Forsta sponsored a study by Harvard Business Review Analytic Services to explore the roles of Big Data and Small Data for organizations in understanding their customers.
believe understanding customers is crucial to creating relevant customer experiences.
But only 23%
say they understand very well why their customers act the way they do.
have a customer experience strategy in place.
But only 20%
claim the strategy is working well.
Leaders see greater CX success
There is hope. 15% of the respondents, the Leaders, are able to integrate both Big and Small Data to create a holistic customer view and report they have a far better understanding of their customers. This reaps business rewards.
Anticipated benefits of customer insight integration
Leaders reap these benefits with bolstered business
Leaders in the mixing of data see better profitability and revenue growth
How has your organization’s performance in each of the following areas changed over the last year?
To learn more about how Leaders are leveraging Big and Small Data to create a competitive advantage, read the full report.
Source: Harvard Business Review Analytical Services, October 2019
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