How to Overcome Analysis Paralysis in Your Business

How to Overcome Analysis Paralysis in Your Business

Is your business struggling with analysis paralysis?

What is paralysis analysis?

Leading psychologist Barry Schwartz introduced the term ‘Paradox of Choice’ to explain his findings, that increased choices can cause significant problems in our lives. While more options mean we are more likely to achieve the right results objectively, too many options can lead to anxiety and indecision.

Never has the issue of analysis paralysis been as significant as it is in today’s digital world where consumers have more access to information, communication opportunities, and tools than ever.

The issue of ‘too much choice’ affects business operations in a variety of ways. Not only do your customers need help finding the right path to purchase, but your employees need assistance understanding the valuable data that could help them to operate better.

So, what are the challenges of analysis paralysis, and how do you beat them?

What causes decision analysis

What Causes Decision Paralysis?

Analysis paralysis occurs when someone has access to too much disorganised information, and it can affect various parts of the standard business landscape. However, it’s particularly prevalent in the modern contact centre, where data is everything. It’s not enough to just have the data available for your employees to access. Business leaders need to convert useful customer information into actionable insights for employees. Studies show that the average knowledge worker spends about 30% of the workday searching for information.

Giving employees access to effective tools for recording and analysing information ensures that today’s teams can make informed decisions about what their customers need, guiding them more effectively to secure repeat purchases and achieve satisfying results.

Customers need personalised and relevant experiences to help them overcome their own issues with choice paralysis. Around 91% of customers say that they prefer to buy from companies offering solutions specific to their needs.

What does analysis paralysis mean to your business

What Does Analysis Paralysis Mean to your Business?

The more pressure an employee is under to search through piles of data for the right information, the more likely they are to struggle with cognitively demanding tasks. Large amounts of disorganised information in the business detract from the potential benefits of conversation analysis. Equally, it leads to problems such as:

1. Lost productivity and creativity

Overthinking and decision paralysis reduce our ability to perform cognitive tasks, like figuring out where to send customers on their purchasing journey. However, Stanford University research also reveals that it reduces our creative potential too. Team members will struggle to think outside of the box.

2. Lack of engagement

One study published by the National Academy of Science found that ‘decision fatigue’ is a common problem for people who face analysis paralysis. Too much information can kill creativity, make your employees less happy, and stop them from feeling truly invested in their work.

How to Beat Analysis Paralysis

Beating analysis paralysis is simple. To do this, you need to make the decision-making process as simple as possible for your team. Rather than just collecting information and making it available to your employees, transform the data you collect into actionable insights.

Setting up systems to monitor data in real time will help your employees to keep track of crucial metrics and changes as they happen. You might even use wallboards and visual graphs as a gamification tool to demonstrate how your employees are performing compared to their peers.

For the long-term data that your company collects, use intelligent analysis to learn from critical trends. Having a system set up that allows you to see what’s happening in calls and conversations from beginning to end can show you the most common problems your employees face every day. This ensures that you can implement the right strategies to eliminate bottlenecks. For instance, you might notice a potential call routing issue in place that makes it harder for customers to reach the right employee. If that’s a concern, you can update your routing technology to ensure that the agents get to deal with the problems most suited to their skillset.

Replacing analysis with action

Replacing Analysis with Action

Analysis is a critical part of any business strategy for excellent customer service. However, team members don’t have the time or the focus to continually analyse every part of the customer experience. Instead, supervisors and team leaders need to implement tools that can do the analysis on behalf of the employees, to focus on delivering the best experience to customers.

With an end-to-end analytics system, you can access in-depth reports that show you everything you need to know – from missed calls and revenue opportunities, to identifying when you need extra staff to deal with peaks in traffic, and understanding where employee training is required. In a world where contact centres have access to more data than ever before, your agents don’t need a constant stream of data, they need:

1. Clear, relevant context 

Agents need access to information relevant to each case they’re dealing with. Setting up platform integration can ensure that when an agent connects with a customer, they have immediate access to the customer’s data and can serve resolve queries more quickly.

2. Structure and guidance

Employees should have instant access to best-practice information and insights that inform them of the next best steps for their current situation. Analyse the current processes that your employees use to deal with customer concerns and find out what works best for both customer satisfaction and employee engagement. Once you know which practices are driving the best results, train your teams to use those methods.

3. Limited access to data

A key way for anyone to beat decision paralysis is to intentionally limit the amount of data they consume. Employees only need access to so much information. Overwhelming them with too much data causes confusion and can create issues with privacy and compliance. Make sure your teams are getting access to only the information they need. This could include metrics such as average call handling time, customer satisfaction scores, and customer profiles.

4. Accountability

Encourage your employees to keep moving at the right speed with friendly competition and support. Gamification and wallboards that allow agents to compare their performance to others keeps team members focused on getting the job done. With a clear goal in mind, it is easier to overcome the issue of choice paralysis and jump into action faster.

5. Clarity

Give your employees insights into the most important objectives behind their tasks. What are the metrics and KPIs that they should be most interested in? How should they evaluate their work, and what kind of values should drive their decisions? Knowing your main objective in any task makes it a lot easier to make the right decision.

How to beat analysis paralysis

Don’t let your team be paralysed

Analysis paralysis is a very real problem in today’s digital landscape. As data continues to thrive as the world’s top commodity, and companies see the benefit of using the information in customer interactions, we have access to more options than ever. Unfortunately, overwhelming your employees with too much information causes a lot of problems.

While all companies can benefit from more analytics in their business processes, it is important to ensure that data doesn’t drown your team.

Take those pools of information and transform them into guidelines that push your employees in the right direction. It’s time to turn paralysis into action.

Find the right analysis tool with the right data

Discover which of Akixi’s call management solutions will set up your team for greatness. while eliminating analysis paralysis. Give our Product Selector Tool a try.

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How to Overcome Analysis Paralysis in Your Business
2020-10-26T12:14:35+00:00
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