Teradata Influencer Summit Highlights

Herman Wimmer, Co-President kicks off the event. Herman says that the guiding priorities of Teradata are:

Key Principle #1: Analytic ecosystem: Teradata, DB, UDA, Real-time, Fabric Architecture

Key Principle #2: Big Data Technologies: Aster, Hadoop, Big Data Apps, Apps Center, Open Source Contribution and leverage

Key Principle#3: Cloud for Analytics

Key Principle #4: Enterprise Class Production Analytics, Hybrid Implementations (Pubic/ Private), Broader Market Penetration

Key Principle #5: Consulting, Big Data Consulting, Analytics Consulting, Managed Services

Key Principle #6: Future Markets: Healthcare, Government, Innovation, People, Passion….

In a digital world, where business models are changing very fast (note not everyone agrees with this or sees it) business will need real-time data to make better decisions to make the customer experience the best it can be. Companies that used to compete on selling cars are really COMPETING ON THE “experience or what it feels like to drive/ own the car.” Engineers, marketers, Customer Service Professionals can guess what is making the customer happy- DRIVING THAT CUSTOMER EXPERIENCE or they can use these technologies available to drive better business. It is not easy, but Teradata is definitely simplifying it. But it takes investment of people, process, time, and the technology and PASSION at a brand to take this conversation, strategy and tactics on and turn it into a reality. Hype doesn’t get you very far. We are out of the hype cycle and need to get down to business using data to make the best customer experiences.

My POV: Where is your company with respect to going beyond the conversations of “big data” for “big data” sake and are truly embracing the data in the business, where it can make a difference. Who should lead this? CEO’s that “get the value of data” are looking to someone in their organization to do it – CIO, CTO, CMO, Customer Service Professional to lead data revelations. And if one of those “titles” doesn’t step-up and lead or co-lead with other executives, CEOs will find and hire a Chief Digital Officers or Chief Customer Officers to make it happen. It is an opportunity, but it is not without risk. Done well, it bring huge financial rewards to the company that master it. And probably most likely help that person’s career. If you are in a position that isn’t data-centric – then it’s up to you to turn it into that.

@drnatalie, VP and Principal Analyst, Covering Marketing, Sales, Marketing and Customer Service using Big Data Analytics to Deliver Amazing Customer Experiences

 

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Coverage on First Day: Analyst Day at Lithium’s LiNC15 Conference

Analyst Day Review of Lithium 

On this first day, we heard from not only the executives at Lithium but also customers. One study Lithium engaged in showed that while 49% executives thought that bad customer experience would drive customers away, the actual number is 89%. Perhaps the value of customer experience and customer service has finally come into it’s own. For someone who have covered this area for over 20 years, it’s great to see. One of the key issues with respect to this is that CEO’s are realizing that because customers will leave, they are expecting someone in their organization to step up to the plate and lead customer experience. Sometimes it’s the CMO, sometimes its the Customer Service Professionals, sometimes it’s the CIO and sometimes, when it’s not happening, the CEO will hire a Chief Digital Officer or Chief Experience Officer to make sure the customer experience is changing and the company will be around long-term. It’s an opportunity that someone inside a company needs to stand up and take on. But it is not without risk.

Rob Tarkoff (@rtarkoff) CEO of Lithium talked about why Lithium exits and why it’s so key to brands. The reason? Customers have extreme expectations. Buyers have forever changed and they want more, want it now and want it easy and enjoyable. Customers trust their peers; not brands. iGen doesn’t want to hear from brands; they want to hear from their peers they trust. They are ok hearing from and working with experts from brands but they prefer peers. The stats keep showing the same thing: 78% trust their peers, yet 14 trust advertising. Yet there is still a ton more money spent in advertising than customer experience. I hope that changes and soon.

Four Main Problems that Get Resolved in Branded Online Communities

Rob explained that Lithium exits to build trust between brands and people by solving 4 main problems:

  1. Helping brands with conversations happening on multiple digital channels –that many the brands don’t own or control
  2. Brands don’t know “who is who” –they need the identity of who a customer is and their passion and problems that the customer needs addressing. That’s why Klout was acquired and is integrated and it’s not just about one’s influence, but also scored by what people are passionate about
  3. Brands have found it difficult to scale to tame the beast of social media; volume of social customer care is escalating and increasing a preference as a channel – it’s no wonder – the contact center is necessary, but not where you will always get the best service
  4. Brands are wondering where the ROI of social is. Most software companies aren’t proving out the impact of social and digital transformation effectively. They are not answering where’s the ROI and the business impact. Lithium feels it is not about likes and impressions – it’s about dollars saved and dollars earned. What’s exciting is how many brands are making money—becoming a revenue engine- using online, branded communities.

