Customer Experience

The interaction between an organization and a customer over the duration of their relationship – service has been replaced with experience. This interaction is made up of three parts: the customer journey, the touch points, and the environments customer’s experience, including the online one.

The harsh reality of today’s market is that more companies are moving away from people in the customer experience, relying more heavily on process, algorithm, and bots. Amazon steadily improved its robots to move 50 percent more inventory out of a center, helping cut operating expenses by about 20 percent. We believe that this will be happening across every industry in the next 10 to 20 years.

In some industries customer experience is less important because what matters is delivering good product/service offerings, and in other industries (e.g. cable) there are just a few big players where the experience may be spoken about as being important, but the actual process is pretty horrific.

The Internet of Things (IoT) is making it easier to do this at scale, and will change a lot for people online as some analysts believe that over 30% of web browsing will be done via voice. One key distinction in CX is that data will continue to play a massive role in how companies serve people, and more and better teams of “data scientists” will emerge to help.

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