Enterprise Insight Deficit is caused primarily by hoards of information distributed among multiple IT and organizational silos and in social media, making actionable Insight challenging to attain. It’s a significant obstacle across the customer and product lifecycle—from R&D to customer service. Lack of insight negatively impacts customer service, engineering and sales teams from better serving customers, selling to their customers, and quickly innovating products and services.
In customer service, you might have noticed certain issues coming to light. Are customer service costs growing? Is customer satisfaction declining? Is customer self-service not deflecting as many issues from the call center as it should? Do your customers feel that your company doesn’t really “know” them and all their interactions with you and prior product/service purchases?
Your product development or engineering group might be struggling with different issues. Are products not making it to market fast enough? Is customer input being excluded from product development because it takes too long to access the information or isn’t shared among teams? Are engineers not leveraging the collective knowledge of your organization well?
And what about your sales and marketing teams? Are sales professionals lacking information about customers in order to better understand and upsell these accounts? Are sales cycles longer than they should be due to the amount of time it takes to discover and correlate account information? Is marketing spending money on tactics that don’t produce results?
These are symptoms of Enterprise Insight Deficit Disorder, and they can inflict significant damage on an organization. To bring much greater insight to your organization the best approach is to begin with the area that suffers most from Insight Deficit, make this your proving ground, and expand from there. Once you have determined which area most needs help, you can focus your efforts there.
CA Technologies provides a showcase example on how better Insight has generated significant value in its customer service operations. CA Technologies consolidates customer information from 74 systems and sources including customer communities, providing much greater insight into its customers, issues resolutions, and more. With this level of insight, CA Technologies has increased overall satisfaction by 40 basis points, decreased time to resolution by 15%, and more. You can watch the full CA Technologies success story here.
Another Coveo customer, IBM Netezza, increased Insight across its operations by creating a single-screen view of all customer support and engineering repositories. Within 30 days of implementation, the company reduced the time needed to identify known customer issues by 67% and reduced duplicate bug submissions to the development team by 50 %. Forrester analyst Kate Leggett fully documented IBM Netezza’s success in a case study.
If you’re interested in finding out how customer service, engineering/product development and sales and marketing departments can overcome these obstacles, you may want to view an eBook we recently published on making 2012 the year of insight for your organization. Please take a look, and share how you’re dealing with these issues. We welcome the discussion.