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Advance Your Customer Analytics Maturity

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FOR CUSTOMER INSIGHTS PROFESSIONALS Advance Your Customer Analytics Maturity February 4, 2020 © 2020 Forrester Research, Inc. Unauthorized copying or distributing is a violation of copyright law. Citations@forrester.com or +1 866-367-7378 9 Roadmap: The Customer Analytics Playbook Recommendations Prioritize Your Next Steps Once you've assessed your current maturity and identified your next steps, you need a method for deciding how and when to tackle each task. Your immediate priorities and the urgency you ascribe to each task have a lot of dependencies, such as the task's potential value, your organization's culture, and the resources at your disposal. Get one step closer to taking action by considering: › What is the value of this task? To prioritize tasks, clearly articulate the value of each task for your business and the value for your customers. Determine how critical it is for the business and consider whether your competitors are already doing it. Also take into account whether your customers will benefit from the changes. Depending on your answers, this task may become a top priority — or it may not be worth doing right now. › How urgent is this task? Consider your benchmarks: where your customer analytics capabilities are compared to industry peers. If you're playing catch up, this to-do could be considered urgent. If you're an industry leader in customer analytics, this task can likely wait. Another important consideration is whether one high priority hinges on another's completion. These factors will help define the way you prioritize roadmap items. › How will you measure success? After you have a clear objective, think about the specific KPIs that will help you benchmark your performance. Carefully determine what they will be and how you will measure the impact of your projects. Keep in mind that it's a best practice to select a quantifiable, and preferably financial, success metric. 4 › How long will it take? Approximate the timeline to complete tasks — and be realistic. Timing will depend on many factors, including culture, your current data inventory, technology resources, the task's feasibility, team bandwidth, and how you've defined the task's urgency. Ultimately, some efforts and initiatives will take longer than others; for example, establishing additional proof points or finding the right kind of analytics talent for a new role can easily take several months. › Who else needs to be involved? A robust customer analytics function will span enterprise silos. Think about what type of internal support you'll need for your next steps: human capital from different groups (e.g., marketing, product, data), access to resources, and ongoing collaboration. Also consider the need for any external support, such as new technology partners, strategy consultants, or data management providers. 5 › How much will it cost? Do your research and then demonstrate where and when you'll spend budget. Take into account any areas that may require additional business case development. If that's the case, seek objectives and pick pilots that will demonstrate monetary impact on the top or bottom line. 6

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