Executive People, The Netherlands: Director of Cognizant’s Center for the Future of Work Says Enterprises in Europe Missing out on Opportunities Presented by Digital Data

“The digital experience that companies offer to customers can be expanded upon, personalized and tailored,” says Ben Pring. “We can now clearly see just how far many companies have to go on their digital journeys, especially when it comes to collecting, analyzing and distilling meaning from the data that swirls around every digital interaction that every organization now has with its consumers.” Excerpts:

“A new study from Oxford Economics and Cognizant’s Center for the Future of Work today reveals that large numbers of enterprise businesses in Europe are not yet taking the necessary steps to unlock the value and opportunities provided by their customers’ digital experiences.

These findings should serve as a call to action for those in charge of their organization’s digital future.

The findings reveal some unique insights into the readiness of major enterprises to take advantage of the opportunities provided by interacting with their consumers via digital channels. While the majority of respondents (59%) say that analysis of digitally derived customer data is key to their company’s innovation efforts, there is little confidence in the quality of their digital offerings. Only a third (33%) of respondents believes their customers’ digital experience could qualify as “high quality” and only 3% believe that it is “excellent”.

In order to address the modern challenges involved in improving use of available data, companies should turn to the digital information that surrounds each customer, organization and device—what we at Cognizant call Code Halos. Every online click, comment, search or social media post a customer makes provides greater insight into their behavior, preferences, and needs. By tapping into and analyzing this data, companies can understand their customers better, react faster when needed, and anticipate future requirements to drive future growth strategies.”

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