When asked to evaluate how well they are using analytics, such as applying data, statistical and quantitative analysis, descriptive and predictive models to drive decisions and enhance customer experience, most organizations’ perceptions are very different from reality, according to new research from Accenture (NYSE: ACN).
Accenture’s Customer Analytics Survey of 800 directors and senior managers at blue chip organizations in Brazil, China, Germany, Italy, Japan, Spain, United Kingdom & Ireland and the US and Canada showed that more than half (55 percent) of respondents felt their methods for segmenting customers and providing relevant experiences are either “ideal” or “very good.” However, related consumer research tells a different story. Accenture’s Global Consumer Survey[i] found that only 21 percent of consumers believe the companies they do business with are good at providing a tailored, relevant experience. Further, it showed that two out of three consumers changed service providers in the past year. With an average cross-industry churn (or defection) rate of 64 percent, organizations that hope to grow must provide more relevant and satisfactory customer experiences.
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Customer Experience Suffers As Organizations Make Inconsistent Use of Analytics - Accenture
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