NEWS18 December 2014
UK — Market research software provider Confirmit has urged businesses to “correct the imbalance between too much data and not enough insight”.
The company claims that in order to prepare for the “barrage of data coming from the internet of things”, businesses must embrace next generation customer experience best practices in 2015.
Confirmit recommends a more automated approach to listening to customers that incorporates social and text analysis, as well as traditional methods, in order to simplify and streamline the entire customer experience management process.
According to a statement from the company, Gartner recently estimated that 4.9 billion connected ‘things’ will be in use by 2015, a number set to expand to 25 billion by 2020. Each of these devices, says Confirmit, will be capable of providing potentially invaluable customer insight that could be vital to commercial survival.
“Listening to the customer and responding to both positive and negative word-of-mouth feedback has never been so important and it’s going to get harder,” said Terry Lawlor, EVP of Product Management at Confirmit.
“Companies need to analyse all kinds of data: unstructured and structured, solicited and unsolicited. And they need to do this across multiple platforms, channels, countries and languages to help them identify and track issues that could make or break them. Sifting through this massive volume of diverse data has become a hugely complex and labour intensive task that is virtually impossible to achieve manually. By the time any insights are uncovered it is often too late to make any impact on the business.”