Intelligent CXO Issue 13 - Page 27

BUSINESS STRATEGY companies didn ' t need high-quality behavioural data : the need only arises when organisations start using it to execute more analytically demanding use cases .
The ability to set up proper tracking , with proper testing and proactively monitor data quality ( including identifying and resolving data quality issues at source ) is critical if behavioural data is to be used to drive meaningful customer understanding . Companies need to move away from a ‘ track everything ’ approach and instead adopt a more intentional approach to data collection that enables a more deliberate and transparent use of the data to benefit the customers that the data describes . pricing , promotion and personalisation , they need to start by collecting behavioural data that is fit-for-purpose .
The only way to do this is through a Behavioural Data Platform ( BDP ) that provides flexibility and control over how data is collected , rather than relying on packaged tools to collect it and export it as a by-product .
The role of a behavioural data platform
A BDP provides behavioural data management and companies can use it to collect and operationalise behavioural data .
Currently , most organisations are using behavioural data to power a limited set of use cases . Typically , this is done via commercially-packaged analytics tools , such as Google Analytics , Adobe Analytics and Amplitude .
While these tools are great for measuring and optimising marketing campaigns and improving conversion rates , they are not as good at driving the deep customer insight required to power personalisation and other sophisticated use cases .
Often , they don ’ t enable the integration of data sources , leaving organisations unable to see the full picture and drive meaningful impact to their revenue and profit . If businesses want to use behavioural data and AI to drive more effective customer acquisition , customer lifetime value ,
A good BDP will allow organisations to capture rich , granular , and accurate eventlevel behavioural data and power real-time use cases . It will also enable businesses to change what behavioural data they capture as their organisations / customer-service functions evolve .
A key benefit of a BDP is empowerment of the service team across different use cases . By equipping support teams with actionable customer insights , organisations can not only solve customer problems quickly but also predict and proactively solve future requirements . That means responding to particular customer needs and sensitivities , being alerted to upsell opportunities and indicators , and helping the customer achieve their end goal in fewer interactions . x
Yali Sassoon , Co-founder at Snowplow www . intelligentcxo . com