Market Research Report
2015 - 2016 Customer Journey Analytics Product and Market Report
|Published by||DMG Consulting LLC||Product code||337700|
Delivery time: 1-2 business days
|2015 - 2016 Customer Journey Analytics Product and Market Report|
|Published: August 19, 2015||Content info:||
DMG Consulting's inaugural Customer Journey Analytics Product and Market Report introduces an essential business strategy and solution that is going to play an increasingly important role in the future of enterprises. This Report provides the most in-depth coverage of this emerging IT sector. It is designed to help enterprise, IT and contact center leaders and professionals understand the emerging world of customer journey analytics (CJA): what it is, its uses and benefits, and how these solutions can be used to transform the ways in which enterprises interact with their customers and prospects throughout the entire customer experience.
The concept of CJA has been evolving for over 30 years and has taken many forms, including data warehouses, data marts, customer relationship management (CRM) solutions, and customer experience management. Today, as organizations are starting to accept an inherent truth about service - that customers expect to do business the way they want, when they want, and how they want - the importance of capturing, analyzing and understanding patterns in customer service relationships is taking on new importance. CJA solutions are going to enable a major revolution in the market by placing customer needs front and center at every step of a customer's interactions with a company or organization.
CJA is challenging because it involves everything that customers do throughout their entire lifecycle with a company. To do CJA properly, companies need to capture and analyze every action taken by a customer, evaluate its relative value and importance, identify approaches and methods to make it easier for them to do business, and figure out how to optimize every interaction. Companies need to be able to capture all customer interactions and transactions at every touch point. Big data analytics solutions provide the infrastructure and technology to capture and analyze massive stores of customer data, which is the first step in the CJA process. The second and more complex aspect of CJA is making the results actionable. CJA vendors are using semantics, machine learning, and predictive and prescriptive analytics to identify patterns, trends and opportunities at the company, department and individual level. This information is being used to develop a personalized strategy for each and every customer and prospect. DMG expects CJA to be a major area of investment during the next five years.
The greatest hurdle facing CJA implementations is internal politics and convincing managers to develop and operate with a shared set of goals that are designed to make it easy for customers to do business with them. Executives and leaders need to break down silos that, in many cases, have taken decades to build, and institute a culture and structure that supports true change management. While putting the customer first will be a major adjustment for most organizations, companies have been moving in this direction for the past two decades, and the benefits of CJA will be great enough to outweigh the effort required.
The ‘2015-2016 Customer Journey Analytics Product and Market Report’ covers trends, challenges, vendors, products, technology, functionality, projections, benefits, return on investment (ROI) and pricing. This Report is designed to help companies understand the emerging CJA market so that they can select the right solution for their operating environment. This Report covers four vendors in-depth: MaritzCX, NICE Systems, Salesforce and Verint Systems. A new entrant, VOZIQ, is covered at a high level.
Enterprise View vs. Customer View of Being a Customer
Source: DMG Consulting LLC, August 2015.
Appendix: Customer Journey Analytics Vendor Directory