“Innovating analytics is critical in baseball, in politics, and in business. Larry Freed is at the forefront of developing useful new metrics that will help businesses succeed.” —Billy Beane , General Manager of the Oakland Athletics and the subject of the bestseller Moneyball . “Challenging conventional wisdom and building upon the wealth of knowledge derived from one of the most widely used customer experience measurement tools in business today, Innovating Analytics is an essential addition to any marketer’s library. Clearly Larry Freed is one of the leading minds in the customer experience industry, as he thoughtfully offers tested and practical strategies that businesses can implement immediately.” — Bruce Rogers , Chief Insights Officer, Forbes Media " Innovating Analytics is a natural extension of Larry′s career–long exploration of innovative business solutions.” —Thomas H. Zurbuchen , Associate Dean of Entrepreneurial Programs at the University of Michigan “Larry Freed and ForeSee are at the forefront of transforming business around the world with actionable, predictive metrics. Innovating Analytics contains critical information for any executive who wants to improve business outcomes.” —Rick Snyder , Governor of the State of Michigan “Innovating Analytics is a compelling exploration of the potential power of customer experience metrics in the modern age. Larry Freed’s combination of academic research with practical business implementation makes this book a must–read for any business leader.” —Mark Mahaney , Managing Director at RBC “Too many businesses are relying on metrics that are outdated and have no relationship to company growth and profit. Innovating Analytics is a must–read for any executive about the power of good metrics and the dangers of bad ones.” —Claes Fornel l, Founder and Chairman of the ACSI and author of The Satisfied Customer
From the Inside Flap
A satisfying customer experience is the driver of any business's revenue growth. If you know how to measure and improve the customer experience, you will increase sales, return visits, recommendations, loyalty, and brand engagement across all channels. Over the past decade, Net Promoter Score, has become a Key Performance Indicator used by businesses all over the world, from small mom-and-pop shops to Fortune 500 giants. However, NPS has not kept pace with the evolving world of customer behavior and customer experience analytics. Enter the Word of Mouth Index (WoMI). Innovating Analytics introduces and explains WoMI, a metric that measures a customer's likelihood to recommend or to detract. Tested on hundreds of companies and more than 2 million consumers over the last two years, WoMI provides a more accurate and comprehensive measure of word of mouth and its impact on your business. Innovating Analytics goes on to examine the four drivers of business success, why the customer experience matters, and the value of the Customer Experience Measurement Ecosystem. Through detailed guidance, it explains: What NPS is, what it does well, and how it is flawed How to use WoMI to identify a business's promoters and detractors more accurately How to use behavioral data, feedback, observation, and satisfaction to predict customer behavior Best practices for improving customer experience How to use Big Data to improve the effectiveness of marketing and merchandising This is a time of great change and great opportunity, and businesses desperately need more reliable and more useful data in order to make better decisions and achieve better results. Innovating Analytics offers the right tools to make the right assessments of how to satisfy your customers and gain a competitive advantage today.