customer segmentation
Customer Service – A Chance for Redemption
In a very tough economy, keeping customers happy should have more considerable weight and attention from companies. I had a negative customer experience recently at Home Depot, where they had a chance to redeem themselves from a very poor customer experience.
In a very tough economy, keeping customers happy should have more considerable weight and attention from companies. I had a negative customer experience recently at Home Depot, where they had a chance to redeem themselves from a very poor customer experience.
Variation for Dummies
Most organizations collect and report on metrics that are not descriptive of their processes. Some of you may have noticed that most metrics that are reported are the “average” and some organization also use the “median”. Most people do not understand elementary statistics and their application to business. Here is the truth of the matter: Your customers do not feel the average — they feel the variation.
Most organizations collect and report on metrics that are not descriptive of their processes. Some of you may have noticed that most metrics that are reported are the “average” and some organization also use the “median”. Most people do not understand elementary statistics and their application to business. Here is the truth of the matter: Your customers do not feel the average — they feel the variation.
Jack Welch & The Boston Globe, Final Chapter
Previously in Part 1 and Part 2, we discussed the possibility of Jack Welch acquiring The Boston Globe. We’ve discussed several things Jack might do, if the deal goes through. All of which, has to do with the Profit Tree model, which is below:
Previously in Part 1 and Part 2, we discussed the possibility of Jack Welch acquiring The Boston Globe. We’ve discussed several things Jack might do, if the deal goes through. All of which, has to do with the Profit Tree model, which is below:
Jack Welch & The Boston Globe, Part 1
This is part 1 of a 3 part series. The other parts can be found here: Part 1, Part 2, Part 3.
There’s a rumor that Jack Welch and his private equity partners might acquire The Boston Globe. When I heard this, I immediately thought of the following: if Welch bought it, how would he add value to the Globe and, consequently, how would he add value to the shareholders?
This is part 1 of a 3 part series. The other parts can be found here: Part 1, Part 2, Part 3.
There’s a rumor that Jack Welch and his private equity partners might acquire The Boston Globe. When I heard this, I immediately thought of the following: if Welch bought it, how would he add value to the Globe and, consequently, how would he add value to the shareholders?
Applied Regression Analysis
Sometime ago, I was able to do some work involving advanced statistics for a very complex process. This very large healthcare company was struggling with absenteeism issues — that is, the call center representatives would sometimes just not show up for work, or have other human resources issues. I wasn’t privy to those details, and I didn’t really care. But, I was concerned about the impact that absenteeism had on service level, which is defined as
Sometime ago, I was able to do some work involving advanced statistics for a very complex process. This very large healthcare company was struggling with absenteeism issues — that is, the call center representatives would sometimes just not show up for work, or have other human resources issues. I wasn’t privy to those details, and I didn’t really care. But, I was concerned about the impact that absenteeism had on service level, which is defined as
Focus on the Customer
Jeff Bezos, during a pre-peak meeting once said to a small group of us that there will be many, many winners on the internet. He said that some follow the close-follower mentality and those companies focus on the competition. He continued to say that Amazon has and always will be customer obsessed. He vowed that neither he nor Amazon would ever focus on the competition. He said that customer happiness is the right and only solid thing that we could ever hope to spend our time on. Focusing on the customer breeds innovation and ensures healthy direction. In creating great products, software, or companies, his words are good words to live by.
Jeff Bezos, during a pre-peak meeting once said to a small group of us that there will be many, many winners on the internet. He said that some follow the close-follower mentality and those companies focus on the competition. He continued to say that Amazon has and always will be customer obsessed. He vowed that neither he nor Amazon would ever focus on the competition. He said that customer happiness is the right and only solid thing that we could ever hope to spend our time on. Focusing on the customer breeds innovation and ensures healthy direction. In creating great products, software, or companies, his words are good words to live by.
The Pareto Principle
The Pareto Principle was named after an Italian economist who discovered that 80% of the wealth in Europe was concentrated in 20% of the population. This discovery is also known as the 80/20 rule or the Law of the Vital Few. The Pareto Principle is a phenomenon that finds application in many places, such as software engineering, quality, manufacturing, word-of-mouth marketing, human resources, and government; the 80/20 rule was also popularized by the book “The Mckinsey Way” as a principle by which Mckinsey consultants follow to solve client problems.
The Pareto Principle was named after an Italian economist who discovered that 80% of the wealth in Europe was concentrated in 20% of the population. This discovery is also known as the 80/20 rule or the Law of the Vital Few. The Pareto Principle is a phenomenon that finds application in many places, such as software engineering, quality, manufacturing, word-of-mouth marketing, human resources, and government; the 80/20 rule was also popularized by the book “The Mckinsey Way” as a principle by which Mckinsey consultants follow to solve client problems.
Don’t Waste the Customer’s Time
Very few service providers, regardless of service, look at the customer’s experience — from the customer’s point of view. If they did, service providers would realize that customer’s wait around a lot and much of the customer’s time is wasted.
Very few service providers, regardless of service, look at the customer’s experience — from the customer’s point of view. If they did, service providers would realize that customer’s wait around a lot and much of the customer’s time is wasted.
