Finding the Creative Spark

The Chicago Tech Summit was a one-day conference as part of Chicago Ideas Week that focused on sharing leading trends in entrepreneurship, web, design, data and innovation.  The day was spent with executives from GE, Etsy, Quirky, IDEO, Myspace, Lulu, Groupon, PayPal and Girls Who Code, among others, learning about their experiences and industry best practices. …

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2013 Customer Insights & Experience Diagnostic Survey Results

Many firms believe they are customer-centric and focused on improving their customer experience, but what measurements do they have in place to be sure? Industry benchmarks and best practices vary, and the customer landscape is constantly shifting, so success in this area can feel like a moving target. While some of organizations are realizing results from their customer experience efforts...

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The What and Why of Natural Capital

In your first week of Econ 101 you were probably introduced to the idea of capital. To a firm, capital represents the physical equipment or inputs that are used in the production of a good or service; basically capital is what you use to run your business. Traditionally, economics has separated this type of capital from natural resources primarily because natural resources were always...

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When Will the Black Friday Madness End?

I remember when part of my family’s Thanksgiving tradition was finishing our delicious meal together, cleaning off the table, then busting out the Black Friday ads. We would all pass these ads around the table, circling and initialing the items that caught our eye – either as a potential present for us or for someone else.…

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Simulating Retail – Enter the Customer

This past May at the IIE National Conference, we presented a case study about the challenges and benefits of simulating retail store operations. Simulation is a tool that utilizes a computerized model of a real world system or process that is run over time periods reflective of reality. It is a great tool for a company to test changes to its operations in a virtual environment, without...

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A Shoppers Paradise, or Paradox?

There’s a widening gap between where digital technology is leading us and what many retail consumers are psychologically prepared for. On one hand, having our favorite brands recommend products, or allowing us to flow effortlessly between physical stores and online sites, or providing personalized offers, is preferred if not required to stay relevant.…

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3 key aspects companies should incorporate into their customer service

Like most customers, my mood turns sour when I encounter poor customer service. However, personally, poor customer service (long hold times, unpleasant CSRs, inconvenient processes) still feels like the norm and therefore I try to not let it ruin my day. But what I recently found out about myself as a consumer, is that I’m far greater impacted (in a positive way) by excellent customer service...

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E-receipts are fashionable at the mall but will banks follow the trend?

Wells Fargo was the first bank to offer emailed receipts at its ATMs back in June 2010.  In fact, yesterday, Wells Fargo announced that in addition to its email receipt option, it would now also offer a text message receipt choice for customers using its 12,000+ ATMs across the country. Wells Fargo is the first financial services company to offer this feature, continuing the e-receipt...

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Clearwire’s Deal Value

Aside from all the economic considerations between Sprint Nextel Corp’s and DISH Network’s offer to acquire Clearwire, there is real value that Clearwire brings to the deal.  Understanding how a new partner will support this can be as important, if not more important, than the immediate financial benefits and will allow Clearwire to build on its brand and customer loyalty.…

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They say variety is the spice of life – but does the same hold true for Big Data?

Last week Chicago was one of 29 host cities around the world for Big Data Week, a week-long series of workshops on big data and analytics.  I had the privilege of giving a ten minute “rapid-fire” talk about big data in banking and also attended a number of other workshops.  It was a fun, thought-provoking week full of interesting case studies and great networking between government...

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Phone: 312-602-4000
Email: marketing@westmonroepartners.com
222 W. Adams
Chicago, IL 60606
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