Is it just me, or do you find the acronym for Data Rich, Insight Poor appropriate? Whenever I hear companies talk about this challenge, I think of a leaky faucet. But, instead of water going to waste, I see customer intelligence drip, drip, dripping away.
Companies continue to be faced with a tremendous challenge. And, while the challenge hasn't changed (check out this blog from three years ago), the volume of data continues to multiply.
In order to compete in an environment where customers demand personalized service, customized products, and immediate gratification, customer intelligence professionals must start laying out a plan that includes multiple sources of information. Taking full advantages of existing information sources delivers stronger predictive analytics that can create a truly differentiated experience.
One place to start is the journey map.
Journey maps (or touch point mapping) is a collaborative process that engages customers and cross-functional teams in an exercise to map out the customer interaction points, and highlight critical moments of truth and unique strengths. It is a tool to help companies prioritize where to focus, pin-point the information sources that are available or missing. And, with the right support, journey mapping can be accomplished in relatively quick order.
Let's stop the DRIP.
Photo credit: Maegan Tintari