Until recently, it has been far cheaper and easier to produce and store data than to process it. Companies have the option to buy large, multi-million dollar hardware devices to process their big data, but with budgets under pressure and no clear way to calculate returns on investment, the business case is difficult to make… And when analysts explain to the CTO that they only need the hardware for six months, for one day a week, or for one hour a day, the investment becomes impossible to justify.
In this whitepaper, you’ll learn how by eliminating the traditionally high ‘cost of entry’ for big data analysis, Amazon Web Services is enabling customers to convert more raw data into more valuable business insight.
Organizations treat customer data as a key component of CRM. Many organizations see an effective customer data management strategy as an important cornerstone of their CRM strategy. Most organizations are moving beyond tactical CRM initiatives focused on saving cost and driving efficiency to making their organization more effective and focused on driving better customer engagement and experience. Customer data is used to enhance customer experiences, improve service quality, target marketing efforts, capture customer sentiment, increase upsell opportunities and trigger product and service innovation.
The explosion of Big Data represents an opportunity to leverage trending attitudes in the marketplace to better segment and target customers, and enhance products and promotions. Success requires establishing a common business rationale for harnessing social media and determining a maturity model for sentiment analysis to assess existing social media capabilities.
Gaining a more complete, trusted view of customers is a strategic goal of most organizations. The challenge is that information about customers is typically managed and stored in many different applications, management systems and data silos. And this challenge is often compounded by a lack of consistency from one application to the next.
The combination of IBM InfoSphere Data Explorer and IBM InfoSphere Master Data Management addresses these challenges by creating a single, combined, trusted 360-degree view of all data related to customers, accounts, products and other entities. The combined solution enables organizations to gain a deeper understanding of customer sentiment, increase customer loyalty and satisfaction, and get the right information to the right people to provide customers what they need to solve problems, cross-sell and up-sell.
For years, organizations have recognized that a better understanding of customers can translate to more sales, increased customer satisfaction and reduced customer churn. Initiatives focused on a 360-degree view of the customer have gone a long way toward providing those benefits by synthesizing customer profiles, sales history and other structured data from multiple sources across the enterprise.
But today, customer-centric organizations are discovering that there is more opportunity for growth when they enhance that 360-degree view with information from more sources, both within and beyond the enterprise (see Figure 1). Information in email messages, unstructured documents and social media sentiments—previously beyond reach—is now extending the 360-degree view.
You wouldn’t hold a critical investor call, customer event or shareholder’s meeting in your office bullpen. So why would you host an important virtual event on a platform intended to support small-group collaboration and teamwork?
Frost & Sullivan research shows that two-thirds of companies use web conferencing on a regular basis for project collaboration. We also know that more and more of them are turning to the same solutions to host webinars for critical internal and external events. While web conferencing solutions can be used to support large-group or strategically important meetings, webinar technology is designed specifically for that purpose and will almost always deliver a better experience and a higher return on investment. Webinar tools deliver a wealth of features to help companies gain better insights into attendee sentiment for better investor relations, employee and customer experience, and lead generation and qualification:
• Integrated video draws higher levels of int
1.Meet the new consumer
The migration to mobile and social media will challenge — and change — everything we know about consumer marketing.
2. Who owns your brand?
Brand equity can no longer be bought. Online reviews now generate total market transparency for location-based businesses. Reviews tilt the balance of branding power away from companies and into the hands of customers.
3. The battle for brick-and-mortar customers is won or lost on the social web. To win, marketers must actively enlist customers as online advocates. Those who scale online review volume and quality will be rewarded with higher search visibility and more business at street level.
4. “Dark data” provides priceless operational insights
Vast amounts of unstructured, unmined sentiment data on social media provides feedback about the customer experience that you can filter using thematic analysis and use to improve operations at the national or location level.
5. Business implications
Online reputation stands betwee
Stop to think about how - and how often - your business interacts with customers. Most organizations believe that only a small fraction of data on interactions generated are effectively put to use. Why is that? Check out this whitepaper to see.
DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Our portfolio of live events, online and print publishing, business intelligence and professional development brands are centred on the complexities of technology convergence. Operating in 42 different countries, we have developed a unique global knowledge and networking platform, which is trusted by over 30,000 ICT, engineering and technology professionals.
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