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Companies today want insights about their customers in an effort to understand their needs and behaviors to be able to deliver optimal customer experiences across all touchpoints. The challenge of leveraging Big Data appears to be a ubiquitous problem. According to a number of studies, it is often cited that 80 percent of all business data is unstructured, be it qualitative data in spreadsheet, video, audio files from the contact center, or external data from social media, online communities, and third-party providers.
The sheer volume and variety of data, including its different forms and how it's structured (demographic, behavioral, transactional, etc.) makes tapping into Big Data a tricky job. Understanding how to effectively leverage this multitude of unstructured insight requires a holistic approach around capturing, analyzing, and acting on customer data. Building a process that incorporates these three steps increases customer lifetime value, enhances loyalty, and drives improvements in organizational performance.
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