Data-Driven Decision Making: Laying the Foundation for Successful CX Strategies

    Data-Driven Decision Making Laying the Foundation for Successful CX-01

    With data becoming immensely complex in today’s environment, the ability to refine and extract the right insights can help an organization to lay a foundation for successful customer experience strategies.

    With the advancement in cloud computing and martech technologies, data has exploded at an unprecedented rate. With customers constantly asking for content and expecting to get deeper insights about the product or services, brands had no choice but to split or reframe content into bits that are easily consumed by their target audience. This allowed organizations to get insights into the behavior of their customers and thus improve their customer experience.

    However, the complexity of data is also increasing due to the diversity of information across multiple platforms. This makes it critical for marketers to collect their data in real-time and tune their activities to proactively meet and exceed their customer expectations. Today’s marketers are responsible for adding more data into their decision-making processes, especially given the technologies available at their disposal.

    Also Read: Marketers Guide to Reach Their Audiences in a Cookie-Less Future

    While automating decisions is not a new area of focus for marketers and CX leaders, it is becoming increasingly important when considering automating decisions related to CX due to pandemic-induced digital behaviors.

    Here are a few reasons that make the strong case for data-driven decision-making to drive the success of CX strategies:

    • Data helps to get customer context 

    Data obtained from analytics as well as CRM systems can help marketers with much-needed customer context for making better campaign decisions. Not only that, but these tools can help to build the foundation brands require for automating these choices as they advance in their respective initiatives. Furthermore, brands can capitalize on data to understand things such as segment behavior that will enable them to offer personalized experiences. In conclusion, they can understand what motivates an individual and their influence value.

    • Data-driven automation helps to take the next best action 

    Using automation technologies driven by data, marketers are equipped to generate targeted leads that are listed and are later submitted to a central decision engine. Next, this engine utilizes a combination of predictive analytics and machine learning, business rules that are predetermined constraints for developing a list of potential offers for every customer. Whenever a customer visits an included channel, the channel contacts the central decision engine for a list of various possible offers.

    Also Read: Data Driven Marketing – Why Businesses Need to Update their Strategy

    Marketers, thus, should carefully evaluate the chosen automation platform and ensure its decision-making process aligns with the overall organizational goals. When correctly deployed, these technologies can help brands to optimize customer offers in real-time for providing the best possible customer experience.

    • Stream data fuels decisioning

    Most brands have data streaming that lets them address their data pipeline issues, recognizing its value in the overall decision-making process. While streaming data is not new, the way to handle it has significantly changed in the past few years.

    Today, data streaming empowers marketers to capture and aggregate large amounts of customer data that they can use to fuel automated marketing processes. They can also do it in real-time to ensure customers receive seamless experiences.

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