Customer Insights: DIY or As-A-Service?

A new report from Forrester, based on their 2015 Global Business Technographics® Data And Analytics Survey, shows that the demand for better customer insights will drive the need for service providers as a preferred option above traditional in-house analytics providers. It’s good to see that Forrester are recognising something we’ve been saying for years.

It’s your data, these are you customers, and so the tendency to keep customer insights all ‘in the family’ and do it all in-house is common. We all love a bit of DIY. It gives us a sense of satisfaction when we’ve not had to ask for help. However, you’d be wise to know your limits. Wallpapering the spare room is one thing. Rewiring the whole house is quite another.

If you’re feeling less satisfied than you used to be with analytics in your business you’re not alone. According to Forrester’s report 21% fewer decision-makers are happy with the analytics at their companies compared to last year. That’s because you’re all facing bigger, tougher questions which need better, more timely customer insights which translate into effective, appropriate business actions.

As you grapple with big challenges around digital transformation and customer engagement your in-house data scientists might be starting to feel a bit queasy, no matter how brainy or numerous they are. Some businesses have stubbornly kept to their DIY tradition. The floors are up. The walls are down. It’s quickly turning into a DIY Disaster and they’re sending out an S.O.S.

Customer insights tasks you can DIY or outsource to a service provider

When you get under the skin of what the job of getting customer insights actually entails you can see why the DIY approach is starting to make people sweat. It’s incredibly varied and can cover many tasks.

Outsourcing these tasks to a service provider does not put your internal analytics experts out of a job either. The ability to outsource highly complex, time-sensitive projects will enable internal data and analytics teams to focus on what they’re really good at: enhancing data quality and security, embedding reporting and metrics capture into automated business processes, improving the overall insights and data culture – and now managing the relationship with the customer insights service provider.

Key benefits of outsourcing customer insights to a service provider

  • Avoid paralysis by analysis – customer insights service providers accelerate the whole process so you will see better business outcomes delivered faster.
  • Receive relevant, actionable insights which are specific to your main business questions and that focus solely on the outcome, such as how to achieve effortless customer engagement and happier customers.
  • Focus your own in-house teams on delivering more added value to customers with what those insights tell you, instead of wasting resource just trying to discover what they are.

You’ll be doing everyone a big favour if you make sure your brand doesn’t get into a Customer Insights DIY Hell. Instead find out what a customer insights service provider can do to help you with your customer engagement questions today.