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Anticipating Customer Intent Better with Predictive Analytics - Sestek - ContactCenterWorld.com Blog

Anticipating Customer Intent Better with Predictive Analytics

How likely am I to cancel my bank account if I decrease the number of my routine transactions? Or what if I pronounced “I don’t like this” or “your competitor X does it the other way” to an agent during a call center conversation? Compared to an average customer, probably I would pose a higher risk of leaving this company. Maybe if the agent had the prior knowledge of me being risky, he/she would present a special promotion to me during the conversation and prevent this possible churn.

Considering that gaining a new customer requires much more effort and resource than keeping an existing customer, why take the risk of churn if there is a possibility to be alarmed before it happens?

Analyzing Customer Behavior

Collecting and analyzing past customer behavior is a need for sure. From small entities to large corporates, many organizations use these data to improve their services and enhance customer experience. However, it is not enough for today’s interaction dynamics. Companies have to be informed not only about the customer’s past actions but also about the customer’s possible behavior soon. It wouldn’t be wrong to say that being informed about the customers’ past actions is something; however, using this information to predict customers’ future behavior is a game-changer.

How Predictive Analytics Helps?

According to Markets and Markets, the Predictive Analytics market size is expected to grow from USD 4.5 Billion in 2017 to USD 12.4 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 22%. The main reason for this expected growth is being associated with the increase of the companies’ interests for forecasting future.

Predictive Analytics plays a critical role in predicting customer actions before they occur. It uses historical data to identify possible future behavior with the help of statistical algorithms and innovative machine learning techniques. For instance, historical data of customers that canceled their membership in the past would be a prior ingredient to train reference models for the “churn prediction” case. These models, which are trained for different scenario cases, can be used to make comparisons with the newcomer data.  Thus, it would be possible to see if customers matching with these patterns and to flag the interactions accordingly.

Predictive Analytics can also be used to detect fraudulent behavior before any serious damage is inflected. Companies can notice unusual activities in time that may cause incidents ranging from credit card fraud to fake identity calls.

Sestek Predictive Analytics

Besides typical historical data such as transaction data, demographic data, etc. the call center conversations also give valuable information about behavioral patterns. As an AI-based analytics company working on speech analytics, Sestek can create extensive prediction scenarios.

Sestek’s Speech Analytics solution currently analyzes acoustical and textual information of 1 out of 4 contact center calls in Turkey, which makes the case easier to expand this knowledge to get further insights about future customer intent.  Sestek records, transcribes, and analyses the calls between the customers and the call center agents by its own tools and combines these outcomes -like the speaker’s emotional behavior and tone- with further customer data to build reference prediction models for Sestek Predictive Analytics solution. These prediction models are trained for specific cases according to the organization needs. So far, our studies showed that Predictive Analytics can be beneficial for churn, fraud, and collection scenarios. It can be used to provide real-time agent guidance, next-best-action recommendations, or optimal marketing/sales offers for the benefit of both the customers and the organizations. Each new data bolsters up the machine learning algorithms and becomes more and more reliable compared to the instincts of agents.

Sestek Predictive Analytics is an ongoing project that has been financially funded by The Scientific and Technical Research Council of Turkey (TUBITAK). We “predict” that this new member of our analytics family will complement our solutions suite and present more comprehensive insights and actionable results for our customers.

Author: Tuba Arslan Kır, Sestek R&D Coordination Team Leader

Source: https://www.sestek.com/2019/10/anticipating-customer-intent-better-with-predictive-analytics/

Publish Date: October 31, 2019 5:00 AM

 1

2021 Buyers Guide Help Desk Software

 
1.) 
eGain Corporation

eGain CallTrack™
eGain CallTrack™ is a dynamic call tracking and case management solution that helps companies provide quick, high-quality, and cost-efficient resolution of customer issues across traditional and emerging interaction channels. It is one of the many innovative customer interaction products in eGain Solve™ suite, the unified customer engagement and knowledge management software suite, which helps businesses transform their traditional call centers into omnichannel customer engagement hubs. eGain CallTrack will enable you to track, manage and resolve cases and maintain service level agreements (SLA), across channels.

2.) 
Happitu

Happitu is your customer support team’s personal coach. It guides your team through every interaction with custom workflows, responsive scripting, and dynamic help topics.

Documentation in Happitu is automated, detailed, and consistent. Go beyond handle times and service levels with the rich insights of Happitu – from granular interaction data to aggregate data and trends – you get the complete CX journey!

We intentionally built the Happitu Workflow Designer with your customer support team in mind. Using our intuitive tools that provide quick and safe iteration, you eliminate the need to involve IT or Development. Yes, you will no longer have to dread submitting a change request to Devin from IT!

Try it free for 45 days!

3.) 
Knowmax

Knowmax
Knowmax is an omnichannel knowledge management platform. Our mission is to transform contact centers into resolution centers and drive customer self service.
The platform is an industry-agnostic enterprise-grade knowledge platform with components helping in easy findability of actionable information at the right time across the desired touchpoint.

4.) 
Nuxiba Technologies

CenterWare
Nuxiba's Help Desk Software is ideal for delivering top-level contact help desk services. It not only tailors to your existing technology resources but also allows you to set staff priorities that forward clients to the most knowledgeable agents.

Give personalized assistance, and analyze performance with our real-time monitoring, recording, and reports. Integrate Salesforce or VTiger CRM systems, be TCPA compliant, protect your cardholder's data during calls, and more!

Request a quote or demo today and start the journey to increase your first-contact resolution percentages in less than three months!

5.) 
OneDesk

OneDesk's software combines Helpdesk & Project Management into one application. No need to purchase, integrate and switch between applications. Your team can support your customers and work on projects in one place. Aimed at SMBs as well as departments at large enterprises, OneDesk is frequently used by project managers, customer service, IT, professional services and more. This easy-to-use, feature-rich, and highly configurable software can manage both ticket & task workflows.

6.) 
Teckinfo Solutions Pvt. Ltd.

ActivDesk Help Desk Software
ActivDesk Help Desk Software is an intelligent ticketing software for multi- channel customer interaction & engagement. It streamlines the entire ticket management process. With its SLA & escalation management, it enables your help desk to deliver enriching customer experience.
 



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