How Big Data is Used to Increase Customer Service and Grow the Economy
Years ago, you probably went to the same shop to buy your groceries. The shop owner knew you and could even remind you of an important birthday because you bought birthday products like paper cups from them. They understood your routine and had a personalized approach towards you. That is why you went back. Now, you shop online or at big retail stores. They can still cater to you personally, only this time that they need ways to help them improve the customer experience. This is one of the reasons big data is important in improving customer experience and services. Data analytics has enabled companies from all over the globe to be able to predict the tastes and preferences of their customers. Consequently, firms that have embraced big data have won a significant chunk of the market share and have realized a better return on their investment. In contrast, companies that have refused to incorporate big data in their operations have been seen to struggle financially and not competitive.
There can be many similar or fewer products in a market. However, as time moves and technology continued to evolve, customer experience has been the difference maker between brands today. According to different studies, over 90% of consumers do not mind paying more for a better customer experience. This is the reason why customer experience is a top priority for brands that want to expand on their market share.
These circumstances have made companies eager to use the latest and most proven methods of analyzing customer experiences like data science and big data. Big data is the representation of a lot of information that has to be analyzed through programming to show trends, patterns, and associations that are linked to human interactions and behavior. We aim to educate you on the value of big data to customer experiences and how it increases customer service.
While discussing big data with relations to the customer experience, you have to mention the type of data involved. This type of data is raw, very large, time-sensitive, and unstructured. The data can be from your digital devices or platforms that your customers use like:
• Social media
• Your website
• The customer service call center.
The data cannot be processed or analyzed using traditional methods and database processes. The different approach is called big data. The big data process is a substitute for traditional methods that cannot process the data fast enough or at all to give the data meaning and insights. The processing of big data is a new way of information analysis. The end product of big data processes is to show the company gainful insights on clients’ behaviors and preference patterns.
Big data is also used to create demonstration models that are almost real for running real-life scenarios. For example, you can use big data to analyze and determine sales volumes for products priced differently.
The best methods to improve customer service through big data are yet to be discovered and tested on the market. Even so, the methods being used now are working just fine. Here are a few methods you can use to improve customer service today.
