Delivering headline growth in the ‘new normal’ of a lower growth economy requires exceptional understanding of the market, your customer base, and how your company’s interactions with customers really drive corporate performance and profitability.
The digital age is giving businesses the opportunity to build a comprehensive understanding of market and customer sentiment, customer behaviour and service experience for the first time. ‘Big data’ on customer transactions, service interactions and product usage across every channel are increasingly available to businesses, alongside external social media feeds and internal operational data.
A recent global study conducted by Strategy&, part of the network of PwC firms, in collaboration with INSEAD found that on average companies that are leaders in data analytics capabilities are 38% more likely to be leaders in commercial performance, winning the battle for growth.
So the big question is, how can you take advantage of all this data to make a real difference to your top line?
Stitching the data together to uncover the right insights, and doing it quickly enough to drive better business outcomes, is not easy. However, by asking the right questions up front, it is possible to make rapid progress with getting your data to support your growth objectives: