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February 18, 2016

If you can't measure it, you can't manage it

Posted by Abhishek Singh (View Profile | View All Posts) at 12:14 PM

Customers rule the marketplace. To witness this, one only has to look at the various indices that enterprises use to measure the customer experience such as Net Promoter Score (NPS), Customer Satisfaction (CSAT) index, Customer Experience Index (CXI), Customer Effort Score (CES), First Call Resolution (FCR), etc. However, customer experience is a dynamic phenomenon governed by several factors. There is the customer journey, i.e., how a customer moves through multiple stages of a product consumption lifecycle with an enterprise. Different consumers interact with enterprises through various touch-points such as website, mobile app, physical store, call center, social networks, etc. Further, while some consumer trends impact the top line, others impact the bottom line and some impact both. Thus, arresting certain negative trends can be cost prohibitive while driving some positive trends may generate no revenue or profitability.

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