Our ThinkingChampioning the Cause for Small Data
There has been much said and discussed about Big Data; combined with advanced analytics it is indeed a powerful set of techniques and does allow an incredible insight into customer behavior and needs with the ability to gain control of previously impenetrable piles of information.
We would, however, like to champion a new cause: Small Data. The fundamental problem with Big Data as an applied science is that it is designed first and foremost to benefit the business that is selling or serving the customer. Loyalty cards may have direct consumer benefits, but the insights and power that is gained by the retailer is disproportionate. It’s why many consumers are turning away from yet another card (or app) to carry with them, to manage their points and to feel frustrated when the offer has just expired or the card is left at home. Likewise insights into seasonal, geographical or product based segmentation patterns can be of great use to a business, but why does a customer care? Indirectly the consumer may benefit from this as store patterns evolve, new products are introduced and contact centre handling times may change, but being counted as an aggregated statistic does not bring good customer experience as a direct consequence.
The data that interest customers is their data, their “world” – small data, that is focused around their needs and wants.
Data that differentiates them.
Data that makes it personal, but not too personal, depending on individual perceptions.
Data that helps drive a good customer experience at the moments of truth.
If businesses and organisations can see the whole experience from the customers’ perspective and experiences, then the collective whole – the big data picture – would be a summation of great customer experiences that would truly provide insight. It would make the customer feel that they were not just contributing to a gigantic data machine to increase the bottom line of a company, but give them recognition that each small sale and each good customer service interaction builds the experience that big data can then record as a true revolution in how to use data with the customer at the centre.