Digital Transformation: Why Data Makes a Difference
A new Sitel Group® whitepaper, "Customer Experience & Digital Transformation: Insights from the Boardroom," reveals a growing gap between organizations that are and are not in control of their data.
Digital transformation is crucial to long-term business growth and building long-term customer relationships. And, as competition within each vertical marketplace increases and as customer expectations continue evolving, organizations that are yet to start their transformative journey risk being left behind.
The latest Sitel Group® white paper, Customer Experience & Digital Transformation: Insights from the Boardroom, highlights a digital divide opening between organizations that can and can’t harness and analyze their data for empowering decision-making and, ultimately, customer experience delivery. The whitepaper, based on interviews with 403 C-suite executives within the U.S. and U.K., shows that digital transformation is firmly on the agenda — 20% of businesses are now digital-first and a further 56% are making progress on the journey towards a digital transformation.
A Data Divide
Even so, digital transformation is proving to be a genuine challenge for many organizations. And this is thanks to a lack of existing data-driven actionable insights. Whether it’s an inability to define clear objectives, calculate a potential return on investment, or a lack of transparency with partners and suppliers, 24% of companies reported that they are currently unable to decide on their first steps towards a digital future. This difference in digital maturity is why only 36% of organizations polled are currently capable of adjusting their customer experience delivery in real time. Likewise, just one-in-four are in the position where they can take full advantage of the customer and business insights available from the application of real-time speech and text analytics.
Nevertheless, all organizations that took part in the digital transformation study are using multiple data sources and approaches in order to inform their decision-making, particularly as it relates to aligning with their customer base. Two-thirds of businesses use a combination of structured and unstructured feedback from customer-facing staff; 58% rely on voice of the customer (VoC) surveys and analytics, and 57% employ social media monitoring. Over half of executives are also using focus groups and clickstream analytics. However, capturing data serves little benefit if it cannot be operationalized. A little over half of organizations claim to be succeeding in building a customer experience (CX) roadmap based on the data at their disposal. And yet, just one-in-three business leaders claim they have sufficient access to and control of their data that they can share throughout the business.
Insights Fuel Innovation
To find out more about where organizations believe they are on their digital transformation journey and analyzing their data, download “Customer Experience & Digital Transformation: Insights from the Boardroom,” the latest Sitel Group® whitepaper.