Rob Daniel, Vice President of Customer Loyalty and Insights at BMO, explained why data teams are vital to their organizations during his presentation at the 2014 Customer Care Leadership Forum in Toronto on March 5. In his presentation, “Making Data Teams More Impactful,” Daniel said data is valuable for organizations, but only if they understand how to use it properly.
According to Daniel, today’s organizations are able to collect data from myriad sources. However, Daniel noted the ability to synthesize data is still a major problem for many organizations. If organizations understand how to leverage data analysis tools, Daniel said, they could improve their customer service: “For me, the biggest issue is that the creative intelligence and human process required to synthesize all of the data that is at the fingertips and that is available to decision makers hasn’t kept up with our technical ability to process, aggregate and capture data.”
In addition, Daniel said there is plenty of data available to organizations. Collaboration is key, Daniel said, because it ensures different departments within an organization can collect data and evaluate it together. Daniel noted organizations should consider new ways to collect and evaluate data to bolster their customer satisfaction levels: “Something needs to change in the way we report out action plan and think about innovation that comes from data. This is incredibly important because most people think that the data is simply going to appear on a slide and actions are going to pop off that slide and intuitions and business decisions are going to pop off that slide.”