June 23, 2020
Stay in the Know
Many companies are using Conversational Analytics and other applications to gather data on every interaction between employees and customers. But some are struggling to extract actionable insights that create real business value. Companies can benefit from a greater understanding of what makes actionable data and how they can broaden their capability to do something about it. So, what exactly is the difference between data and actionable information? And, why is answering this question fundamental to the success businesses can achieve with Conversations Analytics?
It all starts with raw data – unprocessed facts in the form of numbers and text that reside in a database. Once this data is organized into a user-friendly format, processed and aggregated in the form of reports, dashboards and data visualizations, it becomes information. After the information is analyzed and conclusions extrapolated, it transforms into insights. Finally, when a course of action is decided that can influence decisions and drive real change, insights become actionable.
What are Actionable Insights?
Here are six attributes to consider and questions to ask when determining what content analytics data insights really are to an organization.
- How closely is an insight tied to business goals? Is it based on a KPI that requires a sense of urgency? Does it directly relate to business levers that you can control?
- Is there a benchmark that can give the data context? Are there enough supporting details to ensure that the insight doesn’t raise more questions that could result in action that is met with objections and skepticism?
- Does the insight send a strong signal that can be directed to the right decision maker(s) to receive the appropriate level of attention?
- Is the insight specific enough to be acted on? Or does it simply highlight an intriguing anomaly. Does the insight specify “why” something occurred?
- Does the insight uncover a new pattern that has never been revealed before?
- Will employees and customers understand the insight and how acting on it can help them and the business? Can it be clearly communicated?
With Conversations Analytics, contact centers can get to insights faster. Since it monitors and reports on all conversations, it automatically takes the raw data, organizes and analyzes it, and generates insights based on what companies want to track.
Once you determine an insight is actionable information, the obvious question is, what are you going to do about it? Be sure you don’t fall prey to the old proverb, “You can lead a horse to water, but you can’t make him drink.” Having a truly customer-centric organization, top to bottom, helps to drive the necessary change. If everyone in the company understands that the customer comes first and acts accordingly, there shouldn’t be any issues. If that is not the case, “not” acting on insights can be a disaster.
Putting Insights into Action
Here are five guidelines for ensuring that actionable insights to data lead to change:
- Culture change starts at the top. Corporate leaders have to be visible and not just preach customer-centricity; they must practice it every day and be its most ardent supporters.
- Department managers and supervisors must follow suit. Nothing frustrates individual contributors more than when analytics indicates that processes need to be improved, products need to be updated, or new technology should be implemented, and nothing is done about it.
- Have a process for continuous improvement that everyone understands and follows.
- Recognize and reward employees for detecting data trends and bringing them to management’s attention.
- Once a change is implemented, be sure to measure its success and report back to the organization. Employees like to know that the effort made resulted in the desired improvement.
Harvesting insights from Conversation Analytics can produce enormous returns. It can garner actionable insights faster, which allows companies to prioritize them based on their value to customers, employees and the company. To find out more, download the ebook, “Learn from Every Customer Conversation: Actionable Insights from Conversations Analytics”.