Every phone call from a customer, every purchase or response to a direct mail campaign, every online inquiry—these are all perfect opportunities for your company to listen to customers and gather valuable insight. Leveraging this wealth of data means you can pinpoint customers’ needs, enhance personalization and deliver a more individualized marketing experience, improving quality of customer service.
Business analytics play an integral role in achieving these objectives. With business analytics, companies can utilize data to create more targeted marketing campaigns that drive response and increase ROI. In fact, a business analytics boom is on its way—global business analytics services spending is forecasted to reach $89.6 billion by 2018, growing at a CAGR of 14.7 percent, according to IDC. All in all, the market is expected to hit $51.6 billion this year.
Recently, InfoCision showcased what business analytics can do to drive our very own service initiatives. In late September at the University of Akron, we hosted a Business Analytics Fair for leaders and support department employees from all divisions and areas of the company, educating employees on the ways they can harness data to improve and innovate. Numerous analytics employees set up interactive presentations that showed how call center analytics, data analytics, marketing analytics and more are already positively impacting our business at InfoCision.
Below are a few key take-aways our employees walked away with that can help your teams, too:
- Focus on Best Time to Reach Customers: We can improve KPIs by recommending, facilitating and implementing best practices in call centers, leading to more profitable business for clients. It’s paramount to focus on the best time to reach people, as well as the times to avoid calling.
- Highlight Useful Data to Enhance Campaigns: By evolving how we interact with data—moving away from generating charts of endless numbers toward providing visual data—we can empower employees with actionable insight to enhance a marketing campaign.
- Facilitate Seamless Collaboration: Through coordination between account staff, IT and other business analytics teams, we can drive innovation and analytical support, helping staff “gain those inches on programs.” By providing immediate and actionable insight, we facilitate quick collaboration on cross departmental projects.
Hopefully our team can inspire yours when it comes to establishing business analytics best practices. So, will your enterprise invest in business analytics? Tell us your plan in the comments section below!