At a recent industry conference, global

Size: px
Start display at page:

Download "At a recent industry conference, global"

Transcription

1 Harnessing Big Data to Improve Customer Service By Marty Tibbitts The goal is to apply analytics methods that move beyond customer satisfaction to nurturing customer loyalty by more deeply understanding the customer s total experience. At a recent industry conference, global payments processor Elavon demonstrated the power of Big Data in the contact center environment. Retaining highvalue customers has always been a top priority for Elavon, which serves more than 1 million merchants in the United States, Europe, Canada and Puerto Rico. When warning signs of potential customer defections appeared, the company was determined to take proactive steps to identify dissatisfied merchants and find ways to help them. Elavon s biggest challenge was figuring out a practical way to do this across its large customer base. Elavon found the answer at its Knoxville contact center where 300 agents handle approximately 10,000 calls a day, all of which are recorded and transcribed. The company used speech analytics software to automatically analyze content in the recorded chain of calls. The application helped Elavon s business review unit determine words and phrases in their call transcripts that hinted that a customer could be on the path to switching to a competitor. Of the 10,000 calls our Knoxville center receives each day, about 2,000 could be construed as being at risk in some way, explains Roman Trebon, Elavon s business review manager, speech analytics, who led a team of four analysts that reviewed the data. By immediately reaching out to those atrisk merchants, the company estimated it saved nearly 600 accounts worth $1.7 million, over a three-month period. The implementation of speech analytics in Elavon s Knoxville call center represents one of the best available cases for Big Data analysis the advanced process of examining large amounts of different data, or Big Data, in an effort to uncover hidden patterns. By harnessing Big Data into a more useful form, its contact center can become proactive rather than reactive in solving customer service problems and finding opportunities to encourage 4 Customer RELATIONSHIP MANAGEMENT SPRING 2013

2 customer loyalty. Recent customer relationship management trends indicate that over the next few years, more contact centers will begin looking at their business intelligence as a meaningful resource to help differentiate their brand in the marketplace. A new generation of tools and technology are now available to extract that meaningful information from Big Data to help retain clients, reduce costs and improve the customer experience. In 2013, spending on business-intelligence software is expected to reach $13.8 billion, up 7 percent from 2012, according to analyst firm Gartner, which projects spending will hit $17.1 billion by The challenge for contact center managers will be keeping their focus on organizational alignment so that team members are well versed on how to use Big Data to accomplish collective goals. Investment in data management tools, like Big Data systems, will enable center personnel to better understand how that information and technology will improve their customer service ef- SPRING 2013 Customer RELATIONSHIP MANAGEMENT 5

3 forts. As a result, the contact center will ensure actionable business intelligence gets to the right person or department at the right time in order to make it usable. Opportunities and Challenges Have you ever wanted to know exactly how customers were using your product and whether they were likely to stay customers? The more you know about your customers over time, the better your chances of keeping them from going to a competitor. Big Data analysis technology is a springboard to solutions that support real-time metrics and leverage predictive analytics to simulate and forecast consumer behavior. Predictive analysis is being used to generate vast amounts of data about customers buying habits, attitudes, preferences and pet peeves. In a practical way, figuring out how to make use of this data could mean all kinds of improvements to the customer support experience. Ultimately, the goal is to apply Big Data analytics methods that move beyond customer satisfaction to nurturing customer loyalty by more deeply understanding the customer s total experience. For example, through Big Data analysis, a company might discover that a certain demographic group of customers prefers shopping online instead of buying products at brick-and-mortar shops, and prefers text messages over s. As a result, a retailer might launch a text message marketing campaign to promote online products and e-commerce options to customers in that demographic group to increase sales. Additionally, knowledge derived from Big Data analytics technology has the potential to save costs, foster ideas for new and improved products, identify cross-sell/up-sell opportunities and determine the effectiveness of marketing campaigns. With more companies leveraging consumer intelligence to stay competitive in the market, there is the danger that they will External auditors and risk professionals should play a key role to address policies related to privacy, security, intellectual property and even liability. become mesmerized by Big Data, which could pose a potential risk. Any time an organization uses Big Data to amass customers private, sensitive information, there is the chance that it could be misused or used ineffectively. External auditors and risk professionals should play a key role in the Big Data process to address policies related to privacy, security, intellectual property and even liability. Making Sense of Big Data It s not just the quantity of data that can offer value, it s also the speed with which all this data is generated, as well as how it is used. When it comes to describing Big Data, much of the technology industry commonly uses the three Vs model volume, velocity and variety to characterize different aspects of the data. 1. Volume refers to the massive amount of data being collected. By some estimates we create 2.5 quintillion bytes of data every day (a quintillion is 1 followed by 18 zeros) so much that 90 percent of the data in the world today has been generated in the last two years. 2. Velocity refers to the frequency of data generation or frequency of data delivery that needs to be analyzed as it comes all in real time. 3. Variety refers to the different types of data such as structured and unstructured data (i.e., images, videos and text from contact center conversations). Before starting a Big Data initiative, contact centers must first determine exactly what they want to achieve by collecting and analyzing data: Are they looking to retain customers? Do they want to predict future trends regarding consumer purchasing patterns? Are they looking to drive maximum sales of products and services? Each objective will influence how data is collected, organized and used. Determining a strategy will help contact centers establish a clear 6 Customer RELATIONSHIP MANAGEMENT SPRING 2013

