data warehouse/lake Difficult to do time-based series analyses (e.g. how many people did Y before Z, but after X?) No ability to visualize customer journeys Complex queries may require hours to run High cost per seat may limit the scope of deployment
- 16.
- 17. ® @PointillistView Customer Analytics Tools Whatare customer analytics tools? Primary Users Customer analytics tools “are used to segment buyers into groupings based on behavior, to determine general trends, or to develop targeted marketing and sales activities.” Analysts Data Scientists
- 18. ® @PointillistView Customer Analytics Tools Pros Containextensive libraries of statistical analysis techniques, e.g. analysis of variance, regression, clustering, etc. Include prebuilt models for common use cases, e.g. forecasting, propensity, lookalike targeting and churn/attrition Extendable with your data scientist’s custom models built in R, Python or SAS Most include or integrate with text analytics modules
- 19. ® @PointillistView Customer Analytics Tools Cons Requiresadvanced data science skills to create, train and run models Difficult to do time series analyses or visualize customer journeys Solutions focused on business users lack transparency by only exposing model output to users To perform automated data ingestion, integration, and ultimately machine learning, your data must be mapped to the solution's data model
- 20.
- 21. ® @PointillistView Journey Mapping Tools Whatare journey mapping tools? Primary Users Software that “illustrates customers' processes, needs, and perceptions throughout their relationships with a company.” CX Marketing
- 22. ® @PointillistView Pros Visually communicates yourcustomer’s current experience across touchpoints Captures customers’ emotions and feelings in addition to their actions Powerful for aligning the organization around a customer-centric model Can serve as a change management and governance tool Motivates discussions to identify and prioritize opportunities to improve CX Journey Mapping Tools
- 23. ® @PointillistView Journey Mapping Tools Cons Failto reflect the millions of real-world paths customers actually take since they’re typically based on a small sample of qualitative data Hard for employees to avoid biasing using their own experiences, desires and goals Can’t analyze and influence customer behavior in real time Difficult to directly measure the impact of customer behavior on KPIs
- 24.
- 25. ® @PointillistView Digital Experience Platforms Whatare digital experience platforms? Primary Users “An integrated set of core technologies that support the composition, management, delivery and optimization of contextualized digital experiences” Marketing Product / Operations
- 26. ® @PointillistView Digital Experience Platforms Pros Providesa broad set of tools for digital experience management, including content management, personalization, some analytics Support B2B, B2C and B2E use cases Some include AI and ML for next best offer and next best action Most vendors have large partner ecosystems
- 27. ® @PointillistView Digital Experience Platforms Cons Complexsuites requiring multiple products to be successful Limited connectivity to other data sources (e.g. call center, billing) Some organizations may be challenged by complex integrations, high costs of ownership and steep learning curves Analytics capabilities are typically light
- 28. Customer Journey AnalyticsPlatforms
- 29. ® @PointillistView Customer Journey AnalyticsPlatforms What are journey analytics platforms? Primary Users Journey Analytics platforms “combine quantitative and qualitative data to analyze customer behaviors and motivations across touchpoints and over time to optimize customer interactions and predict future behavior.” CX Marketing Analysts
- 30. ® @PointillistView Customer Journey AnalyticsPlatforms Journey Analytics Core Capabilities Journey analytics combines data unification, visualization, analytics & orchestration
- 31. ® @PointillistView Customer Journey AnalyticsPlatforms Choose the right solution based on your needs Capability Your Needs Best Solution Journey Discovery § Understand and communicate your customers’ actual journeys § Uncover behavioral segments § Measure the impact of customer behavior on KPIs Analyzing customer behavior data across touchpoints and over time to uncover meaningful customer segments and to quantify the impact on your KPIs Journey Mapping § Transform an organization to become more customer-centric § Ideate and communicate journeys for new products or processes Create a visualization of your customer’s experience across touchpoints and over time, as they seek to achieve a specific goal Journey Orchestration § Automate interactions at each step of the journey § Coordinate interactions across channels § Personalize engagement using information about the customer and where they are in their journey Automate real-time, personalized interactions that improve the journey flow and drive desirable outcomes Journey Optimization § Increase the rate and speed at which customers complete their own unique journey to reach an objective A platform to create and test hypotheses to learn how to interact most efficiently with each customer based on their unique journey Journey Insights § A deeper understanding of customers’ needs, behavior and emotions as they seek to achieve a goal A journey dashboard to bring together qualitative and quantitative data to highlight factors with greatest impact on goal achievement Journey Design § Define a hypothetical path and automate the workflow for customers engaging with a new product or service A platform that enables you to create a sequence of customer steps to achieve a goal and automate interactions
- 32. ® @PointillistView Customer Journey AnalyticsPlatforms Easily unify data across all systems tools and sources Allow you to discover and visualize your customers’ experiences Analytic platforms that are built to perform longitudinal, time series analysis across billions of customer interactions AI and machine learning capabilities rapidly discover insights in minutes that would have taken data science teams days or weeks Enable business users and analysts alike to understand factors impacting KPIs such as revenue, churn, cost-to-serve, CLTV, etc. Turn insights into action by orchestrating engagement with your customers at optimal points along their journey, in real time and through the most effective channels Pros
- 33. ® @PointillistView Customer Journey AnalyticsPlatforms Cons Not all solutions cover all CJA capabilities with the same depth or, in some cases, at all Some solutions have extensive features for orchestration, but are not capable of discovering journeys The set of data types and sources that can be integrated may be limited Analytics capabilities in some solutions may be constrained to data from interactions orchestrated by the platform
- 34. ® @PointillistView Unify customer data& match customer identities across touchpoints Visualize real customer journeys Segment customers based on behavior & demographic traits Generate insights to understand factors impacting KPIs like revenue, churn, cost-to-serve, CLTV, etc. Orchestrate multi-channel, personalized experiences Advanced data science or coding skills NOT required Journey Analytics Customer Data Business Intelligence Customer Analytics Digital Experience Journey Mapping Summary: Solution Comparison Strong Medium Weak
- 35. ® @PointillistView Thank You! Pointillist customerjourney analytics software rapidly uncovers customer insights, so you can dramatically improve marketing and customer experience. Powerful Insights. Visualized. Actionable. Journey Visioning Platforms WAVE LEADER 2018 REQUEST A DEMO