Chapter 9

Big Data and the Future of Analytics

When you truly measure the satisfaction with the customer experience and turn the resulting data into intelligence you can use, you make the right decisions that lead to success—for you, for your customers, for everyone. That seems as worthy a goal as any I have known, and it is what makes every day for me and my colleagues so challenging and fulfilling.

To compete and win in today's ultracompetitive environment, where consumers are in control and switching costs are very low, the customer experience is more important than it has ever been. Businesses cannot stand still in the field of customer experience analytics; they must continue to push the envelope and evolve—not only products, services, and marketing but also analytics. If businesses don't evolve, they will be overrun by competitors and will cease to exist. There are a lot of examples to look at. Of the 1955 Fortune 500 companies, 87 percent are no longer in the Fortune 500. Some of the companies have fallen out of the 500 but still exist, and others no longer exist, including Studebaker, Bethlehem Steel, Bendix, Sperry, Fruehauf, and Pullman.

Businesses can gain a competitive advantage by having the most accurate, precise, reliable, insightful, and actionable customer experience analytics. Such analytics give companies the ability to make good decisions, decisions that most often will lead to success. The companies that make the best use of their investment—that is, get the ...

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