Over the past 2 years, companies of all types have invested heavily in tools and technologies to help them understand their customers more deeply and to gain the advantages of superior customer experience (CX). This enables companies to collect a broad array of customers and their interactions data which form the foundation for adoption of Predictive analytics.
Predictive analytic is a form of data analytics that make predictions about future event and understanding of behaviours. It incorporates historical data, feedback and techniques such as statistical modelling, AI and machine learning. Because the technologies continue to learn and adapt based on the data fed into them, the insights they provide increase over time.
Predictive analytic is the future of CX and brings substantial benefits to companies that started early such as:
Better Customer Insights
Knowing what customers want or the problem they are facing helps keep them loyal. These insights also help you to transform interactions into personalized engagements.
Lower Customer Churn
Predictive analytics can enable churn modelling, a technique used to identify customers who might be at risk of leaving - and help companies work to retain them.
More Effective Agent Training
The ability to identify the knowledge gap in your agent helps companies to provide targeted training to enable them to be more effective.
Improve strategic decision-making and investment
With the insights generated, companies can now make more informed decision based on real understanding on where they should invest that create the biggest impact on customer loyalty, satisfaction and that boost revenue.
Increase Customer Loyalty and Retention
Providing a means to serve the customer better using predictive analytic help you to increase customer loyalty and retention.