More details on the study conducted:

  • 93% of brands believe they are adapting to digital disruption and transformation. But do those solutions really have scale and lasting impact? That’s what is really needed and more difficult to do without a platform.
  • 82% customer have higher expectations compared to just 3 years ago
  • 65% of brands have unbelievable expectations to innovate
  • 58% of brands feel increased competition from competitors.

So what’s the bottom-line?  Lithium feels customer experience is in the power of the platform –a platform that’s build to deal with the customer experience in the digital world. Lithium feels there are 3 parts to this:

  1. Connect on social channels
  2. Engage with branded communities
  3. Understand your most valuable prospects and customers

And customer answers questions and share experiences and brand thus can grow revenue , reduce costs and improve NPS.

What about the acquisition of Klout? Klout provides customer insights that are bases on what people say about themselves and what others say about them. What is important is the people with passion and express that online- it’s what is key to brands and brands need to prioritize customer’s expectations and experiences and the Klout product helps them to do this. Lithium has more than 700 M profiles. Brands need to get to know these folks.

Why Does Lithium Win Deals? Lithium deals with the complete set of stakeholders who participate in a company- everyone who delivers products or service and helps deliver a better overall customer experience. What this means is that customer service is the new marketing and the customer experience and vice versa. The key to creating better customer experiences is a community – peer to peer interactions where internal experts inside a company help customers; external experts (outside a company) also help a customer as well as people inside a brand. This is the total community – branded communities, social networks and third party social networks and what Lithium offers. It’s true that brands that have their own branded communities great better customer experiences.

It’s been a great first day. Looking forward to the actual conference, starting tomorrow! Look for the tweets at #LiNC15

@drnatalie, VP and Principal Analyst, Constellation Research Covering Marketing, Sales and Customer Service to Deliver Great Customer Experiences

 

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ThinkBig and Teradata Partner for Data Consulting

With all the data and all the opportunity, it’s really necessary to have someone focus on getting most out of that data. Otherwise, as other’s have coined, you end up with a data lake – a bunch of data but not in context and not useable in providing great, continuos customer experiences. And at the end of the day, what companies need is to have the data actually to help them run their business better. So the announcement today solves some of these issues, i.e.,  Think Big, a Teradata (NYSE: TDC) company, announced the immediate expansion of its big data consulting business.

They have announced a dashboard engine to be able to have drill down capability and get to the insights using ingestion patterns and infrastructure. Think Big embraces a range of vendor-neutral, open source options and recommends the best combination to complement existing, proven technologies based on each customer’s unique business needs.

Think Big assists clients, across industries, to gain measurable business value from big data through implementation and integration of open-source technologies such as Apache™ Hadoop®, Apache Spark™, and NoSQL databases (i.e. Apache HBase™, Apache Cassandra™, and MongoDB).

Hadoop and its fast growing ecosystem of open source projects have quickly become first-class technology assets, regardless of the organization’s size or geography,” said Rick Farnell, co-founder and senior vice president International, Think Big, a Teradata company. “Think Big’s international expansion will allow us to effectively share our expertise and support our customers. To support its growth, Think Big is aggressively recruiting talented individuals to fill a variety of positions in sales, data engineering, data science and project management.”

Will be very interesting to see how the partnership evolves and the case studies that result. Remember – send your clients to the enter into the Super Nova Awards to be considered. It’s a great honor and Constellation Research is looking for innovators who are disrupting business models and using data to do that. Especially in click-stream data.

@drnatalie

VP and Principle Analyst, Constellation Research

Covering Marketing, Sales and Customer Service to Provide Great Customer Experiences

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Live Webcast: Can Brands Keep Their Promises?

Companies like Apple, REI, Amazon, and Zappos are known for providing exceptional customer experiences. They’ve set the standard, and yet there are still upstarts like Everlane, Birchbox, One King’s Lane, and Zulily, to name just a few that are setting new standards. Since we’re headed into the holiday high season for retailers, I thought it was only fitting to mention a line of businesses clamoring to delight you. What brands come to your mind?

What you’ll learn in our Webcast on: Can Brands Keep Their Promises? 

1. Why it’s important for brands to keep their promise
2. How organizational change is affecting the ability to deliver true transformation digital customer experiences
3. How technology must be integrated with people and process to deliver what customers expect

One of the issues is the whether the CXO level truly understands the digital disruption that is happening. The digital division between businesses that get the value of the digital transformation era and those that don’t is getting bigger and bigger. Those that do get it, will thrive in this new economy. And those that don’t, may just disappear. Many, many businesses have gone out of business for this very reason. Will you be one of them? Please join us to discuss what CXO level professions need to know to be successful in 2015.

