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Summary

The emergence of digital technologies like wearables, beacons, and devices connected to the Internet of Things is creating new data streams and more relevant insights, making enterprises agile, efficient, and proactively responsive to customers. Enterprises that can successfully connect to the augmented data from these technologies and quickly analyze it will access a deeper level of insights and enable the delivery of proactive customer care, targeted engagements at the key moments throughout their customer journeys, and precise product development. The enterprises that put the processes and technologies in place to quickly act on the data generated by connected devices for the benefit of customers will gain strategic advantage.

The new hyper-connectedness offers invaluable data

A new breed of customer-generated data from IoT-enabled devices offers the potential of informed decision-making. A growing number of enterprises are realizing the long-term value that bundling augmented reality data with other enterprise data bears in providing proactive customer service, creating targeted marketing campaigns, and enabling precise product development.

This homogenization of data will provide enterprises with behavior-rich streams of information on customers that will help them achieve profound interconnectedness that will transform contact centers, marketing and sales, and R&D.

From this augmented data, enterprises will gain the ability to track activities, identify choices, and evaluate outcomes, ultimately adopting a new level of proactivity that hasn't been available in single-channel, voice-centric customer service environments. They'll be able to easily address a range of issues, from detecting problems before a customer even knows they exist and implementing fixes where possible, to contextualizing communications and engagements and ensuring that they're conducted precisely at the right moments along the customer journey.Therefore, they'll develop a more complete understanding of their existing customers, as well as gain the ability to serve and understand them more effectively.

One of the great benefits of IoT is the sheer volume of data that contact centers are set to gain concerning the efficiency of brand products and consumer habits. Enterprises that rely on the sensor, diagnostic, and user interaction data from devices, will only stand to accelerate their product R&D. By discovering how customers are using their products through multimodal learning, which incorporates users' audio, video, location, motion, and temperature data, businesses can quickly update features or adjust future models to more closely align with customer desires and behaviors. This insight is invaluable. Rather than undergo tedious trial and error, enterprises can know in real time what is working and what is not, enabling them to make data-driven decisions and immediately react to, correct, or adjust issues as they arise. This process will lead to better product design – now and in the future.

An augmented enterprise will also afford enterprises and agents the ability to stop reacting to customer issues and instead anticipate their needs before they arise. And the breadth and depth of knowledge on individual customer's behaviors and interests that marketing can glean from connected devices will challenge marketers to think differently about how they engage across channels and devices. Thinking differently will enable them to deliver offers to highly defined, contextual, and hyper-segmented audiences.

This new level of connectedness will help enterprises increase customer satisfaction and optimize customer long-term value, as well as provide product and service differentiation to their customers. This growing awareness around the intended benefits will accelerate enterprise investments in 2017 in technologies that will connect, aggregate, and analyze these IoT-enabled data sets.

Clearly, now is the time for enterprises to capitalize on the augmented data from IoT and wearables, and use the resulting insights to market and position their product lines more effectively and efficiently, as well as proactively engage with customers and prospects at critical moments.

Appendix

Further reading

The Augmented Customer and the Enterprise CX Opportunity, IT0014-003233 (February 2017)

Author

Mila D'Antonio, Principal Analyst, Customer Engagement

mila.dantonio@ovum.com

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