4 understanding of what data is actually valuable to them. Data quality management is something that s often overlooked when it comes to Big Data analysis. While accessing and analyzing large data sets may be important, it s even more critical that the information being evaluated is based on quality data. For example, it s likely that call agents could enter data in inappropriate fields in a CRM system. Data that is not high quality, or riddled with errors and inconsistencies, diminishes the analysis process, and the value of the contact center s mission, goals and objectives is jeopardized. When managed correctly, data quality minimizes risk. Big Data also requires big leadership. It takes high-level support and call center managers with deep analytical skills to make effective decisions. Contact centers need to employ the right people who know how to apply advanced analytical tools to generate predictive insights into customer activities as a direct result of the data. Five Ways Analytics Create Value Big Data provides an opportunity for business enterprises to find insight in new and emerging types of data that will make operations more responsive. Its usage opens up new avenues for productivity, growth and customer interaction. Here are five broad ways in which Big Data analytics can create value for a contact center: 1. Contact centers can unlock significant value from usable information to greatly improve their customer support value by using Big Data analytics tools. Companies with access to this level of intelligence obtain a greater understanding of customers through behavior and preference, which ultimately drives customer retention and brand loyalty. Determining a strategy will help contact centers establish a clear understanding of what data is actually valuable to them. 2. The valuable data that s mined from contact center logs is of particular interest to chief marketing officers. By leveraging the massive amounts of data extracted from recorded customer transactions, marketing departments can tailor specific marketing campaigns and product offerings to drive additional revenue. Big data analytics gives marketers the capacity to identify, measure and manage the factors that are positively impacting their brand. 3. Big Data analysis can help contact centers achieve costs savings, especially through first contact resolution (FCR). Research has shown that solving customers problems on the first call is linked to lower costs, higher customer satisfaction and other benefits. Big Data analytics enables contact centers to truly measure FCR patterns from all cross channels and data sources at any given moment. 4. Successful cross-selling and up-selling opportunities are available based on what customer intelligence you find through Big Data. The right data analysis technology can help a contact center minimize the level of resources required to identify new products or service upgrades that call agents can offer customers. You ll likely need to involve call agents in the analysis process, which requires providing them with considerably more insight about which specific products customers are most interested in. 5. Identifying why customers are leaving is just one type of data that needs to be analyzed and managed. Data analytics helps contact centers understand the metrics that are impacting customer satisfaction and loyalty, and gives them the opportunity to SPRING 2013 Customer RELATIONSHIP MANAGEMENT 7

5 make the changes necessary to keep customers coming back. A Slow, Steady Shift The move to embrace Big Data solutions won t happen overnight for many contact centers. For years, customer care organizations have struggled to recognize the benefits of transforming the structured and unstructured data they collected from billions of customer interactions each year. Despite their long history of collecting raw consumer data, contact centers are making slow but steady progress toward moving beyond traditional key performance indicator measurements such as average talk time and average speed of answers and implementing Big Data analytics to meet their customer service objectives. The abundance of information gathered from recording calls between agents and customers makes it the most valuable collection of custom intelligence. And yet, call recordings are a prime example of data sources that are often underexploited for business purposes. Although hundreds of millions of calls are recorded in contact centers throughout the year, some experts agree that a small percentage of these recordings are ever played back and listened to by managers. However, over the last year or so, a growing number of customer care executives are having a greater appreciation for how Big Data is being used to revolutionize the way contact centers process information. As a result, the spectrum of analytics tools that vendors are making available to contact centers has grown exponentially. Currently, speech analytics software and technology from companies such as Avaya, CallMiner, Nexidia, NICE Systems, Utopy and Verint Systems offer contact centers a variety of ways to automate the mining of customer transaction information from call recordings and transcripts and turn that content into usable business information. Rather than just periodically listening to a call recording to make sure agents are sticking to the script, The right technology can help minimize the level of resources required to identify new products or service upgrades that agents can offer customers. contact center supervisors can take further steps to leverage that unstructured data. Big Data analysis enables managers to identify conversations where the customer says, never again, or doesn t work or any such keywords that signal their dissatisfaction. Strategic analysis of Big Data extracted from recordings will go far in improving customer retention policies. Telephone call recordings are not the only valuable data source. Customer interactions can take place over a multiple of different channels, including , instant messaging, computer screen recordings and Web forms. The good news is that today there are huge growth opportunities in Big Data analysis, and it is proving to have a very attractive return on investment for contact centers investing in the process. One thing that is certain in this new phenomenon of data-driven technology: It is pushing the bounds of systems used to judge customer sentiments and behaviors. Data analytics is doing a remarkable job of linking disparate data silos to patterns of customer behavior and trends that are predictive. Big Data is motivating leading contact centers to move away from pure cost reduction strategies and invest in analytic tools that effectively improve customer satisfaction and loyalty and provide real-time results. CRM Marty Tibbitts is founder and CEO of CITADEL, a customer-focused contact center that is transforming the way industries outsource their business services. As an accomplished entrepreneur, Tibbitts has more than 20 years of experience managing high-tech businesses. His keen sense of direction has helped establish a number of companies that offer mobile and wireless computing, internet and database/software development, telecommunications and threat-detection services. 8 Customer RELATIONSHIP MANAGEMENT SPRING 2013

NICE MULTI-CHANNEL INTERACTION ANALYTICS

NICE MULTI-CHANNEL INTERACTION ANALYTICS NICE MULTI-CHANNEL INTERACTION ANALYTICS Revealing Customer Intent in Contact Center Communications CUSTOMER INTERACTIONS: The LIVE Voice of the Customer Every day, customer service departments handle

More information

Achieving customer loyalty with customer analytics

Achieving customer loyalty with customer analytics IBM Software Business Analytics Customer Analytics Achieving customer loyalty with customer analytics 2 Achieving customer loyalty with customer analytics Contents 2 Overview 3 Using satisfaction to drive

