CUSTOMER EXPERIENCE CX
Some CX leaders have embraced the opportunity and started leveraging the available data.
Although the specifics may differ depending on the company and industry, this approach typically revolves around a predictive customer-experience platform that includes three crucial elements:
Customer-level data lake
Do implement this approach, the first step is to gather customer, financial, and operational data, both in aggregate and at the individual customer level.
This data is then processed and stored in a cloud-based platform, allowing for a comprehensive, connected, and dynamic view of customer behavior across all interactions, transactions, and operations.
Unlike surveys, which capture only a subset of customers' views at a single point in time, these rich data sets encompass the entire customer base and their journey, allowing for a deeper understanding of the root causes of performance.
This data lake serves as the foundation for developing a rigorous understanding of customer experiences. The platform should be reliable and consistent throughout the organization, with clear mapping across all data sources and unique identifiers for customers, product lines, and other critical business inputs.
This data is then processed and stored in a cloud-based platform, allowing for a comprehensive, connected, and dynamic view of customer behavior across all interactions, transactions, and operations.
Unlike surveys, which capture only a subset of customers' views at a single point in time, these rich data sets encompass the entire customer base and their journey, allowing for a deeper understanding of the root causes of performance.
This data lake serves as the foundation for developing a rigorous understanding of customer experiences. The platform should be reliable and consistent throughout the organization, with clear mapping across all data sources and unique identifiers for customers, product lines, and other critical business inputs.
Predictive customer scores
Using machine-learning algorithms, the company is able to develop analytics that provide insights into the factors that influence customer satisfaction and business performance.
These algorithms can detect specific events that occur during a customer's journey and generate predictive scores for each customer based on those journey features.
These scores enable the company to predict individual customer satisfaction and value outcomes such as revenue, loyalty, and cost to serve. This approach also allows CX leaders to measure the ROI for specific CX investments and link CX initiatives to business outcomes.
These algorithms can detect specific events that occur during a customer's journey and generate predictive scores for each customer based on those journey features.
These scores enable the company to predict individual customer satisfaction and value outcomes such as revenue, loyalty, and cost to serve. This approach also allows CX leaders to measure the ROI for specific CX investments and link CX initiatives to business outcomes.
Action and insight engine
To ensure that the insights and recommendations derived from the predictive platform are acted upon, they are shared widely with employees across the organization, including frontline agents.
This is achieved through an application-programming-interface (API) layer that integrates with various tools, such as customer-relationship-management platforms.
Through this layer, agents can receive notifications and alerts on the specific actions they should take to personalize customer experiences and improve CX outcomes.
The API layer also acts as a single source of truth, powering recommendation engines that leverage both the data lake and customer scores. What's more, the predictive platform delivers timely insights that enable swift action by employees and through digital interfaces, unlike survey-based systems.
This is achieved through an application-programming-interface (API) layer that integrates with various tools, such as customer-relationship-management platforms.
Through this layer, agents can receive notifications and alerts on the specific actions they should take to personalize customer experiences and improve CX outcomes.
The API layer also acts as a single source of truth, powering recommendation engines that leverage both the data lake and customer scores. What's more, the predictive platform delivers timely insights that enable swift action by employees and through digital interfaces, unlike survey-based systems.
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