Studies have shown that even though a lot of companies have a drive to capture data about their business and use it to figure out what to do, more than half of their executives and leaders are not able to access and use the data even though they have a lot of tools and resources devoted to capturing it. Some time ago, consultants looking at what makes companies successful found a strong correlation with whether or not they really tried to use data in decision making and had a strong orientation toward being a data driven organization.
If this sounds like your organization then there are a few things you should consider.
Making data accessible and synchronized makes a huge difference.
Dealing with customers, especially now that we are all restricted from personal meetings and work environments, is becoming a real cross functional team responsibility. When you have multiple groups and individuals reaching out to customers and making commitments it becomes absolutely essential that you have a way to capture everything that happens in the customer experience and make it seamlessly available to all the rest of the organization. Since no one really owns the customer, the sales person almost becomes the coach steering and guiding the customer experience making it essential that the entire team has access to a complete record of what has happened and what the customer has been told. You need to be able to navigate a complex path to get to success while making the customer experience better than your competitors. The only way to do this is with a completely comprehensive source of data that everyone accesses and updates laying out the road map to success.
Data is the ticket to the game, but insights and analytics are the game plan to drive the team to winning the game.
Comprehensive customer data across all the team members as they interact with the customer and as your product lines deliver products and services will get you a chance to manage the customer interaction favorably. When you have comprehensive customer and opportunity data that you are confident in the next step is to leverage analytics. Whether you use data analytics or AI to drive insights into what customers are doing to drive decision making and enhance your personalization of the customer experience the results can only work in your favor. People have to trust the data and have to see benefits from maintaining the accuracy and timeliness of the data. Analytics that give you a better insight and let you have some idea what to do next to move to close new growth opportunities and build customer satisfaction. Data updates and accuracy get help from having the users see real insights that offer directions to help improve competitiveness. Managing data takes effort, keeping it up to date and timely takes time, getting value from analytics provides motivation and drives adoption.
Technology is changing faster than companies are, competition requires continuous change and adoption.
The world is moving faster and faster as technology drives us all to do better with less. If you freeze the methodology and process of managing the customer experience, you will fall behind and not even know why you got out maneuvered by your competitors. Working with partners dedicated to driving data analysis and fast, low cost technology adoption is one way to minimize the organizational stress that comes with change. You should be looking at what you are doing, what others are doing and what technology changes have happened in the past year at least annually. Change is hard, getting behind and losing out is harder. Build change into your planning process and take it seriously.
Integrated Data, and end to end analytics should be your business model.
NEHANET has taken customer needs in the electronics and semiconductor manufacturing market by building an end to end business management tools set to be able to meet the business needs of the next generation of market leaders. Taking care of all the steps of the sales process and new business capture activities is integrated with Revenue Cycle Management for channel partners and contracts. Adding complete manufacturing management for orders, scheduling, manufacturing planning, and shipments provides an end to end, fully integrated set of data to allow you to analyze what is happening in all stages of the customer experience. We see what customers are struggling with and are dedicated to making data work for you no matter what stage of the customer experience you are working on.
To get started taking a look at what you could be doing with your data and how to create a truly data centric working environment, here are a couple of thoughts:
- Identify someone to be the leader for data accuracy and transparency and to drive an analytic mentality across the team in a coordinated way.
- Review the data you generate and how it works together and how the team accesses and uses it in the business. Look for process gaps and improvements that would enhance your competitive positioning.
- Get outside help to evaluate where you are and where you could be. NEHANET offers competitive assessment consultation and can help you break down organizational barriers to change.
- Have a data strategy and an analytic resource to build insights across the organization.
Signup to link with one of NEHANET’s experts to begin discussing how to figure out what you could achieve with a true data centric strategy.