By the way, if you were able to join us at Connected Enterprise 2014 in Half Moon Bay this year, you may have heard Bryan MacDonald or Dr. Presser speak, so this is a chance to continue the conversations.  And if you were not there, it will be a great opportunity to hear these two wonderful speakers talk about what its going to take to make a business thrive in 2015.

Here’s who will be on the panel:

Bryan MacDonald, executive recruiter & founder of The Digital Board
Dr. Janice Presser, behavioral scientist and CEO of The Gabriel Institute

and myself, Dr. Natalie Petouhoff, VP & Principal Analyst at Constellation Research

When: Thursday, November 20, 2014 @ 10:00a.m. PT / 1:00 p.m. ET

You can register to join this webcast dialogue in just 30 seconds. 

@drnatalie

Covering Marketings, Sales, Customer Service to great better customer experiences!

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KeyNote: Who Will Lead the Big Data & Social Media Revolution? IT or the Line of Business?

This keynote at TWDI in NYC we explored Who will Lead the Social Media and Big Data Revolution — IT or The Lines of Business (Marketing, Sales, Customer Service…)

Whether its social media monitoring with software applications like Crimson-Hexagon or Fan Engagement and social media ROI platforms like Manumatix, there is tremendous value in these new applications. Perhaps the role of the CIO or CTO is to become the interpreter of software applications that analyze and use big data and social so that the line of business can reach their business goals? Many people would argue that that’s the role CIO and CTO’s have had all along…

Behind the scenes of the business potential of social media, another revolution is happening in IT departments. Social Media and other Big Data applications are provoking a tidal wave of new platforms, new development, and radical innovations in the creation of data, as well as the management and delivery of data. These trends are overwhelming the traditional approaches to data management and warehousing.

I presented the view that perhaps IT could help the lines of business by helping them understand how to apply these new types of software to their business. This means that IT would need to work very closely with the lines of business in understanding their business goals – like increase in awareness, leads, lead conversion rates, sales, customer loyalty, referrals, advocacy and loyalty.

Along with myself, Dr. Edouard Servan-Schreiber –Director for Solution Architecture at MongoDB, presented the his point of view on this topic.

In my presentation, I’ve included not only my 7 Steps for Executive Success for Big Data and Social Media, but I have also included some of the vendors that IT could be helping the lines of business choose to help them reach their goals.

The issue is that CEOs are pushing the decisions down into the lines of business. Never before have they had to really understand software to this extent. IT used to be in charge of software platforms and choices. With SaaS the line of businesses are making their own choices. Perhaps though, this additional responsibility of sifting through all the various types of software and choosing the best ones to reach the business goals could be a shared responsibility for IT and the lines of business.

What’s your thought’s on who should lead the Social Media and IT Big Data Revolution?
@drnatalie
www.drnatalinews.com

Here’s the link to the slides: http://slidesha.re/1h1wFuB

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How to Improve Customer Service by Dr. Natalie (Part 13) & Increase Revenue & Decrease Costs

The Socially-Enabled Customer Service Increases Revenue and Reduces Costs

For the whole story on how to use the OODA Loop as a unique way to use Social Media to improve Customer Service, download the white paper here. Or read on…

I’ve been writing about many force multipliers that are currently present within Customer Service organizations using social media. Socially-enabled Customer Service can affect every aspect of your business when leveraged as a force multiplier.

There are multiple benefits from social throughout the buyer-seller relationship. It can be used to generate leads and build customer interest. It can be used in the sales and marketing process. It can be used to monitor customer satisfaction. It can be used to ensure that customers have their support issues addressed and new product functionality requested. It can help PR by helping to protect the brand. And it can be used to understand when an existing customer is influencing potential new customers.

However, if you pull the socially-enabled service aspect out, the force multiplier effect does not exist. A break in the process leaves an opportunity for social media (or the failure to use it) to broadcast your shortcomings in the relationship with your customer. It is important you understand the force multiplier advantages— starting with the Customer Service aspects of your business.

Take a note from a famous pilot, John Boyd and his OODA process and make sure to use social media to observe, orient yourself to the new information you observed, make decisions on that real-time social media data and take the actions that will forward your business, exponentially!

For the whole story on OODA Loop and How to Use Social Media For Business download the white paper here.

