How to Use Your Communications Data To Improve Your Business
Mikko Muurinen writes about the potential uses of Communications Business Intelligence and its future.
A key driver for Benemen is the desire to enable our customers to be more successful. We help through our Communications and Customer Experience Management solutions. To help in the best possible way we need, not only to provide better operational solutions, but at the heart of those solutions to turn data into useful and meaningful information for business purposes.
Currently, for our customers it is common practice to use information from multiple channels and data sources. Real time visibility and comparison to historical data reveals bottlenecks and problems that can be utilised to improve quality control and business development. Classifying communication events, combining them with customer background data, customer feedback and other external data creates a more complete picture. It may reveal the root causes of customer satisfaction levels to help improve processes and find gaps in training.
But what is next? What could we do with our Communications Business Intelligence solutions to boost the customer business even more? Alongside the ongoing process of providing even more embedded and mobile capabilities we are looking into new ways of utilizing the full Business Intelligence solution spectrum.
Here are a few examples we have on our drawing board... Some of them may see live action sooner, and some may not be viable after all. It might be better to tone some features down to ensure data privacy. The aim is always to examine how these concepts might help our customers business. The underlying target is to turn the information to knowledge and the wisdom to apply it.
Utilizing advanced analytics to power business processes
Predictive modelling, machine learning and complex event processing can bring a new level of efficiency to decision making processes. These capabilities could help in two ways.
First, we can utilize these capabilities internally inside our operational solutions, e.g. to create more effective ways to handle the complex intelligent call routing cases. Secondly, these capabilities could be used by our customers to lower their customer churn and forecast resource needs in more detail. And this power needs to be embedded into business processes. It must be something beyond just seeing forecasts in reports, it needs to actionable or even prescriptive, e.g. automatically modifying the operational process to prevent undesired things or boost desired outcomes.
Using sentiment analysis to understand customer emotions
Ever increasing computing power, advances in voice recognition, speech-to-text techniques and sentiment analysis can make real-time sentiment analysis common in the near future. The ability to analyse customer sentiment, not only through customer feedback surveys, but via communication events can create new opportunities to improve customer service. The next step would be to integrate facial recognition to video calls to get even more data to detect emotions in a video call.
Power of Big Data and weak signals
The previous example is also an example for big data that emits weak signals, sentiments and perceptions about products or services, competing offers etc.
But when we incorporate more concepts from the Internet of Things (IoT) hype, we can extend this scope even more. It will not be long before a significant part of the overall communication towards and from your company is generated by or for machines. One possible scenario could be that when a known patient is calling a health care provider, a video call is used to get visual overall examination possibilities, plus the data from sensors worn by the patient could be read as a data source as well, and the analyzed results shown beside the video call.
Big data from public sources, combined with text mining methods, could be also used for being proactive in the social media channels instead of the normal reactive approach to social media channels most companies have today.
It is an interesting moment to be in this industry as there are so many powerful possibilities to move Communications Business Intelligence to the next level. If you are interested in hearing more, or want to challenge our thoughts, please do not hesitate to contact us via this link and we'll be in touch for an informal chat.
Mikko Muurinen is the Chief Analytics Officer of Benemen Oy and Business Intelligence enthusiast based in Helsinki, Finland.
You can find him on Linkedin at https://fi.linkedin.com/in/mikkomuurinen