I recently read that Satya Nadella, CEO of Microsoft Corporation, quoted a fascinating static. Every day, every hour, 40 terabytes of data generated every hour in retail.
That is 40,000,000,000,000 bytes per hour or 350,400,000,000,000,000 per year. The amount of data captured is incredible, but it has raised a question for me. If retail has all this data on its customers, why do we see continued sales challenges in the industry? So is all of this data relevant and useful?
The objective of collecting and analysing customer data should be to use the information to get a deeper understanding of the customer to drive sales and margin improvements, customer experience, satisfaction, and loyalty.
The majority of data is retrospectively collected, businesses can see what has happened and where, but not WHY a customer or consumer did what they did. The WHY is very important and can be linked to a customers subconscious decision making and how emotionally connected they are to a brand, product or service.
With 95% of our purchase decision making taking place in the subconscious mind, it is vital to understand how people genuinely feel.
Humans make about 20,000 decisions per day. Our consciousness would be hopelessly overwhelmed if it had to make each of these decisions without emotions. And even the choices that we make supposedly rational are emotionally influenced or predetermined.
Feelings are what we perceive: grief, joy, anger, jealousy or relaxation. Emotions are mostly unconscious and act as the driving force for all our action, sensations and feelings.
Measuring emotions will provide a higher level of accuracy. It requires the latest neuroscience technology to measure any interaction point you have with your client or employee.
Creating the right emotional interaction for your customers or employees is the most decisive factor when looking at increasing customer satisfaction and experience.
If a brand is not positively emotionally engaging, or if it merely shoots too many messages at its target group, it unnecessarily squanders its budget and frustrations the people it is trying to communicate with.
Forecasts predict that by 2022, over $600 Billion will be spent annually on customer experience technology which would suggest the amount of data will also increase. Businesses what to be ‘customer-centric’, so how do they put the HUMAN into the middle of this technology?
Human4x evaluates experience by measuring emotions. Using scientific methods, our neuroscientists, psychologists and industry professionals can measure the unconscious motivations and decision-making process of individuals. We then recommend actions to improve your sales, user experience and customer satisfaction.
Engaging Human Experience provides a Return on Emotional Engagement.