Omni-Data: The Future of Omni-Channel
The channels which customers routinely use to contact a company are constantly evolving and growing. Businesses that understand how to provide their clients with a consistent experience while leveraging the insights gathered within each discrete channel, are gaining market share, cutting costs, and increasing profitability. The key to success lies in an effective Omni-Channel strategy that encompasses monitoring across all channels, as well as a combination of data sources to provide a true view into each customer’s needs and wants and how to deliver most efficiently.
While most companies have embraced the fact that effective quality monitoring must include “voice of the customer” omni-channel monitoring, many don’t capitalize on all the other data sources that can be integrated to provide deeper and more powerful business insights. At The Northridge Group, we have expanded the omni-channel concept to a broader classification we refer to as “omni-data”. There are three sources of omni-data that we advise organizations to integrate into their monitoring data to get a much richer and comprehensive picture of customer needs and wants; influencing market forces and trends; and the impact of business issues, goals and results.
1. Unstructured Voice of the Customer Data:
While this includes the traditional channels of calls, email, chat/web, and social media, it also encompasses the wealth of information that can be gleaned from additional data sources such as CSR notes, surveys and data collected from virtual agents.
2. Structured Enterprise Data:
This includes data sourced from product profiles, CRM/ERP data, operational data, customer demographics, account rep information, metrics & scorecards and partner companies.
3. Market Benchmarking Data:
This includes customer data that organizations can pull in to get a market-based reference for making decisions such as economic growth/GDP, disposable income, customer growth, customer preferences, raw material prices, technological advancements and government regulation. This data answers questions such as: What is the market doing? What are your competitors doing? What does growth look like in your industry vertical? What government regulations are being passed?
When supplementary omni-data is combined with data sourced from traditional omni-channel monitoring, the result provides organizations with greater possibilities to make better decisions. Better decisions yield better results.
The Northridge Group has the tools, expertise, skill-sets and analytical capabilities that uniquely qualify us to help clients optimally process their omni-data to extract business insights. Our exclusive Advanced Data Analytics Framework is centered around four pillars:
Strategy: Define the business problem and develop a hypothesis
Governance: Identify stakeholders and integrate systems
Actions: Utilize data driven guidance and test/confirm hypothesis
Visibility: Validate/refine KPI’s and utilize feedback
When omni-data is fully analyzed, a holistic picture of customer, business and market trends begins to emerge. The Northridge Group helps clients better understand how to leverage the power of quality monitoring combined with additional integrated data sets. when omni-data is synthesized and analyzed properly, it yields an explosion of business insights and information that helps organizations make better business decisions and improve their performance.
If your organization needs help collecting or, more importantly, processing omni-data to make better business decisions, The Northridge Group can show you how. We encourage our clients to think bigger than omni-channels; to think omni-data!