More information

Taking A Proactive Approach To Loyalty & Retention

Taking A Proactive Approach To Loyalty & Retention THE STATE OF Customer Analytics Taking A Proactive Approach To Loyalty & Retention By Kerry Doyle An Exclusive Research Report UBM TechWeb research conducted an online study of 339 marketing professionals

More information

Maintaining a Competitive Edge with Interaction Analysis

Maintaining a Competitive Edge with Interaction Analysis Explore Maintaining a Competitive Edge with Interaction Analysis Winner of the Frost & Sullivan 2007 Product Innovation Award Autonomy etalk White Paper Maintaining a Competitive Edge with Interaction

More information

Transforming customer service with business analytics

Transforming customer service with business analytics IBM Software Business Analytics Customer Service Transforming customer service with business analytics 2 Transforming customer service with business analytics Contents 2 Overview 2 Customer service is

More information

Data Quality in Retail

Data Quality in Retail SURVEY RESULTS Data Quality in Retail How Data Quality Issues Impact Business Processes and Decisions Across Retail Organizations TRILLIUM SOFTWARE Introduction As consumers share data across multiple

More information

Social Business Analytics

Social Business Analytics IBM Software Business Analytics Social Analytics Social Business Analytics Gaining business value from social media 2 Social Business Analytics Contents 2 Overview 3 Analytics as a competitive advantage

More information

Increasing Marketing ROI with Customer Analytics. 2013 IBM Corporation

Increasing Marketing ROI with Customer Analytics. 2013 IBM Corporation Increasing Marketing ROI with Customer Analytics 1 The agenda The Marketer s Evolving Role Data/Analytics Based Decisions Customer Analytics to Increase ROI ROI in Action 2 The Marketer s Evolving Role:

More information

DEVELOP INSIGHT DRIVEN CUSTOMER EXPERIENCES USING BIG DATA AND ADAVANCED ANALYTICS

DEVELOP INSIGHT DRIVEN CUSTOMER EXPERIENCES USING BIG DATA AND ADAVANCED ANALYTICS DEVELOP INSIGHT DRIVEN CUSTOMER EXPERIENCES USING BIG DATA AND ADAVANCED ANALYTICS by Dave Nash and Mazen Ghalayini; Contributions by Valentin Grasparil This whitepaper is the second in a 3-part series

More information

4How Marketing Leaders Can Take Control of Data for Better

4How Marketing Leaders Can Take Control of Data for Better Steps to Achieve Better Marketing Results 4How Marketing Leaders Can Take Control of Data for Better Marketing Performance and Customer Interactions As a marketing leader, you rely heavily on data to inform

More information

Predicting & Preventing Banking Customer Churn by Unlocking Big Data

Predicting & Preventing Banking Customer Churn by Unlocking Big Data Predicting & Preventing Banking Customer Churn by Unlocking Big Data Making Sense of Big Data http://www.ngdata.com Predicting & Preventing Banking Customer Churn by Unlocking Big Data 1 Predicting & Preventing

More information

5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK

5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK 5 Big Data Use Cases to Understand Your Customer Journey CUSTOMER ANALYTICS EBOOK CUSTOMER JOURNEY Technology is radically transforming the customer journey. Today s customers are more empowered and connected

More information

Predicting & Preventing Banking Customer Churn by Unlocking Big Data

Predicting & Preventing Banking Customer Churn by Unlocking Big Data Predicting & Preventing Banking Customer Churn by Unlocking Big Data Customer Churn: A Key Performance Indicator for Banks In 2012, 50% of customers, globally, either changed their banks or were planning

More information

Table of Contents. Introduction... 3 Post-Call Analytics vs. Real-Time Monitoring... 3. How Real-Time Monitoring Works... 4

Table of Contents. Introduction... 3 Post-Call Analytics vs. Real-Time Monitoring... 3. How Real-Time Monitoring Works... 4 Table of Contents Introduction... 3 Post-Call Analytics vs. Real-Time Monitoring... 3 How Real-Time Monitoring Works... 4 Putting Real-Time Monitoring Into Action... 5 The Impact of Real-Time Monitoring...

More information

Table of Contents. Executive Summary... 3 The Power of Information... 3. How Contact Analytics Works... 4

Table of Contents. Executive Summary... 3 The Power of Information... 3. How Contact Analytics Works... 4 Table of Contents Executive Summary... 3 The Power of Information... 3 How Contact Analytics Works... 4 Case Study Using Speech Analytics to Predict Churn... 6 Improving Customer Satisfaction... 10 Optimizing

More information

4 Ways Retailers Can Beat the Competition. (With Data They Already Have)

4 Ways Retailers Can Beat the Competition. (With Data They Already Have) 4 Ways Retailers Can Beat the Competition (With Data They Already Have) On the surface, the retail data playing field looks fairly level. From big-box retailers like Walmart to small, independent boutiques,

More information

5 tips to engage your customers with event-based marketing

5 tips to engage your customers with event-based marketing IBM Software Thought Leadership White Paper IBM ExperienceOne 5 tips to engage your customers with event-based marketing Take advantage of moments that matter with in-depth insight into customer behavior

More information

DISCOVER MERCHANT PREDICTOR MODEL

DISCOVER MERCHANT PREDICTOR MODEL DISCOVER MERCHANT PREDICTOR MODEL A Proactive Approach to Merchant Retention Welcome to Different. A High-Level View of Merchant Attrition It s a well-known axiom of business that it costs a lot more to

More information

Retail / E-commerce. Turning Big Data (and Little) Into Actionable Intelligence and Customer Profitability. Case Study ebook. Unlocking Profitability.

