Modern companies store vast quantities of data – especially when it comes to customers and their interactions – but there is little use in this data if organisations do not tap into its real value . Neil Hammerton , CEO and Cofounder , Natterbox , tells us how the ability to better understand data can help organisations gain a greater insight into their customers , drive better business decisions and build stronger relationships to increase ROI .

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THEM TO ANALYSE DATA APPROPRIATELY ,

AS A CRUCIAL STEP TO

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It is no good to just collect data , however . Businesses must implement processes and technology that enable them to analyse data appropriately , as a crucial step to understanding the customer and what they require . It can then be used to enhance the overall customer experience , in turn helping the business to reap value .

The ability to better understand data can help organisations to better understand their customers , drive better business decisions and build better relationships which leads to increased ROI . But how is it done ?

The forgotten channel when it comes to data : Voice

While businesses have begun investing more time and money into analysing data from online channels , one channel often forgotten about is voice . This is largely because collecting and analysing data from phone conversations has traditionally been a very difficult thing to do . As a result , most of us expect a poor experience when contacting businesses via phone . This is ironic considering voice is one of the most expensive channels to operate . Until now , brands have had only one choice – paying for technology that delivers subpar customer experience .

In the past , consumers were willing to put up with this but in the current digital age , business are just one click away from losing a customer to a competitor . It is vital now , more than ever , that brands utilise assets to provide the best possible experience to their customers . In fact , consumers are ready to not only stay loyal to a brand , but pay more , all in the name of receiving a better customer experience .

As a result , companies are eager to seek out solutions dedicated to improving customer service . Once an appropriate technology is selected , data science takes centre stage . Thankfully , where voice is concerned , data analysis is becoming more accessible as the number of tools on the market continues to increase .

You have the data , but what are you going to do with it ?

By definition , data represents large sets of information that can be analysed to reveal patterns , trends and associations , particularly those relating to customer behaviour and brand interactions . Data insights might include buying patterns or information

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