Multiexperience Enablers Part 1: Predictive Analytics
Instead of focusing on channel integration, CX organizations should bring together the necessary experience enablers at every point of the customer journey and simply do the right thing for the customers at every step. In this way, organizations can achieve channel-independent customer journeys that allow the delivery of valuable multiexperiences to their customers.
But how do you know which is the right thing for a specific person at a particular moment? How is it possible to orchestrate the experience?
The answer is predictive analytics.
Predictive analytics uses historical data to determine key trends, predict future outcomes and suggest the next best actions that will lead to desired results. Regardless of whether we are talking about achieving superb customer experience, sales success or another business objective, predictive analytics uses reverse engineering to determine behavioural patterns for both the customer and the company, which will bring about a certain outcome.
As illustrated below, a predictive analytics module gathers information from different source systems, then uses statistical algorithms, as well as different data engineering and machine learning techniques to process the received data and make relevant conclusions.
Predictive analytics results in an understanding of the specific wants and needs of an individual person at a particular moment in their customer journey and a proposal for the next best action that a business can take in respect of that information.
We can say that, without predictive analytics, companies are practically blind in their actions; the technology provides clear directions as to where to focus efforts and which enablers need to be brought together to ensure desired experiences.
Predictive analytics significantly improves traditional segmentation approaches and brings us into a position where every individual represents a segment comprising themselves – the so called ‘Segment-of-One’. This individual approach optimises customer experience and improves loyalty. Consequently, the probability of a company achieving its business objectives significantly increases with every individual.
However, predictive analytics is not magic. Its success depends on the quality of available data and a company’s ability to react based on its deductions. Therefore, partnering with a technology specialist in this field can make a huge difference. Avaya solutions are instrumental in enabling predictive analytics to reach their full potential. Avaya can provide critical information to predictive analytics systems that include customer behaviours such as what touchpoints they use, how they move between touchpoints, what services they leverage and more.
Particularly important is data source communication between customers and contact centre agents. These conversations contain detailed insights into the public perception of a company’s products, services and procedures, sales and churn related behaviours, the reasons behind customers’ complaints and compliments - and much more.
However, even the highest quality data, with related conclusions and deductions, means little without the ability to base an effectively reaction on them. Here, Avaya has a critical role in enabling companies to engage with customers based on predictive analytics orchestration - via proactive outreach, dynamic self-service and intelligent inbound contact handling.
By combining predictive analytics and Avaya OneCloud CCaaS solutions, we can achieve amazing things, for example:
- Personalised and relevant self-service options across touchpoints
- Proactive engagement in sales, retention and acquisition
- Targeted advertising
- Delivering customer contact to the right person within an organisation
- Proposal of next best action or offer via preferred media
- Proactive problem resolution, advice, updates, information and offers
- Proactive churn prevention
In just a few years, customer experience will not depend on a platform’s features but on a platform’s ability to collect data, process it and formulate reactions based on it. Predictive analytics, combined with Avaya solutions, enables organizations to proactively direct customers towards desired journeys. In this way, companies can reduce customer effort, avoid poor experiences and simultaneously maximise sales, increase retention and improve acquisition.
The key achievement, however, comes when customers realise that they are not being treated as revenue-generating objects, and instead feel appreciated by the company with every interaction.