Retail / E-commerce. Turning Big Data (and Little) Into Actionable Intelligence and Customer Profitability. Case Study ebook. Unlocking Profitability. shop shop shop shop Retail / E-commerce Turning Big Data (and Little) Into Actionable Intelligence and Customer Profitability Part 3 in a series of 5 ebooks on intelligent customer engagement Case Study

More information

CONTACT CENTER 09: Five Steps to a Lean, Customer-Centric Service Organization

CONTACT CENTER 09: Five Steps to a Lean, Customer-Centric Service Organization CONTACT CENTER 09: Five Steps to a Lean, Customer-Centric Service Organization 2009 RightNow Technologies. All rights reserved. RightNow and RightNow logo are trademarks of RightNow Technologies Inc. All

More information

Five steps to improving the customer service experience

Five steps to improving the customer service experience Five steps to improving the customer service experience Metrics, tips, and tools for utilizing customer feedback An Ovum White Paper Sponsored by Publication Date: January 2012 INTRODUCTION As the use

More information

BUY BIG DATA IN RETAIL

BUY BIG DATA IN RETAIL BUY BIG DATA IN RETAIL Table of contents What is Big Data?... How Data Science creates value in Retail... Best practices for Retail. Case studies... 3 7 11 1. Social listening... 2. Cross-selling... 3.

More information

THE STATE OF Social Media Analytics. How Leading Marketers Are Using Social Media Analytics

THE STATE OF Social Media Analytics. How Leading Marketers Are Using Social Media Analytics THE STATE OF Social Media Analytics May 2016 Getting to Know You: How Leading Marketers Are Using Social Media Analytics» Marketers are expanding their use of advanced social media analytics and combining

More information

Engage your customers

Engage your customers Business white paper Engage your customers HP Autonomy s Customer Experience Management market offering Table of contents 3 Introduction 3 The customer experience includes every interaction 3 Leveraging

More information

> Cognizant Analytics for Banking & Financial Services Firms

> Cognizant Analytics for Banking & Financial Services Firms > Cognizant for Banking & Financial Services Firms Actionable insights help banks and financial services firms in digital transformation Challenges facing the industry Economic turmoil, demanding customers,

More information

6/10/2015. Chapter Nine Overview. Learning Outcomes. Opening Case: Twitter: A Social CRM Tool

6/10/2015. Chapter Nine Overview. Learning Outcomes. Opening Case: Twitter: A Social CRM Tool Opening Case: Twitter: A Social CRM Tool McGraw-Hill-Ryerson 2015 The McGraw-Hill Companies, All Rights Reserved Chapter Nine Overview SECTION 9.1 CRM FUNDAMENTALS Introduction Using Information to Drive

More information

Predictive Analytics for Donor Management

Predictive Analytics for Donor Management IBM Software Business Analytics IBM SPSS Predictive Analytics Predictive Analytics for Donor Management Predictive Analytics for Donor Management Contents 2 Overview 3 The challenges of donor management

More information

The big data revolution

The big data revolution The big data revolution Expert report in partnership with Big data, big challenges Big data is changing the world a hundred terabytes at a time. It allows marketers to make highly informed and effective

More information

Multichannel Customer Care

Multichannel Customer Care Multichannel Customer Care The changing landscape in customer communication provides a unique opportunity to combine the assets of our outsource services division (call center and network) with our social

More information

Information-Driven Transformation in Retail with the Enterprise Data Hub Accelerator

Information-Driven Transformation in Retail with the Enterprise Data Hub Accelerator Introduction Enterprise Data Hub Accelerator Retail Sector Use Cases Capabilities Information-Driven Transformation in Retail with the Enterprise Data Hub Accelerator Introduction Enterprise Data Hub Accelerator

More information

ELAVON EXPERIENCES WITH THE ORACLE SALES CLOUD

ELAVON EXPERIENCES WITH THE ORACLE SALES CLOUD RESEARCH NOTE May 2014 ELAVON EXPERIENCES WITH THE ORACLE SALES CLOUD THE BOTTOM LINE The shift in computing towards the cloud and away from being within the four walls of an organization creates an opportunity

More information

Boost Profits with Better Marketing Analytics

Boost Profits with Better Marketing Analytics Boost Profits with Better Marketing Analytics Marketing Solutions for the Utilities Industry Publication Date: July, 2014 www.datamentors.com info@datamentors.com 01. Boost Profits with Better Marketing

More information

Overview, Goals, & Introductions

Overview, Goals, & Introductions Improving the Retail Experience with Predictive Analytics www.spss.com/perspectives Overview, Goals, & Introductions Goal: To present the Retail Business Maturity Model Equip you with a plan of attack

More information

FOSTERING CUSTOMER RETENTION CALLS FOR A FULL 360-DEGREE PERSPECTIVE

FOSTERING CUSTOMER RETENTION CALLS FOR A FULL 360-DEGREE PERSPECTIVE FOSTERING CUSTOMER RETENTION CALLS FOR A FULL 360-DEGREE PERSPECTIVE Satisfying and retaining current customers is three to 10 times cheaper than acquiring new customers, and 65 percent of a typical company

More information

Next Best Action Using SAS

Next Best Action Using SAS WHITE PAPER Next Best Action Using SAS Customer Intelligence Clear the Clutter to Offer the Right Action at the Right Time Table of Contents Executive Summary...1 Why Traditional Direct Marketing Is Not

More information

LEAD NURTURING STRATEGY WHITE PAPER. November 2013

LEAD NURTURING STRATEGY WHITE PAPER. November 2013 LEAD NURTURING STRATEGY WHITE PAPER November 2013 TABLE OF CONTENTS 1. EXECUTIVE SUMMARY 2. INTRODUCTION 3. WHAT IS LEAD NURTURING? 4. OUTLINING AN EFFICIENT LEAD NURTURING STRATEGY 4.1. BUYER PERSONA