Learn. Share. Grow!
@DrNatalie L. Petouhoff

For more info on my work:
Ebook
:Social Media ROI

Social Media ROI YouTube Videos:
Video 1: Building the Business Case for Social Media
Video 2: How to Measure the ROI of Social Media
Video 3: How Social Media Benefits the Whole Company

Book on Monetizing Facebook: Like My Stuff: How To Monetize Your Facebook Fans

Let’s Connect here:
Twitter:
@drnatalie
LinkedIn: DrNataliePetouhoff
G+ : Google Plus posts

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How to Improve Customer Service by Dr. Natalie (Part 12) & Become an Agile & Customer Focused

How Do You Know If Your Company Is Agile and Customer-Focused? For the whole story on how to use the OODA Loop as a unique way to use Social Media to improve Customer Service, download the white paper here. Or read on…  If we use the OODA Loop as our basis, here’s some questions to ask yourself and your organization:

Question 1: Do you have systems to monitor/measure what employees and customers know, think and feel about how customer service is provided and how the rest of the business operates? And do you take that information and integrate it into your company and make improvements that deliver better products, services and, in particular, better customer service?

If you think about it, this is very similar to what W. Edward Deming was suggesting when he provided business advice to companies. The fact is some companies collect feedback, but that information rarely gets to the right department or person who could make use of it. And then if it does get to the right person, there are not systems or a process to use that insight to make improvements. And even fewer companies tell customers and employees when they have taken the feedback into consideration and made the right changes. One of the most powerful things companies can do is to let customers know that they care by not only making changes, but to let customers know their voice was heard and taken seriously.

Question 2: If you do listen and act on customer/employee feedback, do you do it faster than your competitors? If you do, you’ll have a decided time advantage over their competitor.

Question 3: Are we on track? In military operations, OODA takes place in seconds. In corporations, it’s much slower. In fact, the current year’s strategy is rigidly followed till next year’s planning cycle. What companies need to consider is that with the real-time web, waiting a year to make a change is too slow. In fact, waiting a month or a week may take a customer service issue, spread by social channels, into a PR nightmare. Consider stories like United Breaks Guitars as one way that customers are fighting back against what they perceive is poor customer interactions. It’s critical to validate we’re on track or correct it. Especially in the Age of Social Business.

Question 4: Do you take feedback, fix what is not working and then repeat that process over and over?  In OODA theory, its It not just about going through the OODA loop once. It’s about seeing the OODA Loop as a continuously, on-going process. And then the result of your actions provides the observations to reorient what you decide to do next.

Most companies think of Customer Service as a cost center. But what if Customer Service was a way to preserve and generate revenue? Customers are at the boiling point. They no longer want to take what’s handed to them, especially when it comes to Customer Service. And with social media they have a way to make their voice heard. If we go back in time, people were predicting there would be a technology that would allow customers to talk to each other. And to talk back to companies online when they are dissatisfied and that everyone would be able to see that negative interaction. That prediction was written about in the book The Cluetrain Manifesto.

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How to Improve Customer Service by Dr. Natalie (Part 11) By Creating Extraordinary Customer Responsiveness

Force Multiplier #6: Create Extraordinary Customer Responsiveness

Customer Service Your Guide to Integrating Social Media to the Customer ExperienceFor the whole story on how to use the OODA Loop as a unique way to use Social Media to improve Customer Service, download the white paper here. Or read on… Social Media for Customer Service affects Product Development. There is also a behind-the-scenes benefit to product development from using social media for customer service. Because of the “always-on” state of customer service, the Customer Service staff are often the first ones to hear questions from customers like, “I wish the product only did this” or, “Why doesn’t the product do this?”

If the product development team leveraged Customer Service staff and social media data to track these comments—the product development team would be much more aware of what customer’s think about the company’s products and services and be able to create them better.

Customer Service Think Tank hosted by Dell

Customer Service Think Tank hosted by Dell (Photo credit: Dell’s Official Flickr Page)could create new functionality and even develop a new product that customers really want and are ready to buy. Talk about being proactive to your customer’s request— now, this is customer responsiveness! Imagine a customer tweeting that your company fixed a problem or created a product based on their request! Imagine how many more products you’d sell if you created products your customer’s actually asked for.

 

The Conclusion? Force Multiplier #6: Create extraordinary customer responsiveness, build products based upon customer request tracking through customer service, create positive brand image via product development.

For the whole story on OODA Loop and How to Use Social Media For Business download the white paper here.

