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#CXO chat recap: Experts weigh in on how data drives the customer experience advantage

January 30, 2014

With so much potential for big data, it’s important to take a step back and examine what can actually be accomplished with it. In the #CXO (Customer Experience Optimization) Twitter chat on January 27, 2014 there were several opinions on whether data always creates an advantage. Thanks to guest hosts Stephanie Thum (@stephaniethum), VP of Customer Experience at Export-Import Bank, and William McKnight (@williammcknight), author and president of McKnight Consulting Group, for leading a spirited conversation!

How can we understand customers better? How can data help enlighten us where typical feedback loops cannot? And how can we access the best data? It seems everyone was looking for answers.

And data, it seems, may not be black and white.

It’s all about context.

Data without context of who your customers are leads to incorrect assumptions. Understanding just who your customers are is the only way to deliver a superior experience.

The important thing is to start using the data. It’s difficult to use all the big data all at once! Start small and think of how to track progress.

The product and service mix is part of what you need to know, test and re-learn on behalf of your customers.

Of course, data only answers the questions we ask of it. Asking the right questions (in the right ways) is critical to gaining the best, most valuable insights from data.

Data can help you prevent customer churn. But how?

And know the signs of who they are before they leave you!

The bottom line really is all about gathering the right data through the right questions, having the right people looking for those insights and knowing who your customers are and how they might benefit.

What would you add to this conversation? Join us for another #CXO chat every Monday at 12:00 pm EST.