More information

THE 10 Ways that Digital Marketing + Big Data =

THE 10 Ways that Digital Marketing + Big Data = 1 Ways that Digital Marketing + Big Data = Sales Productivity The best global companies are transforming the way they market and sell. Here s how! Evolves into Digital TOP 10 about us MarketBridge is a

More information

Sponsored by. Contact Center Analytics Empower Enterprises

Sponsored by. Contact Center Analytics Empower Enterprises Sponsored by Contact Center Analytics Empower Enterprises Table of Contents Executive Summary... 1 The Changing Mission of Contact Centers... 1 Contact Center Goals... 1 Contact Center Analytics... 2 What

More information

Best Practices for Relationship Marketing

Best Practices for Relationship Marketing WebTrends 851 SW 6th Ave., Suite 600 Portland, OR 97204 1.503.294.7025 1.503.294.7130 fax US Toll Free 1-877-WebTrends (1-877-932-8736) WebTrends Sales 1.888.932.8736 sales@webtrends.com Europe, Middle

More information

Maximizing Customer Retention: A Blueprint for Successful Contact Centers

Maximizing Customer Retention: A Blueprint for Successful Contact Centers Maximizing Customer Retention: A Blueprint for Successful Contact Centers Sponsored by Table of Contents Executive Summary...1 Creating Loyal Customers: A Critical Company Goal...1 Causes of Customer Attrition...2

More information

WHITEPAPER. Analytics in CRM. Insights to Action

WHITEPAPER. Analytics in CRM. Insights to Action WHITEPAPER Analytics in CRM Insights to Action CONTENT 1. INTRODUCTION 1.1 Abstract 1.2 Purpose 1.4 Methodology 2. EXPECTATIONS AND CHALLENGES 2.1 Customer expectations 2.2 Customer Insights 2.3 Opportunities

More information

FIS Active Analytics Suite. Delivering Segmentation-driven Digital Marketing, Merchant Offers

FIS Active Analytics Suite. Delivering Segmentation-driven Digital Marketing, Merchant Offers FIS Active Analytics Suite Delivering Segmentation-driven Digital Marketing, Merchant Offers Price Optimization and Risk Management Performance Analysis The FIS Active Analytics Suite helps financial institutions

More information

The Power of Personalizing the Customer Experience

The Power of Personalizing the Customer Experience The Power of Personalizing the Customer Experience Creating a Relevant Customer Experience from Real-Time, Cross-Channel Interaction WHITE PAPER SAS White Paper Table of Contents The Marketplace Today....1

More information

Best Practices Brochure. Best Practices for Optimizing Social CRM Maximizing the Value of Customer Relationships

Best Practices Brochure. Best Practices for Optimizing Social CRM Maximizing the Value of Customer Relationships Best Practices Brochure Best Practices for Optimizing Social CRM Maximizing the Value of Customer Relationships Social CRM Companies must do more than participate in today s social environment. They must

More information

Voice of the Customer: How to Move Beyond Listening to Action Merging Text Analytics with Data Mining and Predictive Analytics

Voice of the Customer: How to Move Beyond Listening to Action Merging Text Analytics with Data Mining and Predictive Analytics WHITEPAPER Voice of the Customer: How to Move Beyond Listening to Action Merging Text Analytics with Data Mining and Predictive Analytics Successful companies today both listen and understand what customers

More information

CRM and KM integration: its time has come

CRM and KM integration: its time has come WHITE PAPER CRM and KM integration: its time has come An integrated look at the functions of CRM and Knowledge Management today s business environment INTRODUCTION Until very recently, customer relationship

More information

Connecting the Dots on the Omnichannel Customer Journey

Connecting the Dots on the Omnichannel Customer Journey A new e-book from TeleTech for sales, marketing, and customer care leaders. Connecting the Dots on the Omnichannel Customer Journey Everybody s talking about omnichannel these days. But what is omnichannel

More information

The Customer Experience:

The Customer Experience: The Customer Experience: The Holy Grail of Competitive Advantage. 1 A great customer experience has emerged as the holy grail of competitive advantage. Providing a great customer experience has emerged

More information

What s Trending in Analytics for the Consumer Packaged Goods Industry?

What s Trending in Analytics for the Consumer Packaged Goods Industry? What s Trending in Analytics for the Consumer Packaged Goods Industry? The 2014 Accenture CPG Analytics European Survey Shows How Executives Are Using Analytics, and Where They Expect to Get the Most Value

More information

A Quick Guide to Social Customer Service: Measure, Refine & Scale

A Quick Guide to Social Customer Service: Measure, Refine & Scale A Quick Guide to Social Customer Service: Measure, Refine & Scale Measuring how well your Social Customer Service program is working for both your customers and your business is not easy. For the last

More information

BIG DATA? BETTER DATA!

BIG DATA? BETTER DATA! Most senior leaders have at least two things in common when they talk about their major strategic goals over the next year to improve operational performance and to gain a 360-degree view of their customers.

More information

Uniphore Software Systems Contact: info@uniphore.com Website: www.uniphore.com 1

Uniphore Software Systems Contact: info@uniphore.com Website: www.uniphore.com 1 Uniphore Software Systems Contact: info@uniphore.com Website: www.uniphore.com 1 Table of Contents Introduction... 3 Problem... 3 Solution... 5 Speech Analytics... 5 Effectiveness of speech analytics...

