Data-Driven Decision-Making: The Key to Effective Brand Management

Decision-making is a critical element for any brand. But what is the best way to critically analyze the available options and make the correct decision? With the advancement of technology, data has empowered brands to make decisions based on informative analysis instead of relying only on intuition, experience, or internal discussions.

With the continuously evolving business landscape, it has become increasingly important for organizations to go beyond traditional methods of decision-making and instead choose data & insights for well-informed decision making.

How Data-Driven Decision-Making Helps Organizations?

1. Customer Journey Mapping

Organizations must utilize data to map the customer’s journey and identify their pain points. Based on observations, brands can make decisions that reduce customer effort, ultimately adding to the customer experience.

Data-driven decisions make it easy for organizations to take crucial actions on making the customer journey smoother as well as upgrade the quality of deliverables. By doing so, they can provide training to agents on how to deal with customers at various touchpoints and also gather valuable resources.

2. Predictive Analysis

By forecasting call volumes and relative cost factors/ROI, brands can stay prepared for calls they will receive in the future. The predictive analysis makes it possible for brands to predict call volume for specific hours, days, weeks, and even months along with the associated costs and revenue earned This enables brands to make necessary preparations, such as optimizing staff and providing necessary coaching for agents. Brands can also plan to properly deal with spikes and streamline available technologies, tools, and resources.

3. Enhanced Agent Productivity

Data plays a crucial role in enhancing contact center agent productivity. With data analysis, organizations can easily identify areas where agents are struggling at scale. By identifying opportunities and effectiveness, agents can receive targeted training and coaching to improve their performance, resulting in higher KPI attainment and higher agent retention. Additionally, the collected data can also be utilized to automate routine tasks and improve decision-making which can provide a quick resolution to customers’ concerns. All of these streamline the process for agents, reduce job fatigue and add to their overall productivity.

How Brands Can Harness Meaningful Data?

In order to successfully utilize data, organizations first need to collect it. Below are some of the ways brands can gather and analyze correct data sets.

1. Interaction Analytics

Customer interactions are the richest data set on the planet. Once brands learn to extract and analyze this data, it becomes a smooth ride for them to meet set goals. Interaction analytics enables brands to extract insights from customer interactions, such as response time, transfer rate, hold time, and abandoned calls. Brands can further identify the drivers behind these metrics and optimize them wherever necessary.

2. Speech Analytics

Speech analytics is another way to utilize interaction data by giving clear insights into customer sentiments, common concerns, call quality, and agent performance. Based on this, organizations can take meaningful actions to improve operational efficiency, compliance adherence, agent performance, and customer experience.

3. Customer Feedback Surveys

Brands can conduct customer feedback surveys after each interaction to collect information about their experience, and agent behavior, and to measure the overall customer satisfaction level. Conducting post-call or chat surveys, email surveys, and live agent surveys are reliable ways to gather data on customer satisfaction.

Moreover, speech analytics also enables brands to get insights into business intelligence such as market trends, customer behaviors, and product performance to make data-driven decisions and reinvent business strategies.

Data-driven decision-making has become a vital aspect for businesses to improve their performance and add to positive customer experience. Discover how Etech Insights helps brands analyze data and engage with insights. Contact us!

This Blog was earlier published on LinkedIn

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