Designing great customer experiences is getting easier with the rise of predictive analytics.
Companies of all stripes have invested heavily in tools and technologies to help them understand their customers more deeply and to gain the advantages of superior customer experience (CX). Yet as leaders strive to form a more complete picture of customer preferences and behaviors, they continue to rely on aging survey-based measurement systems that for decades have formed the backbone of CX efforts. Companies use these systems to track CX performance through brand or relationship surveys, “close the loop” on customer feedback via post-transaction surveys, and even plot strategic moves by attempting to mine the feedback from their regular surveys over time. Entire teams dedicate themselves to managing questionnaires and boosting response rates—and the resulting metrics can shape everything from employee bonuses and executive compensation to strategic investment decisions.