When asked to evaluate how well they are using analytics, such as applying data, statistical and quantitative analysis, descriptive and predictive models to drive decisions and enhance customer experience, most organisations' perceptions are very different from reality.
Accenture's Customer Analytics Survey of 800 directors and senior managers at blue chip organisations in Brazil, China, Germany, Italy, Japan, Spain, United Kingdom & Ireland and the US and Canada showed 55% of respondents felt their methods for segmenting customers and providing relevant experiences are either "ideal" or "very good."
However, related consumer research tells a different story. Accenture's Global Consumer Survey found only 21% of consumers believe the companies they do business with are good at providing a tailored, relevant experience. Further, it showed that two out of three consumers changed service providers in the past year. With an average cross-industry churn (or defection) rate of 64%, organisations that hope to grow must provide more relevant and satisfactory customer experiences.
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Accenture is a global management consulting, technology services and outsourcing company, with more than 215,000 people serving clients in more than 120 countries.