Understanding your customer is becoming more and more a reality given the massive amount of data available through social media, customer interactions, sensory captures, e-commerce, CRMs, demographics and so much more. This information often referred to as “Big Data” can now be analyzed almost real time - thanks to the cutting-edge computing power available with organizations.
In an ever changing and dynamic customer service industry, it's imperative to get a 360-degree view of your customers, understanding your customer and business to achieve excellence in customer experience and operations.
“Some of the most innovative and significant customer experiences are driven by different types of customer analysis,” said Gareth Herschel, research director at Gartner. Analytics, beyond doubt has been embraced by one & all and a combined study of the number of data points and historical patterns has enabled organizations to build differentiated service models. Contact Centers on the other hand are working towards providing differentiated customer service and experience to their end customers, with advanced analytics and profiling. There are thousands of such case studies where analytics has helped organizations to alter their strategy and helped them offer customized customer offerings.
One of the focus areas of Customer Experience Management in BPM space is Interaction and Social Media Analytics. With billions of customer interactions and data available through multiple channels, organizations need to understand each customer touch point to arrive at a 360-degree view of their customers.
TP recognized by NelsonHall as a leader in Customer Management Service Analytics. Over the last few years, TP Knowledge Service has succeeded in building pioneering customer analytics solutions and offerings that are changing the way how we provide differentiated services to our customers. Understanding your customer is imperative.
A couple of examples:
Predictive Analytics: For one of the global hospitality companies, we built a recommendation engine based on customer behaviors and buying patterns. The engine creates a dynamic catalogue of existing hotels with suggestions for alternate properties if the requested hotel is sold out. The tool also builds a real-time demand and conversion forecast by region. This has enabled the customer services advisors to offer effective responses in case the requested property is expensive or sold out. This has led to a significant improvement in customer experience and sale volumes.
Interaction Analytics: TP has also developed an in-house text analytics tool – 'TP Prompto' which uses Machine Learning and Natural Language Processing to analyze the text in any form - Complaints, Customer Verbatim, e-mails, webchat, text for social media etc. Our Interaction Analytics suite (TP Interact) also uses Speech Analytics aided with analytics and CxM capabilities, to uncover hidden insights from thousands of customer interactions.
Differentiated service is about making a company easier to do business with, anticipating the needs of your customers and understanding your custoemr, providing customized solutions or offerings suiting individual needs. Customers still expect that same human touch and it's important to see how organizations embrace analytics to offer such differentiated services economically and effectively.
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