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PrediCX helps financial services provider improve customer experience and lower costs


The Problem

A retail financial services company was struggling with unpredictable call volumes to its call centres. They wanted to be able to predict when customers would call and the likely issues they were calling about. This would enable them to recommend ‘next best action’ on the operators’ screens, update their website accordingly and send pre-emptive outbound text messages. This would ultimately improve the customer experience and reduce costs. They also wanted to understand the aggregated issues that mattered, so that they could prioritise the issues that most affected customer satisfaction.


The Solution

They turned to PrediCX from Warwick Analytics. PrediCX is a predictive analytics engine which takes all heterogeneous data and processes it dynamically to make recommendations to operators in terms of ‘next best action’ based ultimately on optimising the customer experience (CX).

Customers can be segmented and scored in terms of the company input versus their potential lifetime value to enable the appropriate levels of service delivered to the right customers. This can be shown to drive both customer satisfaction scores (NPS and CES) as well as reducing cost and potentially increasing a customer’s lifetime value.

The core technology is based on over a decade of academic research in automatic predictive analytics from heterogeneous data. Proprietary algorithms mine and validate predictive signals from CRM notes, transactions and records, and even social media data.


The Results

For the customer services and customer experience executives, there were many tactical and strategic pre-emptive outputs available: knowing when best to send outbound texts and emails; improvements to be made to website interactions; making chat options available proactively; prioritising actions for the operations teams. These all helped to improve customer experience and save operational costs.

Furthermore, by segmenting customers and identifying the factors which predict churn and cross-sell/up-sell, the sales team was able to identify opportunities to secure leads with more relevant offers and outbound conversations.

The Head of Customer Services said: “If someone had said to me we can improve customer experience, increase the potential lifetime value of our customers and save money at the same time, I would not have believed them. However that’s exactly what PrediCX does. It enables us to know what we didn’t know before. We can operate smarter and improve the metrics that our customers and our organisation cares about. The entire operating expense is reduced as we are focused purely on the actions and SLAs which are relevant to driving customer satisfaction.”

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