What should companies be doing to stay on top?
Dr. Craig Fleisher says companies should be considering at least the following vital activities to stay on top:1. Enlarge human network of customer 'touch points', and make sure data from these touch points can all communicate data back to the intelligence/knowledge center as a seamless and convenient part of their job activity.2. Utilize customer automation applications/software where and when relevant, and make sure that the data being collected is data that can be acted upon to improve decisions.3. Enlarge the range of analysis methods the company employs to understand customers. The methods of yesterday and yesteryear are very limiting in today’s environments. Companies that are using the same customer analysis methods the same way they always have been will be losing customers to companies who can develop new customer insights and improved perspectives.4. Build and retain a culture of constant customer focus and improvement in customer understanding. Companies who do this well can show tangible (measurable) improvements in both their processes, outputs, and results over time.5. Measure the 'right' things about the customers they are trying to better understand. The idea is not to capture and measure all transaction data, but the data that can best support actions the company can take to serve their customers profitably. Far too many companies capture customer data for the benefit of having the data – creating large reservoirs of 'noisy', stale, and ultimately inapplicable data in customer data warehouses, without having any good idea of how it can improve their understanding or being able to use it on a timely basis. This is a waste of valuable resources for many companies.