Analytics and metrics don't directly translate into profit, so they remain a tough sell for business traditionalists. However, cryptic data can easily become a potent tool in the grasp of a savvy business - especially when they possess cloud portal applications that collect and store data. After you successfully tame the daunting Big Data beast, the next challenge is using the insights you extract out of the data to develop actionable items for your business. The following examples describe just some of the ways cloud analytics can be used to create action plans that will help you gain an advantage in the market.
Improve customer service from behind the scenes
When you think about the advantages of analytics and metrics, customer service probably isn't the first to come to mind. However, in Customer Experience: Seven Questions a CIO Should be Able to Answer, a Gartner webinar hosted by Ed Thompson, shows that to best tailor your customer experience, you must understand and be familiar with key metrics.
While some qualitative feedback can solely be accessed through direct interaction with customers, you can still refine your customer experience from observing and analyzing some of the KPIs from the image above. Businesses using cloud portals already have the background data to non-intrusively measure and evaluate their customer experience and make adjustments accordingly.
Evolve your CRM — predict customer behavior
89% of customers feel that repeating information to business representatives is the top frustration when dealing with support and customer service. CRM solutions offer an information system that improves the flow of communication. But what if you could also use your data to help anticipate customer behavior?
You can't read a customer's mind, but you can read the analytics built into your portal! Use the customer’s portal activities to capture a history, identify the pattern and build a more comprehensive customer profile. Customers will be pleasantly surprised when you proactively address their needs at a more intricate and predictive level.
Embellish your point with concrete statistics and data
Demonstrate the viability and success of your business through comprehensive analytics and metrics
We already know how valuable statistics and visual graphics can be to a sales pitch or presentation. How impressive would it be if you could support your claims with live data straight from your portal? In addition, with available reporting and dashboard tools that may be a part of your cloud solution, you can instantly process this data into graphs, charts, maps and other more digestible graphics. Extend your presentation and provide informed answers to possible questions with data straight from your portal.
Analytics can actively benefit your business operations. In today's world of big data, ignoring analytics is a recipe for disaster - regardless of how strong your business intuition is, adding analytics to your tool belt will only strengthen your strategy. The question isn't whether or not you should use analytics, but rather how you should integrate and incorporate analytics into your operations.
With the emergence of the cloud, analytics are becoming more easily and readily accessible to businesses. In cloud computing environments, the data necessary for comprehensive analytics already exists and is waiting to be manipulated.
Empower your business with a self-service portal that will help convert your analytics and metrics into action plans today!