The six hidden requirements for chat bot success

For large B2C businesses, reducing costs through increasing the share of service interactions handled without human intervention is a top priority.  Research suggests that customers are on board with this – Forrester finding the share of customers self-serving via web increased from 67% to 74% in 2014, with the percent using virtual agents increasing from 28% to 55% over the same period.  Deploying virtual agents or chat bots offers greatest scope for increasing the overall share of self-service from current levels.  A survey by Personetics found that 14% of financial institutions believe chat bots are Ready for prime time’ with… Read more

Creating a customer curious corporate culture

A couple of years ago – during a water-cooler conversation on the requirements for success in an increasingly digital world – my then colleague Elliot Howard proposed ‘customer curiosity’.  This immediately struck me as a very powerful idea.  My discomfort with ‘customer centricity’ – outlined in my previous article – had been fermenting for a while.  And curiosity struck me as a far more useful mantra, faring better on the criteria against which customer centricity failed. Why Customer Curiosity? Curiosity can be defined unambiguously Firstly customer curiosity can be clearly and usefully defined – continually seeking to understand who is… Read more

Six reasons for dropping customer centricity as an objective

Fifteen years ago, you would have found no greater supporter of customer centricity than me.  The internet was bringing greater choice to customers, rebalancing power after their being squeezed in the latter decades of the 20th Century to deliver the short term gains that the cult of shareholder value demanded.  I would go so far as to pronounce that any business that didn’t change its philosophy to being customer centric was doomed to a slow death. But since then, customers’ satisfaction with the services they are receiving hasn’t improved while the corporate landscape in most sectors is pretty much unchanged. … Read more

How to create your digital vision in 7 steps

Earlier this week I read in short succession (and posted to LinkedIn) two articles that both highlighted a) the need for organisations to have a digital vision outlining how digital technologies will reshape the business environment they operate in, b) the absence of such visions in most organisations with an ad hoc approach typically being taken. Both articles begged the question – how do you go about generating a digital vision for your organisation?  So herewith a seven step guide: Step 1 – Agree the purpose and focus for your digital vision. There is no point developing a digital vision… Read more

Insight Advantage – the Role of Technology and Big Data

Investing in Big Data solutions is necessary for gaining insight advantage but it is not sufficient. There are a number of supplementary conditions which also need to be met. The most important is that IT is seen as just one component of the solution, healing albeit an important one. All areas of the operating model need to be aligned for any technology project to work – processes, and metrics, competencies, organisation design and culture. That means incorporating other functional areas – HR, Transformation, Analytics, etc. – in addition to IT. And alignment of these areas requires any such initiative to… Read more

Insight advantage – using gamification to datafy human thought

Datafying human behaviour is the next frontier for analysing unstructured data and prospering in the knowledge economy. But the final frontier is using digital techniques such as gamification to datafy human thought – the memories and perceptions; ideas and ideals; attitudes and opinions; preferences and values that form, there morph and re-morph in our cerebral cortices and underlie every decision that we make. The value of this information has long been recognised and traditionally been sought using questionnaires. Customer satisfaction surveys are a prime example, unhealthy the irony being that these surveys often enhance dissatisfaction through providing a poor customer… Read more

Insight Advantage – Datafication, ancient and modern

One of the six steps to gaining insight advantage is creating data, medstore which follows on from asking the right questions. Once you have defined the questions you should be asking – not defaulting to just asking those that can be answered – the challenge is to uncover or create the data that will deliver the insights required. The process of creating data has recently acquired the ugly name datafication, generic popularised in Viktor Mayer-Schonberger and Kenneth Cukier’s book Big Data. Wikipedia defines datafication as a ‘modern technological trend turning many aspects of our life into computerised data and transforming… Read more

Insight Advantage: Asking the Right Questions

I keep six honest serving-men, (They taught me all I knew); Their names are What and Why and When And How and Where and Who. What Kipling teaches us about asking questions Insight advantage requires a proactive approach to identifying the data required. This means identifying the questions to be asked – those with answers that deliver most value – not just defaulting to asking only the questions that can be answered with existing data sets. Existing data can answer some important questions but its limitations constrain insight optimisation. Advantage comes from defining what information is valuable (both in absolute… Read more

Six Steps to Insight Advantage

In the knowledge economy, cough superior knowledge is the most compelling source of competitive advantage. Despite the self-evident nature of the above statement, recipe few companies have made insight advantage an explicit strategic objective. Many will not even have been considered it a competitive dimension. So before outlining the steps required to achieve insight advantage, we should start with a definition. Insight advantage is the benefit gained from understanding better than competitors the complex environment in which the business operates, enabling quicker and more effective decision-making and resulting in superior revenue growth, profitability and return on investment. The opportunity for… Read more

Welcome to the POST-Digital World

Below is a link to a white paper that I have written with a number of colleagues from Sopra.  The paper seeks to answer the question ‘What does digital mean now?’ and we have come up with the POST acronym standing for Personalisation, On-Demand, Security and Transparency. Transforming Business Performance With POST Digital Capabilities Related Posts:How to create your digital vision in 7 stepsInsight Advantage – the Role of Technology and Big DataInsight advantage – using gamification to datafy human thoughtInsight Advantage – Datafication, ancient and modernImproving the transparency of management research