One of the most popular tweets in our CXMChat Tweet Jam yesterday went like this: "Data has no value. Action on data has value. Connecting data to action is ROI". Here's the thing. Organizations collect a lot of data. But is it the right data? And what are they doing with it that leads to greater sales and more satisfied customers? A marketer can get lost in the details.
We did well yesterday to avoid the spambots as long as we did. And for the record, unfortunately, no one who attended is getting an iPad — or iPhone — from CMSWire. But we can offer though is a recap of the discussion (or the full Tweet Jam archive if you want it all).
Keeping Up With the Customer Experience Customer and Web experience strategies are changing all the time. As people have access to more social networks and share more information, the amount of data that can be collected is huge. Add to that all the standard analytics that are captured daily and the mounds of customer information stored in business systems and it's a wonder marketers aren't sure which way to turn.
[ View the story “Q1: How are CXM/WEM demands stretching Analytics and Decision Support tools today?” on Storify ] Q1: How are CXM/WEM demands stretching Analytics and Decision Support tools today? Storified by CMSWire.com · Thu, Sep 20 2012 09:02:30
Q1: #cxm and #wem are stretching analytics because the entire customer's story should be tracked and analyzed not just hits & views #cxmchatPeter Iuvara
#cxmchat Q1: We need to move from reporting of counts to meaning behind user interactions.Rich Blank
Q1 Privacy is another challenge – as websites gather more information about our personal habits, how will consumers react? #CXMChatCoreMedia
Q1 - Analytics shifts focus from the backend app to the front end experience / users to customers. It is a 180. #CXMChatDavid Hillis
Q1 - for full #CustomerIntelligence, data comes from many disparate sources, cust identity resolution can be complex #CXMchatJulie Hunt
Q1 The problem isn't data, we've got too much of it already. It's turning data into insight into outcomes that move the needle. #CXMChatTom Wentworth
Q1 Mant existing data management technologies are not capable of responding to the increased volume and pace of CXM #CXMChatCoreMedia
Q1 The tools are continuously being developed, but they aren’t growing fast enough to keep up with demand for info. #CXMChatDiane Buzzeo
Q1 - Orgs are being stretched more than tools - need for new expertise, X-departmental data sharing, new mktg-tech roles #CXMchatJulie Hunt
Q1: One issue is that siloed analytics lead to incomplete decisions #CXMChatAnnie
[ View the story “Q1: How are CXM/WEM demands stretching Analytics and Decision Support tools today?” on Storify ] Q1: How are CXM/WEM demands stretching Analytics and Decision Support tools today? Storified by CMSWire.com · Thu, Sep 20 2012 10:21:40
Q1: #cxm and #wem are stretching analytics because the entire customer's story should be tracked and analyzed not just hits & views #cxmchatPeter Iuvara
#cxmchat Q1: We need to move from reporting of counts to meaning behind user interactions.Rich Blank
Q1 Privacy is another challenge – as websites gather more information about our personal habits, how will consumers react? #CXMChatCoreMedia
Q1 - Analytics shifts focus from the backend app to the front end experience / users to customers. It is a 180. #CXMChatDavid Hillis
Q1 - for full #CustomerIntelligence, data comes from many disparate sources, cust identity resolution can be complex #CXMchatJulie Hunt
Q1 The problem isn't data, we've got too much of it already. It's turning data into insight into outcomes that move the needle. #CXMChatTom Wentworth
Q1 Mant existing data management technologies are not capable of responding to the increased volume and pace of CXM #CXMChatCoreMedia
Q1 The tools are continuously being developed, but they aren’t growing fast enough to keep up with demand for info. #CXMChatDiane Buzzeo
Q1 - Orgs are being stretched more than tools - need for new expertise, X-departmental data sharing, new mktg-tech roles #CXMchatJulie Hunt
Q1: One issue is that siloed analytics lead to incomplete decisions #CXMChatAnnie Weinberger
Data, Data Everywhere With all that data, the key becomes how to bring it all together in one location (note we are not saying physical location necessarily), so that marketers can make sense of it all. The key here — analytics middleware.
[ View the story “Q2: Is integration of analytics data and analytics middleware a growing demand in your world?” on Storify ] Q2: Is integration of analytics data and analytics middleware a growing demand in your world? Storified by CMSWire.com · Thu, Sep 20 2012 08:44:19
Q2: Per Aberdeen, 45% surveyed cited insufficient integration as the leading roadblock to harnessing the value of enterprise data #CXMChatAnnie Weinberger
Q2 Integration is key to any analytics-to-action processes: data, results from separate analytics solns, biz processes, decisions #CXMchatJulie Hunt
Q2 Sure is. If customer experience is the end goal, we have to understand behavior, everywhere. Middleware solves that problem. #CXMChatTom Wentworth
Q2 Analytics is already at 100%. In everything from planning to measurement. Growth is messaging based on real-time analytics. #CXMChatDavid Hillis
Q2: It’s impossible to move every piece of data to a single data mart and it’s also impossible to wait a week for your results #CXMChatAnnie Weinberger
Q2 My pet peeve. We often talk about "big data" when most struggle with "small data" analysis+action. Solve the 99% problem first #CXMChatTom Wentworth
Q2 Retailers are still learning how to use big data to boost leads, sales. Analysis is required to figure out what works/what won’t #CXMChatDiane Buzzeo
Q2: Absolutely. Whether it's middleware or tighter integrations between analytics and other systems, I discuss it daily w/users. #cxmchatBen Gaines
What's the ROI in Data? The million dollar question? No. Because there is no ROI in data. The ROI comes from taking action on that data.
[ View the story “Q3: How are you thinking about ROI on data and analytics?” on Storify ] Q3: How are you thinking about ROI on data and analytics? Storified by CMSWire.com · Thu, Sep 20 2012 08:48:27
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Tweet Jam Recap: Data Has No Value, Action On Data Has Value #CXMChat
One of the most popular tweets in our CXMChat Tweet Jam yesterday went like this: "Data has no value. Action on data has value. Connecting data to action is ROI". Here's the thing. Organizations collect a lot of data. But is it the right data? And what are they doing with it that leads to greater sales and more satisfied customers? A marketer can get lost in the details.
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Source : cmswire[dot]com
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