Oracle Webinar Review Experience Economy
A Review of Oracles Intelligent Service in the Experience Economy Webinar Broadcast on 17th September 2020
We attended this virtual session and would like to share what we consider the most relevant points. The presenters included Rob Tarkoff (EVP and GM Oracle CX and Data Cloud), Chris McGugan (Senior Vice President, CX Service) and Jeff Wartgow (Vice President, Product Management). This slide below sums up some of the changes that we have been faced with as a society
Rob set the context by talking about how Covid-19 has impacted the Experience Economy. He describes an across the board massive disruption and states that, “We don’t know what the new normal is going to look like“. The slide to the left sums up some of the changes that we have been faced with as a society:
With this as a backdrop is there actually an opportunity to get ahead of the competition? Firstly, how well can your organisation adapt, he asks? Can you switch your operation to a mostly remote model? Can you scale your operation to handle spikes in traffic – for example the State of New York had to rapidly increase its workforce to deal with citizens’ queries.
Secondly, focusing on the customer experience, how do you perform in the 3 areas highlighted – empathy, context, and authenticity – in the slide below? The suggestion is that if these are in place then you’ll have a serious competitive advantage.
1.Are you authentic in your service transactions? Do your customers trust you, can they rely on you? Do your agents have all they need to respond quickly and really get to the nub of the issue?
2.Are you empathetic, in other words able to connect emotionally with your customers and understand what they are going through?
3.Can your service agents appreciate the context of the queries, dive into the detail and provide a solution that is pitched at the right level?
In the second part of the webinar Jeff fired a variety of questions, some related to science fiction and box sets, and others related to this topic, at Chris. Here are 3 points of note:
1. The Digital Trifecta
A new phrase was used in the context of “Service” – the Digital Trifecta! This encompasses the Digital Assistant, Intelligent Advisor and Knowledge. The three need to be very closely aligned to maximise the benefits for customers. None of these can standstill – Knowledge needs to be tweaked and added to; the Digital Assistant and Intelligent Advisor need to be able to handle a shifting set of queries.
It is worth reiterating that Intelligent Advisor can be used as the engine that drives the conversations that the Digital Assistant presents to customers.
Some examples were shared where customers didn’t realise they were liaising with bots; some organisations have even received thank you letters to the bots!
2. The Unified Platform
The Unified Platform is about bringing all your functions onto a single platform, powered by Oracle Cloud Infrastructure. Not only does it include the elements in the diagram below – Marketing & Sales, Service, Supply Chain, HCM, and ERP – but it also includes authentication and security.
The data – and let’s remember that data is and always has been at the heart of what Oracle do – can be reported on so that you have an end-to-end snapshot of how your organisation is performing.
3. Where to Start
When starting a project that unifies a platform or is a digital transformation, what are the most important points to consider? If you haven’t already got one, then create the role of Chief Digital Officer who can oversee the entire piece; this avoids the situation where pillars head in slightly different directions. In addition, before anything happens, it’s really important to analyse the data that already exist and clean it up. A Customer Data Master tool can be used as a central repository of data where de-duplication can take place.
In summary we found this session very useful. The virtual presentation format worked well. The topics covered were all relevant and applicable to modern service.
There are further sessions planned plus you can see recordings of past sessions, including the one discussed above, here: