This week, there was an interesting event held in Kuala Lumpur which had the ballroom filled to the brim. Qualtrics and the Disney Institute had hosted a lively session on “creating breakthrough experiences” and shared with attendees on how “experience data” may be turned into competitive advantages.
Attendees also learnt about how breakthrough customer experiences may be created to forge lasting and valuable relationships, together with how technology can be employed to identify trends and uncover hidden insights.
The Disney Institute was represented by Alice Edinger, one of its top executives based in Hong Kong, while Vicky Katsabaris and Troy Jennings represented Qualtrics.
Qualtrics is today an SAP company with the latter acquiring it earlier this year. According to its website, Qualtrics empowers users and managers across a business to capture customer, product, brand and employee experience insights all in one place.
Earlier this month at the SAPPHIRE NOW conference held in Orlanda, Florida, SAP had announced the availability of ten new Qualtrics offerings that combine experience data (X-data) with operational data (O-data) to measure and improve the four core experiences of business — customer, employee, product and brand.
The combination is said to enable organisations to continuously listen to the beliefs, emotions and intentions of customers, employees, suppliers, partners and other stakeholders. These new offerings — four for customer experience (CX), three for employee experience and three in market research — embed X-data directly into an enterprise’s applications, such as its CRM, ERP or HCM systems, to drive continuous action and improvement.
“Experience Management is the new frontier for the world’s best-run businesses. I have never seen SAP more fired up to help our customers be a driving force for growth, innovation and optimism,” SAP CEO Bill McDermott (pic) reportedly said.
Meanwhile, Ryan Smith, co-founder and CEO of Qualtrics, said: “We live in the experience economy where organizations are either intentionally racing to the top or unknowingly racing to the bottom. The difference between the companies that will win is they understand how X-data and O-data work together to tell the story of what is happening in an organization, why it’s happening and how to act in real time to deliver breakthrough business results.”
These new SAP offerings provide organisations with an end-to-end XM platform that uses X-data and O-data. As a result, organisations can:
- Centralize X-data from customers, employees or any other stakeholder at every meaningful touchpoint on a single, enterprise-wide system. This makes it simple for organizations to listen.
- Connect X-data to the operations and processes of their business to understand why things are happening, spot hidden trends and then automatically make recommendations to help correct what doesn’t work and magnify what does.
- Act, which leads to customers who stay longer, buy more and share with friends; and employees who deliver more, build a positive culture and advocate for their brand.
For customer experience, SAP has introduced Experience Management to the SAP C/4HANA suite, creating powerful cloud solutions for sales, marketing, commerce and service experience management. This provides an end-to-end customer experience platform in the industry, allowing organizations to listen, understand and act on insights that will drive purchasing decisions and customer loyalty.
For employee experience, SAP has introduced three Experience Management solutions that transform existing HR platforms into enterprise-wide systems of action. Built directly into existing HR systems, the solutions gather experience data from employees throughout the employee lifecycle and empower HR leaders and managers to listen, understand and act on insights that will attract, engage and retain a world-class workforce.