More information

Deriving Call Data Record Insights through Self Service BI Reporting

Deriving Call Data Record Insights through Self Service BI Reporting Deriving Call Data Record Insights through Self Service BI Reporting The Need for Business Intelligence BI assists corporate managers and decision makers to make relevant, accurate, timely and smart decision

More information

Voice. listen, understand and respond. enherent. wish, choice, or opinion. openly or formally expressed. May 2010. - Merriam Webster. www.enherent.

Voice. listen, understand and respond. enherent. wish, choice, or opinion. openly or formally expressed. May 2010. - Merriam Webster. www.enherent. Voice wish, choice, or opinion openly or formally expressed - Merriam Webster listen, understand and respond May 2010 2010 Corp. All rights reserved. www..com Overwhelming Dialog Consumers are leading

More information

Data-Driven Decisions: Role of Operations Research in Business Analytics

Data-Driven Decisions: Role of Operations Research in Business Analytics Data-Driven Decisions: Role of Operations Research in Business Analytics Dr. Radhika Kulkarni Vice President, Advanced Analytics R&D SAS Institute April 11, 2011 Welcome to the World of Analytics! Lessons

More information

Background and Company Performance... 2. Industry Challenges... 2. Quality of Customer Service and Customer Impact... 3. Conclusion...

Background and Company Performance... 2. Industry Challenges... 2. Quality of Customer Service and Customer Impact... 3. Conclusion... Contents Background and Company Performance... 2 Industry Challenges... 2 Quality of Customer Service and Customer Impact... 3 Conclusion... 5 Significance of Customer Service Leadership... 6 Understanding

More information

2013 Frost & Sullivan Japan Market Leadership Award Workforce Management Market

2013 Frost & Sullivan Japan Market Leadership Award Workforce Management Market 2013 Frost & Sullivan Japan Market Leadership Award Workforce Management Market 2013 Frost & Sullivan Japan Market Share Leadership Award in the Workforce Management Market Overview of Asia Pacific Contact

More information

Measuring the Effectiveness of Your Content Marketing

Measuring the Effectiveness of Your Content Marketing Measuring the Effectiveness of Your Content Marketing 1 Measuring the Effectiveness of Your Content Marketing A 5-Step Process to Prove Value and Grow Your Business Measuring the Effectiveness of Your

More information

BIG DATA I N B A N K I N G

BIG DATA I N B A N K I N G $ BIG DATA IN BANKING Table of contents What is Big Data?... How data science creates value in Banking... Best practices for Banking. Case studies... 3 7 10 1. Fraud detection... 2. Contact center efficiency

More information

Customer effectiveness

Customer effectiveness www.pwc.com/sap Customer effectiveness PwC SAP Consulting Services Advance your ability to win, keep and deepen relationships with your customers. Are your customers satisfied? How do you know? Five leading

More information

ENGAGING CUSTOMERS WITH SOCIAL MEDIA A CLARABRIDGE WHITE PAPER

ENGAGING CUSTOMERS WITH SOCIAL MEDIA A CLARABRIDGE WHITE PAPER ENGAGING CUSTOMERS WITH SOCIAL MEDIA A CLARABRIDGE WHITE PAPER EXECUTIVE SUMMARY For a growing number of consumers, social media is the preferred means of gathering product information and interacting

More information

Retail Analytics: Game Changer for Customer Loyalty

Retail Analytics: Game Changer for Customer Loyalty Cognizant 20-20 Insights Retail Analytics: Game Changer for Customer Loyalty By leveraging analytics tools and models, retailers can boost customer loyalty by creating a personalized shopping experience

More information

Beyond listening Driving better decisions with business intelligence from social sources

Beyond listening Driving better decisions with business intelligence from social sources Beyond listening Driving better decisions with business intelligence from social sources From insight to action with IBM Social Media Analytics State of the Union Opinions prevail on the Internet Social

More information

Big Data Management and Predictive Analytics as-a-service for the Retail Industry

Big Data Management and Predictive Analytics as-a-service for the Retail Industry Big Data Management and Predictive Analytics as-a-service for the Retail Industry Serendio Predictive Analytics for the Retail Industry 2 Executive Summary The biggest and most successful retailers today,

More information

Leverage Insights. Ignite Brand Engagement.

Leverage Insights. Ignite Brand Engagement. Leverage Insights. Ignite Brand Engagement. Connect with Your Customers through Individualized Insights from the Teradata Integrated Marketing Cloud. We power marketing. 86% of Customers Say Relevant Offers

More information

Reaping the Rewards of Big Data

Reaping the Rewards of Big Data Reaping the Rewards of Big Data TABLE OF CONTENTS INTRODUCTION: 2 TABLE OF CONTENTS FINDING #1: BIG DATA PLATFORMS ARE ESSENTIAL FOR A MAJORITY OF ORGANIZATIONS TO MANAGE FUTURE BIG DATA CHALLENGES. 4

More information

ANALYTICS: SHAPING THE RIGHT CUSTOMER EXPERIENCE

ANALYTICS: SHAPING THE RIGHT CUSTOMER EXPERIENCE EMV Technology: Deploying Soon in the U.S. ANALYTICS: SHAPING THE RIGHT CUSTOMER EXPERIENCE 2010 Mercator Advisory Group, Inc. Clock Tower Place, Suite 420 Maynard, MA 01754 phone: 1(781) 419-1700 e-mail:

More information

WHITE PAPER. SPEECH ANALYTICS for Predicting Customer Churn. Uniphore Software Systems Contact: info@uniphore.com Website: www.uniphore.