Learn. Share. Grow!
@DrNatalie L. Petouhoff

For more info on my work:
Ebook
:Social Media ROI

Social Media ROI YouTube Videos:
Video 1: Building the Business Case for Social Media
Video 2: How to Measure the ROI of Social Media
Video 3: How Social Media Benefits the Whole Company

Book on Monetizing Facebook: Like My Stuff: How To Monetize Your Facebook Fans

Let’s Connect here:
Twitter:
@drnatalie
LinkedIn: DrNataliePetouhoff
G+ : Google Plus posts

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How to Improve Customer Service by Dr. Natalie (Part 10) – Affect on PR And Customer Loyalty

Force Multiplier #5: Proactive Monitoring Of PR Events And Leaks, Leverage Customer Feedback And Customer Data To Facilitate Customer Loyalty

Customer Service Your Guide to Integrating Social Media to the Customer ExperienceFor the whole story on how to use the OODA Loop as a unique way to use Social Media to improve Customer Service and PR, download the white paper here. Or read on…  Social Media for Customer Service affects Public Relations. Public relations departments might be considered at a slight disadvantage with the advent of social media. They have been able to craft and control the branding and key messages, which is very important to the brand equity. With social media, while they can release information to broader audiences quickly, negative information can spread just as fast.

What if an overzealous blogger gets wind of your new product and blogs about it before the launch? On one hand this could be called a “sneak peek.” On the other hand, if leaked too soon, it might end up tipping your hand to the competition and even the stock market. In today’s social media environment, there is no way to protect the company 100 percent of the time from info leaks.

But having crisis mitigation strategies in place for when it might occur is necessary. On many occasions, it is the Customer Service personnel who have alerted Public Relations about “sneak peek” news first. It is also known that some PR strategists give first news of new products or offerings to the most loyal customers as a reward or to get feedback pre-release. The customer database and its metrics are used for selection of those customers.

Conclusion? Force Multiplier #5: Proactive monitoring of PR events and leaks, leverage customer feedback and customer data to facilitate customer loyalty.

For the whole story on OODA Loop and How to Use Social Media For Business download the white paper here.

Learn. Share. Grow!
@DrNatalie L. Petouhoff

For more info on my work:
Ebook
:Social Media ROI

Social Media ROI YouTube Videos:
Video 1: Building the Business Case for Social Media
Video 2: How to Measure the ROI of Social Media
Video 3: How Social Media Benefits the Whole Company

Book on Monetizing Facebook: Like My Stuff: How To Monetize Your Facebook Fans

Let’s Connect here:
Twitter:
@drnatalie
LinkedIn: DrNataliePetouhoff
G+ : Google Plus posts

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How to Improve Customer Service by Dr. Natalie (Part 9) & Get Better Business Insights

Force Multiplier #4:  Less Missed Trends, More Cross-Department Input, More Business Insight And Foresight

For the whole story on how to use the OODA Loop as a unique way to use Social Media to improve Customer Service, download the white paper here. Or read on…  Social Media for Customer Service affects Marketing. to who owns the company’s social media presence. Studies show that Public Relations, Communications, Marketing, Customer Service and even Product Development will make claims to own this territory. It only makes sense to have alignment in the organization as to who will manage the various functions of social media, and create a common voice and governance rules over the communication policies.

Also, cross-functional training is required to have all departments understand each other’s role. For most companies this would be a first! From social Customer Service perspective, they are fundamentally looking for potential problems and solving them. But because Customer Service is the place that a company can learn about the real-time use of their products and offerings, it’s the best pace to suffer information that can be used in other departments like PR, Marketing, Product Development and even Billing. Sometimes customer’s contact customer service because their bill is confusing. If that information is conveyed to Billing, they can work on making the bill more understandable.

Perhaps an inordinate amount of customers are dissatisfied with the pricing of a product. That information can be shared with Marketing and Sales, especially if trends are developing. Because of the fast pace and ever-changing landscape of social media you can never have too many eyes watching for trends that may go unnoticed by busier internal groups. If Customer Service aggregates data from all communication channels to gives it to the various functional departments, they can provide the company with mission critical, competitive business insight.

Conclusion? Force Multiplier #4: Less missed trends, more cross-department input, more business insight and foresight

For the whole story on OODA Loop and How to Use Social Media For Business download the white paper here.

Learn. Share. Grow!
@DrNatalie L. Petouhoff

For more info on my work:
Ebook
:Social Media ROI

Social Media ROI YouTube Videos:
Video 1: Building the Business Case for Social Media
Video 2: How to Measure the ROI of Social Media
Video 3: How Social Media Benefits the Whole Company

Book on Monetizing Facebook: Like My Stuff: How To Monetize Your Facebook Fans

Let’s Connect here:
Twitter:
@drnatalie
LinkedIn: DrNataliePetouhoff
G+ : Google Plus posts

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