On 14 November 2016, exactly one year ago, Lumoame Oy was registered in Helsinki. This year has been an amazing journey for us and we wanted to share this important moment with you.
No surprise, the main discussion topic at #LumoaAnniversary was Customer Experience. We celebrated our first year with our supporters, friends, and customers. Customers have been at the center of all our operations since the very beginning.
One of our speakers, Johanna Vesterinen, Xperiencefocus, noticed that many companies collect customer feedback, but fewer and fewer keep going through the CX funnel itself and reach the end. That brings us to the question:
What’s the purpose of customer feedback?
Customer feedback allows us to go deeper into customer experience and understand what drives your revenues up and down.
Currently, lots of the companies implemented the process of collecting customer feedback. Often, these companies also are using massive questionnaires asking about each aspect of CX. Sadly enough, the more questions you ask – the more data you receive – the less likely you’re to go through the data.
Johanna stated: “typical areas of development are feedback collection system in need of updating, issues with analysis and sharing data and/or immature measurement, meaning unidentified metrics or goals”.
The increasing role of machine learning in all business fields, including customer experience, was the presentation topic of Tommi Vilkamo, eCraft. Tommi told us that even though some people are afraid of machines taking over, most of us are excited to start using artificial intelligence technologies.
In fact, the machine learning will possibly substitute routine, high-volume and high-speed tasks and humans will focus more on strategic, creative and unique tasks. This way, the cooperation between humans and machines, results in the highest productivity.
According to Tommi, machine learning is going mainstream and 85% of companies already see it as a potential key source of competitive advantage. However, the opportunity is still open as only 5% of companies has managed to adopt it in scale.
We are excited about the next year. More product development. More meetings and conferences. More customer experience. More Lumoa.
Pictures taken by Verena Rentrop