InformationWeek recently published an article titled "The Best Way to Get Started with Data Analytics." It features viewpoints from organizations like Boston Consulting Group, Deloitte and Carnegie Mellon University discussing varying aspects from getting C-Suite buy-in, focusing on large-scale initiatives and avoiding proof of concept projects. Given his extensive market experience across social insights, voice analytics, artificial intelligence and customer intelligence, we sat down with Mark Langsfeld, CEO of mTab, to get his perspective on the topic.
Q: What is the ideal approach for a brand to effectively initiate data analytics across the organization?
"The ideal way for a business to get started with data analytics and to ensure that it is effective for the entire organization is to engage customer experience insights technology. This synthesizes dispersed internal and external data sources into a secure single-source data environment. This technology allows data, no matter the source or type, to be integrated and democratized across your organization so that every team, from Marketing and Sales to Customer Experience and Product Development and even the C-Suite, is able to unveil deep customer insight and develop visual stories to engage data-driven decisions and develop intelligence-based strategies."
Q: Mark Lummas, mTab's VP of Customer Success, recently talked about the 'data divide' brands are facing. What's driving this disconnect with customers?
"Yes, there is a massive 'data divide' many businesses are coping with today. Recently Harvard Business Review released a research report stating while 85 percent of executives realize that integrating their fragmented customer data leads to increased customer satisfaction and loyalty, only 23 percent say they adequately understand the attitudes and behaviors of their customers. This is a major issue as brands attempt to re-engage in the 'Age of COVID.' This is why the businesses that focus on democratizing data-driven insight across their organization to understand and motivate their customers are the ones that are well-positioned to gain a sustained competitive advantage.”
Q: There is often discussion around strategic mistakes around fragmented and siloed data. How is this best avoided?
"This approach single-source data environment approach sets a foundation for a company to become genuinely data-driven based on universal customer evidence. It further ensures company-wide alignment on understanding the customer. It also helps the enterprise avoid fragmented, siloed views of data that provide incomplete information and often plague organizations with disastrous decisions and shaky strategies."
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