As an aside, I’m excited to announce my latest website: http://www.biplaybook.com is finally published. Essentially, I decided that you, dear readers, were ready for the next step. What comes next, you ask?
After Measuring BI data –> Making Measurements Meaningful –> and –>Massaging Meaningful Data into Metrics, what comes next is to discuss the age-old question of ‘So What’? & ‘What Do I Do About it’?
BI PlayBook offers readers the next level of real-world scenarios now that BI has become the nomenclature of yesteryear & is used by most to inform decisions. Basically, it is the same, with the added bonus of how to tie BI back into the original business process, customer service/satisfaction process or really any process of substance within a company.
This is quite meaningful to me because so often, as consumers of goods and services, we find our voices go unheard, especially when we are left dissatisfied. Can you muster the courage to voice your issue (dare I say, ‘complain’?) using the only tools provided: poor website feedback forms, surveys or (gasp) relaying our issue by calling into a call center(s) or IVR system (double gasp)? I don’t know if I can…
How many times do we get caught in the endless loop of an IVR, only to be ‘opted-out’ (aka – hung up on) when we do not press the magical combination of numbers on our keypads to reach a live human being, or when we are sneaky, pressing ‘0’ only to find out the company is one step ahead of us, having programmed ‘0’ to automatically transfer your call to our friend: ‘ReLisa Boutton’ – aka the Release Button().
Feedback is critical, especially as our world has become consumed by social networks. The ‘chatter’ of customers that ensues, choosing to ‘Like’ or join our company page or product, or tweet about the merits or demerits of one’s value proposition, is not only rich if one cares about understanding their customer. But, it is also a key into how well you are doing in the eyes of your customer. Think about how many customer satisfaction surveys you have taken ask you whether or not your would recommend a company to a friend or family member.
This measure defines one’s NPR, or Net Promoter Rank, and is a commonly shared KPI or key performance indicator for a company.
Yet, market researchers like myself know that what a customer says on a survey isn’t always how they will behave. This discrepancy between what someone says and what someone does is as age-old as our parents telling us as children “do not as I do, but as I say.” However, no longer does this paradigm hold true. Therefore, limiting oneself by their NPR score will restrict the ability to truly understand one’s Voice of the Customer. And further, if you do not understand your customer’s actual likelihood to recommend to others or repeat purchase from you, how can you predict their lifetime value or propensity for future revenue earnings? You can’t.
Now, I am ranting. I get it.
But I want you to understand that social media content that is available from understanding the social network spheres can fill that gap. They can help you understand how your customers truly perceive your goods or services. Trust me, customers are more likely to tweet (use Twitter) to vent in 140 characters or less about a negative experience than they are to take the time to fill out a survey. Likewise, they are more likely to rave about a great experience with your company.
So, why shouldn’t this social ‘chatter’ be tied back into the business intelligence platforms, and further, mined out specifically to inform customer feedback loops, voice of the customer & value stream maps, for example?
Going one step further, having a BI PlayBook focuses the attention of the metric owners on the areas that needs to be addressed, while filtering out the noise that can detract from the intended purpose.
If we are going to make folks responsible for the performance of a given metric, shouldn’t we also help them understand what is expected of them up front, as opposed to when something goes terribly wrong, signified by the “text message” tirade of an overworked CEO waking you out of your slumber at 3 AM?
Further, understanding how to address an issue, who to communicate to and most importantly, how to resolve and respond to affected parties are all part of a well conceived BI playbook.
It truly takes BI to that next level. In fact, two years ago, I presented this very topic at the TDWI Executive Summit in San Diego (Tying Business Processes into your Business Intelligence). While I got a lot of stares ala ‘dog tilting head to the side in that confused glare at owner look’, I hope people can draw back on that experience with moments of ‘ah ha – that is what she meant’ now that they have evolved ( a little) in their BI maturation growth.