For decades, businesses have depended on operational data (O-data) to understand what is happening – hard numbers like costs, accounting, and sales – to inform business decisions. Experience data (X-data) measures the human factor data – an individual’s beliefs, emotions, and intentions – that tell you why something is happening. Together, X- and O-data ensure every business decision is based on both facts and perceptions.
In today’s experience economy, the value of any organization is dictated by the experiences of its customers, employees, and other constituencies, and those experiences can be shared and amplified globally and instantaneously. As a result, brand perception and reputation can shift quickly. Organizations that detect these factors and thoughtfully shape interactions with customers and employees can close experiences gaps, create differentiated experiences and sustain competitive advantage.