The Centers for Medicare & Medicaid Services (CMS) use patient feedback about their care as part of their reimbursement plan for acute care hospitals. Under the Hospital Value-Based Purchasing Program, CMS makes value-based incentive payments to acute care hospitals, based either on how well the hospitals perform on certain quality measures or how much the hospitals’ performance improves on […]
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 […]
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 […]
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 […]
I read an article last week on employee empowerment by Annette Franz. She reflected on the merits of employee empowerment and also provided excellent examples of how employers can improve the customer experience by empowering their employees; she sites examples from the likes of Ritz-Carlton, Hyatt and Diamond Resorts, to name a few. Before employers […]
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.