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Oracle CX
When customer expectations are skyrocketing, Smarter CX is the only way forward
Today, organisations leading in customer experience (CX) grow 14 percent faster than CX laggards – yet it’s tougher than ever to give customers what they want. In our hyper-connected world the customer is now firmly in control. They are digitally empowered and spoilt for choice, demanding instant service and a deeply tailored experience in exchange for their business and loyalty.
In response to these sky-high expectations, Oracle is giving enterprises a better way to anticipate and satisfy customers.
We are embarking on a new era in customer experience – Smarter CX.
What is Smarter CX?
Briefly, it means connecting data, intelligence and experience, by using cloud solutions to enable hyper-personalised engagements, effortless transactions and customised products and services. Smarter CX responds to what customers today need, want and expect; offering businesses a new way to surprise and delight – with tailored recommendations based on past purchases, seamless shopping from offline to online, and real-time, multilingual assistance even if customer and merchant are on opposite ends of the globe.
Data is key to the Smarter CX approach.
“Customers know that businesses are collecting their personal data, and in exchange, they expect a vastly more convenient and individualised experience than anything that’s come before.”
In fact, according to Gartner , customers still expect companies to know them well, but now have additional expectations that businesses proactively predict and offer what each individual customer needs.
Data is not enough
At the same time, simply having data isn’t enough. Smarter CX requires a shift from having data, to being data-driven; which means recognising that data is a form of capital and investing in the right people and technology that can turn a gold rush of information into actionable insights. Indeed, data can not only anticipate customer needs and enrich every interaction – it can also lead to entirely new business models. Internet-born businesses like Netflix are already demonstrating the value of incorporating customer insight into product development, and Oracle believes that the next wave of opportunity lies with all types of businesses, in all parts of the world, that can do the same.
While Smarter CX can’t be built in a day, businesses can start by exploring the new generation of innovation cloud solutions; from chatbots that offer real-time customer service, to automated data collection that uncovers information more quickly and from more sources, to AI-fed machine learning to help businesses get more value from their data. Of course, it’s not just about the technology – enacting a Smarter CX approach also requires a cultural shift, starting from the top, to ensure every part of the organisation is focused on meeting the needs of the customer.
When businesses put the customer experience at the heart of everything they do, the opportunities are limitless.
“Smarter CX represents a once-in-a-generation opportunity to transform the enterprise and gain a transformative edge through winning new customers, driving loyalty, and positioning the brand to stay relevant now and in the future.”
1https://www.gartner.com/doc/reprints?id=1-3OXVTQK&ct=161230&st=sb