Which of the following best describes 'Competency' in the context of XM?

In the context of Experience Management (XM), "Competency" refers to the specific skills and actions that are necessary to effectively implement and leverage XM as a discipline. This includes understanding how to gather and analyze customer feedback, as well as how to design and implement strategies that enhance customer experiences, employee engagement, and overall organizational performance.

Focusing on skills means that individuals within an organization must not only possess theoretical knowledge but also practical abilities to enact change based on insights gained from data. The competencies in XM encompass a diverse range of practices, including data analysis, emotional intelligence, and strategic planning, making it a holistic area of expertise that goes beyond simply being aware of market trends or having formal education. Thus, the correct answer aligns with the understanding that XM requires a broad skill set and proactive measures to drive meaningful experiences for all stakeholders involved.