In today’s market, analytics has become a key enabler for competitive differentiation and the responsibility for capturing and analyzing customer data is no longer the key responsibility of the IT department.
According to IDC research 38% of organizations they surveyed in 2013 said that the majority of their analytics resources resided in a centralized analytics group outside of their IT department – a figure they suggest would have been close to 0% five to ten years ago. Their research also showed that an enterprise wide analytics strategy led to better outcomes from analytics projects.
The impact of data-driven business intelligence can be seen in the success of companies such as Tesco through their Clubcard, and Amazon or Google. These global growth and success examples show us just how powerful customer data can be. These are all forward thinking organizations who integrate data analytics into their everyday businesses and they build data into the heart of all their important decisions. Each of these companies also demonstrates a strong link between a data driven culture and financial performance.
Whilst we are currently hearing the buzzwords ‘Big Data’ being used it can often serve as a distraction to many organizations as it will mean different things to different people. Success stories tell us that it is far more important to focus on data assets already at our fingertips and look at how best to exploit these. Focusing on clearly defined projects that help to unearth insights from billing data has indeed been a great success for one CTI Group customer.
Virgin Media Business has successfully leveraged customer billing analytics to over 10,000 customer accounts, enabling them to access detailed billing information and options to analyse usage on calls yet to be billed. Though this portal their customers are able to keep track of costs across different parts of the business and at different cost centres – meaning no more surprises at the end of the month. It has also helped to streamline their own business processes, allowing for an overall improved customer experience.
Paul Mitchell, Director, Customer Operations, Virgin Media Business states, “Great customer service has always been at the very heart of our business and with the help of CTI Group we’ve delivered a world-class eBilling and analysis platform.”