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    Home Big Data and Analytics
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    Data Dilemma: How Silos and Legacies Limit Customer Analytics Success

    By
    Dennis McCafferty
    -
    July 19, 2018
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      1Data Dilemma: How Silos and Legacies Limit Customer Analytics Success

      Data Dilemma: How Silos and Legacies Limit Customer Analytics Success

      Companies face difficulties in delivering real-time, digital customer interactions while maximizing the use of related data, according to a recent survey from Harvard Business Review Analytic Services, SAS, Intel and Accenture Applied Intelligence. The resulting report, titled “Real-Time Analytics: The Key to Unlocking Customer Insights and Driving the Customer Experience,” indicates that legacy systems create most of the problems here. However, businesses are planning to increase their customer analytics spend, so addressing legacies could emerge as part of the solution. More than 560 global business leaders took part in the research. This slide show presents highlights from the survey, with charts provided courtesy of the organizations behind the report.

      2Customer Analytics Investment on the Rise

      Customer Analytics Investment on the Rise

      Seven of 10 respondents said their organization has increased its customer analytics spending over the last year. And 32 percent of those respondents said this spending has increased “significantly.” Only 1 percent said they’re seeing a decline in spending.

      3Connectivity Capabilities to Expand

      Connectivity Capabilities to Expand

      Three of five respondents said their organization currently has the ability to deliver real-time customer interactions across touch points and devices. Nearly four of five said their organization would be able to do this within two years.

      4Interactions Fall Short of Expectations

      Interactions Fall Short of Expectations

      Despite having the tools to do so, only 16 percent of respondents said their company is “very effective” at delivering real-time customer interactions across touch points and devices. Three of 10 even said their organization was “not effective” at this.

      5Need to Scale Decisions and Actions Drives Investment

      Need to Scale Decisions and Actions Drives Investment

      When asked to name the top drivers of increased investment in real-time customer analytics, 69 percent of respondents selected the ability to scale customer-centered decisions and actions across business functions. The designing of contextual engagements across the customer journey ranked second, as chosen by 62 percent of respondents.

      6Legacies Top Analytics Challenges

      Legacies Top Analytics Challenges

      When asked to name the biggest customer analytics challenges, 36 percent of respondents cited legacy systems. Other top challenges include data silos (as cited by 33 percent of respondents), organizational silos (29 percent) and multichannel complexities (26 percent).

      7Actionable Insights From Data Remain Out of Reach

      Actionable Insights From Data Remain Out of Reach

      The findings reveal that 83 percent of respondents feel that its “very” important for their business to translate data into actionable insights at optimal times. However, only 22 percent said their organization is successful in doing this.

      8Inaccessibility of Data Raises Concerns

      Inaccessibility of Data Raises Concerns

      Four of five respondents highly prioritize data accessibility—getting the right data to the right people at the right time. But just over two of five said their company effectively provides this.

      9‘Bumpy Ride’ in Gaining Customer Activity Insights

      'Bumpy Ride' in Gaining Customer Activity Insights

      Nearly three-quarters of respondents said that it’s “very” important to seamlessly access and use all available data—such as that related to customer activity. But only 18 percent said their organization commands this capability.

      10Discouraging Outlook for Experimentation

      Discouraging Outlook for Experimentation

      More than three of five respondents highly prioritize organizational support for experimentation. But just 23 percent said their company effectively provides this support.

      11Frustrations Grow With Analytics Deployments

      Frustrations Grow With Analytics Deployments

      Three of five respondents highly value the capability to deploy proven analytics models and test new ones. But only 17 percent said their company succeeds in doing this.

      PrevNext

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