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Understanding Experience Data

There are so many types of data that a company can collect. In this article we will look specifically at operational data and how a market research online community can help you go beyond your operational data and find out the why behind that data. Operational data includes a company’s workers, direct competitors, creditors, supply chain, and information gathered concerning your customers. Another form of data that is combined with operational data includes strategic data such as the surrounding business environment and the specific industry that you are in. Using an experience management platform helps you understand the "Whys?" within your organization and the industry. Why are customers leaving your competitors for your product or vice versa, usually equates to the experiences they are having which in the past has been overlooked or hard to quantify.

Remote Data

One key form of data that must first be examined before turning to experience data is to look at the remote data and how it is influencing your company and or industry. Remote data includes information about the economy, such as whether it is a boom or bust period, and other economic-related trends. Other information can include political situations, such as legal or regulatory information, advances in tech, etc. These factors can have a direct impact on a company’s products and services that can help or impede a company even if they are doing everything correctly in terms of customer service and quality of products.

Operational Data

This is where company’s collect key Information on direct competitors, information on suppliers, accounting data and understanding of resources needed to compete and succeed. By collecting competing data on competitors allows the production team to make better products than the competitors. It also allows the marketing team to help show their product as being superior to the competition. Operational data can also include gathering information on customers to create consumer profiles that help with product creation and advertising. The problem with operational data is that it is dealing with past purchases and doesn’t explain the why.

Experience Data

By using an experience management platform that collects both qual and quant data from your customers and employees you are able to understand the “Why?” behind other data. Imagine you have collected all of the remote and operational data before launching a new product or service. Everything seems great, you believe that this product or service is far superior to the competitors yet the sales are dismal. By connecting with your customers you find out that there is a problem with the experience of purchase. The product is hard to find on the website. There is a problem when you click checkout etc. By connecting to your customers you are able to see what is happening from their point of view and are able to adjust accordingly.

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