One of business’ Big Data challenges is the integration of different data silos. The integration of these disparate customer data helps your analytics team to identify the interrelationships among the different pieces of customer information, including their values, interests, attitudes about your brand, interactions with your brand and more. Integrating information/facts about your customers allows you to gain an […]
Berkeley School of Information (datascience@berkeley) recently asked experts in a variety of industries to provide their definition of “Big Data”. They received over 40 definitions that ranged from the traditional 3 Vs (i.e., Volume, Velocity and Variety) to anything related to analytics or visualization. Some of these definitions were fairly narrow and focused only a single concept (e.g., […]
Managing the employee experience is critical to the success of your business. Employees, after all, build the products and deliver service to your customers. In short, they help ensure the customers receive a great customer experience, which translates into happier, loyal customers. Consequently, business leaders are seeking to better understand how to improve the quality of […]
Last week, I compared two employee turnover metrics. One metric was a self-reported measure gathered through surveys. The other metric reflected the employment status at a later date (the objective metric). The analysis showed that, while self-reported intentions to quit predicted whether or not the employee actually quit, the correlation between the two metrics was only r […]
Reducing employee turnover is an important way to improve how a company performs. It is estimated that employee turnover costs companies 16% of the annual salary (< $35K) of lower paying jobs and up to 75% of annual salary (> $75K) of higher paying jobs. These costs comes in many different forms, including the cost due to […]
![target[1]](https://businessoverbroadway.com/wp-content/uploads/2014/07/target1-100x100.jpg "The Hidden Bias in Customer Metrics")
Business leaders understand how their business is performing by monitoring different metrics. Metrics are essentially a summary all the data (yes, even Big Data) into a score. Metrics include new customer growth rate, number of sales and employee satisfaction, to name a few. Your hope is that these scores tell you something useful. There are a few ways to […]
I recently read a good article on the difference between structured and unstructured data. The author defines structured data as data that can be easily organized. As a result these type of data are easily analyzable. Unstructured data refers to information that either does not have a pre-defined data model and/or is not organized in a […]
The Canada Anti-Spam Law (CASL) goes into effect this next Tuesday (July, 1). Hat tip to my my good friend and neighboring Canadian, Stephen King, for alerting me to this law yesterday in his post and its implications. In this post yesterday, he notes that violation of this law can result in a $10M fine. He points out […]
Learn how to build your business around the customer using customer-centric measurement and analytics. Available in Kindle and paperback. Learn more about TCE: Total Customer Experience.
Beyond the Ultimate Question: Book includes comprehensive review of Net Promoter® Score (NPS) and presents better measures of customer loyalty and best practices of customer feedback programs.
Measuring Customer Satisfaction and Loyalty (3rd Ed.): Book includes discussion of how to measure the customer experience, including customer satisfaction and customer loyalty.