WHITE PAPER. SPEECH ANALYTICS for Predicting Customer Churn. Uniphore Software Systems Contact: info@uniphore.com Website: www.uniphore. WHITE PAPER SPEECH ANALYTICS for Predicting Customer Churn Uniphore Software Systems Contact: info@uniphore.com Website: www.uniphore.com 1 Table of Contents Introduction... 3 Problems... 3 Solution...

More information

TABLE OF CONTENTS. Introduction: 3. Finding #1: Organizations are currently using a wide variety of contact channels to interact with customers 5

TABLE OF CONTENTS. Introduction: 3. Finding #1: Organizations are currently using a wide variety of contact channels to interact with customers 5 TABLE OF CONTENTS Introduction: 3 Finding #1: Organizations are currently using a wide variety of contact channels to interact with customers 5 Finding #2: Most organizations do not believe their current

More information

Banking On A Customer-Centric Approach To Data

Banking On A Customer-Centric Approach To Data Banking On A Customer-Centric Approach To Data Putting Content into Context to Enhance Customer Lifetime Value No matter which company they interact with, consumers today have far greater expectations

More information

Customer Engagement. The Rules Are Changing, But Customers Are Still In Charge

Customer Engagement. The Rules Are Changing, But Customers Are Still In Charge Customer Engagement The Rules Are Changing, But Customers Are Still In Charge WHITE PAPER Marketing Alternatives, Inc. 2550 Northwest Parkway Elgin, IL 60124 www.mktalt.com INTRODUCTION Goodbye customer

More information

CRM. Best Practice Webinar. Next generation CRM for enhanced customer journeys: from leads to loyalty

CRM. Best Practice Webinar. Next generation CRM for enhanced customer journeys: from leads to loyalty CRM Best Practice Webinar Next generation CRM for enhanced customer journeys: from leads to loyalty Featured guest speaker Leslie Ament SVP Research and Principal Analyst at Hypatia Research Group and

More information

LEVERAGING DATA ANALYTICS TO ACQUIRE AND RETAIN LIFE INSURANCE CUSTOMERS

LEVERAGING DATA ANALYTICS TO ACQUIRE AND RETAIN LIFE INSURANCE CUSTOMERS Tactful Management Research Journal ISSN: 2319-7943 Impact Factor : 2.1632(UIF) LEVERAGING DATA ANALYTICS TO ACQUIRE AND RETAIN LIFE INSURANCE CUSTOMERS Ms. Archana V. Rao Assistant Professor, Model College

More information

Better Data. Smarter Decisions. Learn to Maximize Growth with Marketing Data. Greater Revenue.

Better Data. Smarter Decisions. Learn to Maximize Growth with Marketing Data. Greater Revenue. Better Data. Smarter Decisions. Learn to Maximize Growth with Marketing Data Greater Revenue. DataMentors, LLC March 2014 1 Better Data. Smarter Decisions. Greater Revenue. Better Data. Smarter Decisions.

More information

A Strategic Approach to Customer Engagement Optimization. A Verint Systems White Paper

A Strategic Approach to Customer Engagement Optimization. A Verint Systems White Paper A Strategic Approach to Customer Engagement Optimization A Verint Systems White Paper Table of Contents Introduction... 1 What is customer engagement?... 2 Why is customer engagement critical for business

More information

Marketing Solutions Built with People in Mind

Marketing Solutions Built with People in Mind Marketing Solutions Built with People in Mind Tailored emails, web recommendations and data-driven digital advertising designed to engage new prospects and excite customers. MAGNETIC MISSION To understand

More information

Cloud Analytics Where CFOs, CMOs and CIOs Need to Move To

Cloud Analytics Where CFOs, CMOs and CIOs Need to Move To Cloud Analytics Where CFOs, CMOs and CIOs Need to Move To IN PARTNERSHIP WITH Analytics and the Speed Advantage Introduction Three recent workplace trends the growth of the mobile revolution, the emergence

More information

Elevate Customer Experience and Engagement in the New Digital World

Elevate Customer Experience and Engagement in the New Digital World Elevate Customer Experience and Engagement in the New Digital World John Chan CRM Solutions Lead, Microsoft Business Solutions Microsoft Asia Customer buying behavior has fundamentally changed therefore,

More information

Discover How a 360-Degree View of the Customer Boosts Productivity and Profits. eguide

Discover How a 360-Degree View of the Customer Boosts Productivity and Profits. eguide Discover How a 360-Degree View of the Customer Boosts Productivity and Profits eguide eguide Discover How a 360-Degree View of the Customer Boosts Productivity and Profits A guide on the benefits of using

More information

Accenture Business Intelligence for Fashion and Luxury. Creating a Differentiated Customer Experience for Long-term Brand Loyalty

Accenture Business Intelligence for Fashion and Luxury. Creating a Differentiated Customer Experience for Long-term Brand Loyalty Accenture Business Intelligence for Fashion and Luxury Creating a Differentiated Customer Experience for Long-term Brand Loyalty Fashion is inherently an ever-changing industry. Customer preferences fluctuate

More information

DATA-ENHANCED CUSTOMER EXPERIENCE

DATA-ENHANCED CUSTOMER EXPERIENCE DATA-ENHANCED CUSTOMER EXPERIENCE Using big data analytics to gather essential insight into user behaviors ACTIONABLE INTELLIGENCE Ericsson is driving the development of actionable intelligence within

More information

The new driving force of data-driven marketing

The new driving force of data-driven marketing Oracle Data Cloud @OracleDataCloud The new driving force of data-driven marketing Oracle Data Cloud delivers the richest understanding of consumers across both digital and traditional channels based on

More information

Chapter 5: Customer Relationship Management. Introduction

Chapter 5: Customer Relationship Management. Introduction Chapter 5: Customer Relationship Management Introduction Customer Relationship Management involves managing all aspects of a customer s relationship with an organization to increase customer loyalty and

