Organisations today are amassing an unprecedented amount of data at a rapid pace. But without full insight and analysis, ‘big data’ – massive data sets which can be used to spot business trends – is fundamentally useless.
Making sense of data is another challenge entirely, relying on not just the power of the analytics you have to hand, but gathering data from all touch points with the customer. So, how do you actually unlock the value?
‘3D Insight’ is Capita’s take on the next step in data analysis for customer management. It’s a methodology specifically designed for clients who need ever-deeper insights into their customers, how they behave, and the products they buy.
As the name implies, 3D Insight is supported by three separate streams of information:
- customer contacts
- customer data itself (an order, an account, a bill)
- and, importantly, data shared by a client from its own CRM and systems, enabling Capita’s insight and analytics team to study the events or triggers that instigated those contacts.
With 3D Insight, Capita is providing clients with actionable intelligence – helping them to reshape their customer experience and processes. A three dimensional view can tell you whether some products or customers are as profitable as you think; it can give gross sale and net margin figures to an accuracy which has so far proven historically unachievable.
"Yes, there is value in one dimensional analysis; we can quantify things. With two-dimensional analysis, where we know something about the order or the customer, we can tell you a certain demographic or postcode is ringing about that product."
"But in three dimensions, for example if we know about all the orders a client has taken, that gets really interesting. Then we can tell you how many people are ringing about this one product compared to all the others. We can tell you how many people buying it are ringing the contact centre about it - and if that number is high, it implies you’ve got a systemic failure going on.”
Alan Linter - Capita’s insight, analytics and improvement director
Improvements that could be realised through 3D Insight include better overall efficiency, better effectiveness with outcomes such as increased revenue, and better customer experience by reducing effort and emotion through the process.
Capita is working with a major UK high street retailer to provide actionable intelligence through 3D Insight. Our Customer Intelligence Platform is providing empirical data about how they can improve performance, using insight from more than 100 million customer conversations.
Our analysis included a deep dive into the supply chain, which gave the client total visibility of which suppliers and distributors were helping the brand, and which ones needed to improve.
We produced a ‘League Table’ of the performance of the top 20 suppliers based on hard facts – such as how much their performance resulted in ‘goodwill’ payments, and the ratio of calls received per delivery.
We implemented regular reporting and an alert system to flag up issues in the supply base, and a customer dashboard, which could be automatically sent to the management team, allowing them to proactively manage supplier performance.
We quickly identified that 52% of chase calls were generated by 0.3% of the suppliers – just 10 distributors. We shone a light on one major supplier of electrical goods who had an after sales query process that was taking as long as four weeks. Likewise, we identified that faulty goods accounted for only 5% of the goodwill payments being made – whereas poor service accounted for almost 75%.
Armed with this insight, the retailer was able to take positive steps to improve the customer experience, as well as improving the business performance of suppliers.
Alan Linter explains: “For clients, 3D Insight means we can bring them some incredibly powerful intelligence for not much more effort than simply sharing their data with us.”
Without analysis and insight, big data alone cannot provide enough information to transform operations and enhance the customer experience. With 3D Insight, however, we’re unlocking the value and rapidly heading towards that single view of each customer – something people have been talking about for 15 years, but very few have truly achieved.