The 6th Volume of Perspectives - TCS' Consulting Journal (www.tcs.com/perspectives), explains why organizations need to stay laser-focused on the total customer experience they deliver. In this edition, we focus on the outside-in part of building a customer-responsive enterprises, and share ideas to design experiences that are both highly productive for customers and highly profitable for their suppliers. The first article of this edition highlights how digital forces have led to commoditization and consumerization in many industries, and how the use of innovative customer experience analytics helps companies reshape products and services to gain new competitive advantages. Visit us every week for new insights on Customer Experience.

1. Using Social and Other Data to Revitalize the Customer Experience
The Fourth Listening Post
July 2015 Copyright © 2015 Tata Consultancy Services Limited
Tonya McKinney, Principal and Head – Customer Experience Solutions
Lisa Fairbanks, Lead – Customer Experience Solutions

2. Introduction: Digital Trends
Digital forces have led
to commoditization and
consumerization in
many industries.
Companies have lost
their historical
advantages and
customers easily switch
brands.
The use of innovative
customer experience
analytics helps
companies reshape
products and services
and gain new
competitive
advantages.
The Fourth Listening Post, 2015

3. Importance of Customer Experience
Customer experience has become the new competitive differentiator. Companies
that excel at customer experience deliver superior financial performance.
Cumulative
Total Return
The Fourth Listening Post, 2015
Source: Watermark Consulting blog post. The firm tracked stock market performance from 2007-2012. CX Leaders are the top
10 rated public companies in Forrester Research’s Customer Experience Index studies, and Laggards the 10 lowest-rated
companies. http://www.watermarkconsult.net/why-Watermark.html#Loyalty-Lift
The six-year stock performance of U.S. public
companies with superior CXi ratings was three times
greater than the S&P 500 Index.

4. Perspectives—The Responsive Enterprise Tweet this
The Way Forward: Advanced Analytics
Traditional approaches
to customer insight
are expensive and time-
consuming. All
companies use the
same sources and
similar analytical tools
and techniques.
To win the market,
companies need new
qualitative insights.
Digital advancement
has produced two new
and cost-effective
analytic approaches
that interpret
customer experience.
The Fourth Listening Post, 2015 Read More

5. Perspectives—The Responsive Enterprise Tweet this
Advanced Analysis of Existing Data
Big Data capabilities,
such as text analytics,
mine old data for new
insights.
Companies can unlock
value in unstructured,
archived data including
call center transcripts,
chat conversations, and
customer email queries.
The Fourth Listening Post, 2015 Read More

6. Perspectives—The Responsive Enterprise Tweet this
Advanced Analysis of New Data
Advanced analytics on
new social data
provides contemporary
customer insight.
Social profiling adds a
new edge to
companies’ standard
life stage segmentation.
Behavioral and
psychographic insights
can influence the
actions of marketing,
sales, and service
teams.
The Fourth Listening Post, 2015 Read More

7. Perspectives—The Responsive Enterprise Tweet this
The Fourth Listening Post
The ‘Fourth Listening Post’ brings together new analytics methods and data
types online. It allows companies to re-imagine customer experience.
The Fourth Listening Post, 2015 Read More

8. Perspectives—The Responsive Enterprise Tweet this
Designing an Effective Customer Experience
Designing a compelling
customer experience
requires qualitative
customer engagement
data and insight.
Companies that fail to
see this often get their
investments wrong.
Case study:
An insurance company
failed to identify
customer preference for
self-service. As a result,
it misdirected
resources.
The Fourth Listening Post, 2015 Read More

9. Perspectives—The Responsive Enterprise Tweet this
Unstructured and social data, combined with conventional data sources and
new text analytics provides richer, more actionable profiles on which to build
the customer experience.
Insight: Behavioral Segmentation
The Fourth Listening Post, 2015 Read More

10. Perspectives—The Responsive Enterprise Tweet this
Companies must
maintain a constant
feedback loop on the
issues, gaps, and
opportunities in
customer experience
across channels.
Case study:
A mobile phone
provider identified an
opportunity to disrupt
the market by
eliminating long-term
contracts. Market
dynamics changed as a
result and customer
selection criteria shifted
drastically.
Insight: Customer Experience Criteria
The Fourth Listening Post, 2015 Read More

11. Perspectives—The Responsive Enterprise Tweet this
New analytics on
unstructured data gives
companies detailed
insight on channel
performance.
Channels include digital
channels such as
online, social, and
mobile, as well as
conventional channels
like call centers, stores,
and ATMs.
This information is
crucial to designing a
holistic customer
experience.
Insight: Customer Omnichannel Experience
The Fourth Listening Post, 2015 Read More

12. Perspectives—The Responsive Enterprise Tweet this
Conclusion: Revitalize Customer Experience
Customer experience
is the new competitive
differentiator.
To design a unique
customer experience,
companies need new
insights. They must tap
new data sources and
analytics methods.
Social media is a
continuous online
focus group.
Understanding the
behavior of target
markets will unlock
innovation and bring
competitive advantage.
The Fourth Listening Post, 2015 Read More

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The Fourth Listening Post
Using Social and Other Data to Revitalize the Customer Experience
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