More information

The Rising Opportunity for CMO-CIO Collaboration in the Pharmaceutical Industry

The Rising Opportunity for CMO-CIO Collaboration in the Pharmaceutical Industry Accenture Life Sciences Rethink Reshape Restructure for better patient outcomes The Rising Opportunity for CMO-CIO Collaboration in the Pharmaceutical Industry Demographics Life Sciences Pharma/Biotech:

More information

SUSTAINING COMPETITIVE DIFFERENTIATION

SUSTAINING COMPETITIVE DIFFERENTIATION SUSTAINING COMPETITIVE DIFFERENTIATION Maintaining a competitive edge in customer experience requires proactive vigilance and the ability to take quick, effective, and unified action E M C P e r s pec

More information

THE CONTACT CENTER S CONTRIBUTION TO CEM LEVERAGE DATA TO BREAK DOWN THE BARRIERS TO CUSTOMER-CENTRIC CHANGE.

THE CONTACT CENTER S CONTRIBUTION TO CEM LEVERAGE DATA TO BREAK DOWN THE BARRIERS TO CUSTOMER-CENTRIC CHANGE. feature / june 2014 THE CONTACT CENTER S CONTRIBUTION TO CEM LEVERAGE DATA TO BREAK DOWN THE BARRIERS TO CUSTOMER-CENTRIC CHANGE. By Susan Hash, Contact Center Pipeline Pipeline Articles www.contactcenterpipeline.com

More information

The Evolution of Enterprise Social Intelligence

The Evolution of Enterprise Social Intelligence The Evolution of Enterprise Social Intelligence Why organizations must move beyond today s social media monitoring and social analytics to Social Intelligence- where social media data becomes actionable

More information

IBM Global Business Services Microsoft Dynamics CRM solutions from IBM

IBM Global Business Services Microsoft Dynamics CRM solutions from IBM IBM Global Business Services Microsoft Dynamics CRM solutions from IBM Power your productivity 2 Microsoft Dynamics CRM solutions from IBM Highlights Win more deals by spending more time on selling and

More information

Minimize customer churn with analytics

Minimize customer churn with analytics IBM Software Business Analytics Telecommunications Minimize customer churn with analytics Understand who s likely to churn and take action with IBM software 2 Minimize customer churn with analytics Contents

More information

Three Tips for Measuring Voice in the Sea of Big Data. Tom Goodmanson President and CEO, Calabrio Inc.

Three Tips for Measuring Voice in the Sea of Big Data. Tom Goodmanson President and CEO, Calabrio Inc. Three Tips for Measuring Voice in the Sea of Big Data Tom Goodmanson President and CEO, Calabrio Inc. Introduction Measuring Voice in the Sea of Big Data Enterprises Turn to the Contact Center to Understand

More information

The Definitive Guide to Social CRM

The Definitive Guide to Social CRM The Definitive Guide to Social CRM Maximizing Customer Relationships with Social Media to Gain Market Insights, Customers, and Profit Barton J. Goldenberg Chapter 1 Understanding the Intersection of CRM,

More information

Customer Analytics: A Powerful Source of Competitive Advantage for Midsize Organizations

Customer Analytics: A Powerful Source of Competitive Advantage for Midsize Organizations Issue 2 Customer Analytics: A Powerful Source of Competitive Advantage for Midsize Organizations 1 Introduction 2 Finding the Value in Customer Data 4 From the Gartner Files: A Customer Service Analytics

More information

US ONSHORING OFFERS SUPERIOR EFFECTIVENESS OVER OFFSHORE FOR CRM IMPLEMENTATIONS

US ONSHORING OFFERS SUPERIOR EFFECTIVENESS OVER OFFSHORE FOR CRM IMPLEMENTATIONS US ONSHORING OFFERS SUPERIOR EFFECTIVENESS OVER OFFSHORE FOR CRM IMPLEMENTATIONS Whitepaper Eagle Creek Software Services March 2015 Introduction CRM services are shifting from a focus on point solution

More information

The heart of your business*

The heart of your business* Advisory services Technology The heart of your business* Advance your ability to win, keep and deepen relationships with your customers Customer Effectiveness *connectedthinking Are your customers satisfied?

More information

CUSTOMER ENGAGEMENT 2014. Rosetta Consulting s Customer Engagement Survey Part 1: The Marketer s Perspective

CUSTOMER ENGAGEMENT 2014. Rosetta Consulting s Customer Engagement Survey Part 1: The Marketer s Perspective CUSTOMER ENGAGEMENT 2014 Rosetta Consulting s Customer Engagement Survey Part 1: The Marketer s Perspective WELCOME TO THE EMPOWERED AGE Welcome to the first in a series of three white papers on Customer

More information

The Big Deal about Big Data. Mike Skinner, CPA CISA CITP HORNE LLP

The Big Deal about Big Data. Mike Skinner, CPA CISA CITP HORNE LLP The Big Deal about Big Data Mike Skinner, CPA CISA CITP HORNE LLP Mike Skinner, CPA CISA CITP Senior Manager, IT Assurance & Risk Services HORNE LLP Focus areas: IT security & risk assessment IT governance,

More information

Leveraging Existing Business Data to Build Effective and Lucrative Omnichannel Retail Experiences

Leveraging Existing Business Data to Build Effective and Lucrative Omnichannel Retail Experiences Most retailers have seen the need to create omnichannel customer experiences. Leveraging Existing Business Data to Build Effective and Lucrative Omnichannel Retail Experiences TECHBLOCKS WHITEPAPER Leveraging

More information