Opportunities and Challenges in Utilizing Customer Experience Analytics in B2B Contexts
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School of Business |
Bachelor's thesis
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Date
2023
Department
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Mcode
Degree programme
Tieto- ja palvelujohtaminen
Language
en
Pages
30
Series
Abstract
Recent research suggests that customer experience management and particularly customer experience analytics are becoming increasingly important among business managers and in the whole corporate sector as it provides a source of competitive advantage and long-term customer partnerships. Especially the utilization of customer experience (CX) analytics in business-to-business (B2B) contexts has been a topic of increasing interest in recent years. The goal of customer experience is to create a positive, seamless, and engaging experience for customers that meets, or preferably, exceeds their expectations. Capturing and analyzing data from customer interactions and relationships, along with the needs and requirements of customers, can provide useful insights into the customer journey and influence initiatives to improve customer experience, satisfaction, and ultimately customer loyalty. The aim of this thesis was to explore the opportunities and challenges that B2B companies encounter while utilizing CX analytics. The research was conducted through a literature review to explore and analyze current literature on the topic. Relevant literature was chosen from the search results used in Scholar and Scopus, and forward and backward citations were utilized to identify additional relevant literature. The research chosen for the analysis was made by selecting relevant articles from 2016 onward with a couple of exceptions. Based on the findings of this thesis, CX data, analytical tools, and measures, as well as an analytics culture, are seen as enablers for the creation of CX insights. The insights derived from CX data with the help of efficient CX tools such as text mining and AI are highly beneficial and should be applied as strategic information to guide CX actions. The implementation of CX analytics in a B2B environment can cause challenges for companies and complicate the creation of valuable and accurate CX insights. This research identified the complexity of the B2B process, data collection limitations, and the utilization and analysis of the correct CX data as the key challenges that B2B companies encounter during the implementation of CX analytics. To overcome these challenges, B2B companies must focus on a well-planned strategy to identify the goal and scope of CX measurement, in addition to correctly measuring high-quality meters to assure the accuracy of CX insights.Description
Thesis advisor
Bragge, JohannaKeywords
customer experience analytics, CX analytics, B2B, opportunities, challenges