Empirix: Opus Research Executive Survey Shows Companies “Unprepared” for Data DelugeMore than 60 percent of top corporate executives lack a strategy for unlocking value of network data
January 11, 2012
Empirix Inc. today announced that a survey of C-level business executives in the United States and Europe revealed that many companies are not prepared to take advantage of the surge of network data generated by the growing use of multiple communication channels, including mobile devices and social media. The survey, analyzed by Opus Research and sponsored by Empirix, was based on conversations with 200 C-suite executives. Among the most revealing findings, 62 percent do not have a strategy for effectively tapping into the customer-originated data flowing through their networks. The survey results are further discussed in this short video.
Businesses around the world are migrating to multi-channel, multimodal strategies for communicating with customers. These emerging, real-time customer care environments, which include web, phone and social media channels, place unprecedented strains on a network’s infrastructure. But they also generate huge streams of data that contain valuable insight into customer activity and preferences. Surprisingly, only 38 percent of respondents believe they are in a position to make the most of the data generated by customers and prospects with their current systems.
“Use of mobile devices and social media is creating voluminous amounts of personal data which executives regard as an underutilized asset, especially when it comes to real-time interaction and e-commerce,” said Dan Miller, senior analyst, Opus Research. “The wealth of customer-originated information can help companies achieve stronger customer loyalty and better market position; however, our research shows that most C-level executives lack confidence in their companies making the most of the data. They are familiar with social CRM and ‘Big Data,’ yet many are only beginning to craft a strategy for staffing and investing in IT infrastructure to closely link personal information, network data and metadata to offer better customer service, support loyalty programs or influence product development and refinement.”
Additional key findings from the Opus Research survey include:
Need for more mobile strategies – Approximately 60 percent of executives stated they did not have a strategy in place to manage network data from mobile users.
Only 17 percent of executives who have a strategy in place to leverage the data thought it to be effective.
Thirty nine percent of respondents stated they rarely use data since they lack the support to efficiently sift through data in order to make it more meaningful.
Europe and U.S. differences – Less than 50 percent of executives in Europe believe their IT departments can handle the surge of data, while two-thirds of U.S. executives are confident their IT departments are prepared. And U.S. executives are more apt to use information to influence company activities, including creating efficiencies or designing new products.
In addition to the value residing in network data, the infrastructure must be strong and reliable. As the Opus Research report points out, today’s “always-on customers” signal their intent to go shopping, make a purchase or leave a company for a competitor each time they access a network to communicate with a company or make a call to a customer service representative. Companies operate at a competitive disadvantage if the network falters and they cannot react quickly.
“With customers today expecting uninterrupted, real-time communication over a variety of channels, network reliability has never been a bigger issue for businesses,” said Tim Moynihan, vice president of marketing, Empirix. “Organizations need networking resources that are prepared to handle the large volumes of personal data and conversations, through the various channels at a customer’s disposal. Solutions must be capable of monitoring, capturing, analyzing and responding to customer activity. The most effective strategies are those that combine network performance and quality assurance with data collection and analytics.”
The study was conducted by Coleman Parkes Research for Opus Research. The respondents targeted for this study were C-Suite executives and each was interview by phone during the fall of 2011. Fieldwork was carefully controlled and in total includes 200 respondents (100 from the US and 100 from European countries including the UK, France, Germany, Italy). Coleman Parkes Research, founded in 1998, provides comprehensive custom research services, Coleman Parkes Research was set up over eight years ago to deliver premium quality, action focused research, specialising in the business-to-business space. The company is setup to deliver premium quality, action focused marketing research, on a global scale. It specializes in B2B research with recognized expertise in IT, technology and communications.
About Opus Research
Founded in 1985, Opus Research is a research-based advisory firm providing critical insight and analysis of enterprise spending on software and services that support multimodal customer care. Opus Research calls this market “Conversational Commerce” with tailored coverage and sector analysis that includes speech processing, call processing, natural language understanding, voice biometrics and contact center automation on premises, in the cloud or as a hybrid of the two.
Empirix is the recognized leader in end-to-end network performance visibility. We help service providers, mobile operators, contact centers and businesses master the complexities of transforming and managing networks to enhance customer experience and create profits. The company is uniquely able to provide a complete understanding of how customers experience voice, video and data applications in a single solution optimized for troubleshooting and in-depth service analysis. Through testing, monitoring, analytics and intelligence, Empirix helps companies around the world realize the full value of their technology investments. For further information, please visit www.empirix.com.