Voice. listen, understand and respond. enherent. wish, choice, or opinion. openly or formally expressed. May Merriam Webster.

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1 Voice wish, choice, or opinion openly or formally expressed - Merriam Webster listen, understand and respond May Corp. All rights reserved.

2 Overwhelming Dialog Consumers are leading a massive global conversation about products, services and companies. Today, there are approximately 75 to 100 million blogs and 10 to 20 million Internet discussion boards and forums in the English language alone. - PricewaterhouseCoopers Unstructured data doubles every 3 months. - Gartner Group 2010 Corp. All rights reserved 1

3 One Small Example Home Page (news and blog): 675+ comments on MJ stories Forum Topics: 36,000+ Forum Posts: 555,000+ posts 2010 Corp. All rights reserved 2

4 An Example Customer Need We are looking for a software/tool to help us analyze feedback we received from our customer via online surveys and forms. We're hoping to extract key insights from our customers that would help us better improve our products and/or the delivery of our services and solutions based on the feedback they provide. - Major Electronics Company 2010 Corp. All rights reserved 3

5 Voice of the Customer (VoC) Defined The Voice of the Customer is a process used to capture customer requirements and feedback in order to provide best in class products and services This process is proactive and constantly innovative in an attempt to capture the changing requirements of customers over time The voice of the customer is expressed in different forms through different channels An effective VoC initiative is data driven with clear goals and expectations 2010 Corp. All rights reserved 4

6 VOC Business Outcomes Typical VOC Business Outcomes Increase sales to existing customers Improve new customer acquisition Lower cost of sales and marketing Improve marketing effectiveness Higher customer retention and lower churn Fewer issues reported and/or service complaints Higher satisfaction ratings Increased profitability Maintain or increase competitive edge Manage reputation risk Better and faster innovation 2010 Corp. All rights reserved 5

7 A Holistic Approach to VOC Businesses have faced the obstacle that the majority of relevant information is found in text, outside an organizations databases Text provides far more insight than transactional information Feedback Surveys s Interviews Call Center Transcripts Call notes Service requests Complaints IM logs Internal Information Warranty Claims Warranty notes Customer comments Structured Data Call Center Database Warranty Database HR Database Other Blogs Forum postings Social media News and articles Online reviews Internet Dialog 2010 Corp. All rights reserved 6

8 VoC Related Use Cases Industry Use Case Business Objective Solution Methods Insurance Employee Satisfaction Accelerate the employee survey review process and enable more surveys annually Analyze employee verbatims and categorize employee sentiment Pharmaceutical Market Analysis Improve marketing effectiveness by targeting key opinion leaders Identify key opinion leaders by analyzing Internet news articles and Blogs High Tech Call Center Optimization Increase Call Center productivity by enhancing the knowledge available to Call Center Representatives Analyze call center records and capture product issues by category. Develop a knowledge repository to expedite issue resolution Healthcare Product Innovation Identify new value added service ideas Analyze customer surveys and categorize idea related responses Consumer Electronics Quality and Safety Reduce the number and cost of product recalls Analyze warranty repair notes to proactively manage emerging issues Telecommunications Customer acquisition, growth and retention Retain loyal customers by identifying new programs Analyze customer data from multiple channels including text Financial Services Customer acquisition, growth and retention Retain customers by establishing proactive programs Analyze customer sentiment, requests and issues in , web forms and service notes 2010 Corp. All rights reserved 7

9 Business Benefits Derived from VoC Innovation: analyze customer surveys, , call center notes, Internet Dialog, etc. to generate new product and enhancement ideas Accelerate new product introductions Establish and maintain competitive advantage Reputation management: analyze Internet dialog to assess brand impact Proactively manage Brand risk Identify areas where damage control is required Market analysis: analyze data from all customer channels to improve marketing effectiveness Assess the impact of new product introductions and refine messaging early in the product launch Assess the effectiveness of marketing campaigns Evaluate offering strategies for market segments 2010 Corp. All rights reserved 8

10 Business Benefits Derived from VoC Customer acquisition, growth and retention: analyze call center notes to identify product issues and capture their resolution Improve customer responsiveness and service levels Improve customer satisfaction Call center optimization: Automate the process of receiving, interpreting, sorting, routing, and responding to all incoming s. Reduce cost, improve response time, and increase productivity Quality and Safety: analyze customer and repair notes to get early warning on quality and safety issues Eliminate expensive recalls Reduce cost of recalls with early detection 2010 Corp. All rights reserved 9

11 Platform Versus Application A platform approach views VoC initiatives holistically. The right platform is deployed and each application is delivered via the platform An application approach looks for the best solution for each use case Platform Feedback Surveys s Interviews Call Center Transcripts Call notes Service requests Complaints IM logs Internal Information Warranty Claims Warranty notes Customer comments Structured Data Call Center Database Warranty Database HR Database Other Blogs Forum postings Social media News and articles Online reviews Internet Dialog Applications: Survey analysis analysis Call center notes analysis Warranty claims analysis Social media analysis etc Corp. All rights reserved 10

12 Polaris TM - A Business Analytics Map Business Outcomes The drivers of analytic applications Analytic Applications Portfolio The combination of analytical methods to deliver specific business outcomes Reporting and Analysis Visual Analytics Methods for analyzing results Business Rules Statistical Analysis Text Analytics Predictive Models Methods for forward looking analysis Knowledge Management Data Mining Text Mining Methods for extracting insight Domain Experts Structured Data Unstructured Data Analytic sources 2010 Corp. All rights reserved 11

13 Define Application Portfolio Advertising Analysis Market Analysis Customer Acquisition & Retention Voice of the Customer Call Center Optimization Reputation Management VOC can be a comprehensive application by itself, or specific applications aimed at desired outcomes Traditional application areas align with functional areas: - Sales - Marketing Marketing Effectiveness Innovation - Call Center - Advertising - Public Relations - Product Development 2010 Corp. All rights reserved 12

14 Example of an Application Improve New Customer Acquisition Customer Acquisition and Retention Reporting and Analysis Data Mining Structured Data Text Analytics Visual Analytics Predictive Models Text Mining Unstructured Data The analytical methods identified in the map are combined to deliver the required business outcome Structured and unstructured data are the source of insight Text and data mining extract insight about buying behavior from historical data Text analytics and predictive models look forward to assess who is likely to buy Reporting and analysis along with visual displays of insight enable the review and understanding of insight 2010 Corp. All rights reserved 13

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