A Three Pronged Approach to Achieving Customer Intimacy through Big Data
Big Data capabilities are not on the horizon and only the subject of talk. It is definitely real and its impact can be seen across consumer and business-to-business markets. For some companies, Big Data is viewed as a problem. This is understandable since running a business based on big data can certainly present complexity and challenges. But if you take a look at the value that can be derived from big data, the perspective quickly shifts from “big data the problem” to big data being an incredible opportunity.
Business leaders say that “Customer Relationships” will be the #1 impact of big data on their organizations in the next five years.
Source: Accenture, Big Success with Big Data Survey, 2014
I believe one of the greatest opportunities we have today is the ability to better understand customer needs, personalize the experience, and unlock customer intimacy. Although customer intimacy may look different from industry to industry or company to company, I believe all companies have the opportunity to use big data to enhance the customer experience and outcomes. At EMC, we have had great success doing this with a three-pronged approach:
- Invest in enabling technology that provides real-time, predictive analytics, including a company-wide data lake.
- Shift responsibility of data from IT to the line of businesses and design agile processes & governance to fully leverage insights.
- Focus on cultural psychology to empower internal teams to trust and act on big data to drive improved customer outcomes.
At Technology Services Industry Association’s (TSIA) fall conference, I had the privilege of presenting our approach to achieving customer intimacy through big data during a keynote, which resonated with the audience of technology and services leaders. Below is an excerpt of the keynote.
You can learn more about EMC’s use of big data to deliver a more personalized customer experience in the InFocus Viewpoints for Leaders document, “Unlock Customer Intimacy through Big Data”.