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Conversational AI-led analytics is indeed the game-changer for contact centers | Part 2 of 3 | geniSIGHTS

BPO – Analytics: A prerequisite for operational efficiency:

The contact center has extensive information about customers, their behavioral and non-behavioral data, product experience, and the interactions with the frontline staff. With appropriate analytics, the information could be modeled to predict very useful characteristics to promote the product, up-sell/cross-sell, predict the intent of the customer call, etc. 

BPO sector sets forth the following expectations which can be achieved through Advanced Analytics:

  • The historical and current data needs to be analyzed to uncover the masked opportunities for the strengthening of the organization. 
  • The potential customers have to be identified, segmented, and targeted for the marketing campaign.
  • The unstructured data from the customer complaints have to be extracted and analyzed further to enhance customer service strategies.
  • The data from social media requires to be mined to determine emotions and opinions about brands, products, and services. 
  • The customers who are likely to cease the service from the business need to be predicted.
  • The intent of the customer has to be predicted to give what exactly the customer wants before they ask for it.
  • There is a need for prediction of the future using extensive evaluation of the past performance
  • Recurrent issues of a product should be categorized for future enhancements.
  • The best products to be recommended to customers are to be predicted so that they can easily find their desired product.
  • The total value a customer can bring to a company throughout their lifetime is to be measured.

Analytical Solutions for Contact Centers:

geniSIGHTS understands the pressing needs of Business Process Outsourcing companies and has come up with a handful of analytical solutions. These intelligence solutions yield valuable insights to organizations ensuring the highest level of customer satisfaction.

Some of the analytical solutions offered are:

Uplift Modelling

The Uplift Modelling ensures that the customers who have higher propensity scores are rightly identified and targeted for the marketing campaigns. The customers are segmented into four categories based on their behavior after being encountered with a marketing action.

  1. Sure Things – Customers who would have responded whether they were targeted or not.
  2. Lost Causes – Customers who will not respond irrespective of whether or not they are Targeted.
  3. Sleeping dogs – Customers who are less likely to respond because they were targeted.
  4. Persuadables – Customers who only respond to the marketing action because they were Targeted.

Cross-sell/Upsell recommendation

The cross-sell recommendation suggests the customers for the complementary product when they purchase a new product. The upsell recommendation shows up the customers with a better version of the product that they plan to buy. This system uses affinity analysis/association rules mining to analyze the co-occurrence of relationships among activities performed by customers and discover the cross-sell/up-sell opportunities accordingly. 

Recommendations Systems

The recommendation system exceptionally helps the business to predict the most likely product that the customer will buy. This system can therefore provide more personalized offers for the items of the customer’s interest.

Predicting customer churn rate

Customer Churn analysis predicts the customers who are likely to cancel their subscription from the company. The analysis also helps to understand why the customers are leaving and the possible ways to reduce the churn.

Sentiment mining

Sentiment mining extracts the necessary information from social media to understand what people think about a product or how they look up to a brand. The emotional tone behind each mention in social media can be derived from this analysis.

Customer Effort Analysis

The customer effort analysis brings out the amount of effort a customer puts in getting his issues resolved through various touchpoints.

These are some of the advanced analytical solutions that the conversational AI could offer for the problems faced by contact centers. Wait for edition 3 to find out how Conversational AI resolves all the problems of contact centers in real-time.

Are you a contact center organization looking for real-time & customized analytics solutions for your business?

We have a product explicitly designed to cater to your analytical needs. Get in touch with us at info@genisights.com or contact@flash.genisights.com to schedule an appointment today!

You can likewise visit our website https://flash.genisights.com/ to know more about our product.

Learn how Advanced Analytics aids the contact centers to enhance the customer experience thereby converting contact centers to revenue centers. Our Conversational AI product FLASH comes handy providing meaningful insights in just a matter of seconds.

Conversational AI-led analytics is indeed the game-changer for contact centers is a 3 part blog. Part 1 concentrated on the problems faced by the contact centers which is now followed by the solutions conversational AI could offer in part 2 and how the conversational AI solves the problems in real-time will be in part 3 of the blog.

Conversational AI-led analytics is indeed the game-changer for contact centers | Part 1 of 3 | geniSIGHTS

How Conversational AI assists Contact Centers?

Advanced Analytics assists Contact centers to hasten the decision making with real-time insights. It extends tremendous support for the Business Process Outsourcing Companies in improving their Key Performance Indicators thereby enhancing customer satisfaction.

In the competitive industry, building trust over a brand is inevitable. The companies are increasingly investing in service centers to improve the key determinants like customer acquisition, customer retention, and customer margin. The contact centers are continuously evolving at a fast pace to meet the customer’s demand anytime. They serve as a bridge between the brand and the customers. Establishing a strong customer base is vital for every business and the contact center does this job effectively.

Frontline staff at the war front:

The frontline staff is the first point of contact for the customers with the company. They are also responsible for retaining a business reputation. The expectations of the customers are tremendously increasing over time and the frontline staff needs to be well equipped to satisfy the customer’s needs. Also in the fast-paced environment, everyone expects things to get done fast.

The Frontline staff are upskilled on the product completely to deal with the most difficult customers. But due to high attrition in the service center sectors, the new staff are not well educated on the product leading to the frustration of the customers.

There is a pressing need in the industry to implement a software solution that behaves like more of a data assistant to these frontline employees. The conversational AI ensures that the customer receives a more personalized and quick response. When the frontline staff is faced with similar kinds of requests from the customers, the conversational AI connects to the data in the past and provides the relevant suggestions to the staff. The resolution time of the queries will greatly be improved which in turn provides positive customer feedback.

Major Concerns of a Contact Center:

High Attrition Rate:

High Attrition Rate is an alarming concern of the contact center industry that has to be addressed. Every customer expects instant resolution for their real-time queries. The front-line staff should be well equipped and trained with accurate solutions to avoid potential customer’s turn-off. Oftentimes, the new service staff is unaware of the past queries and how the organization resolved them previously. The attrition rate necessitates the contact center company to hire and train the new staff which imbibes huge costs.

First-call resolution (FCR):

First-call resolution (FCR) is widely regarded as an important facet for achieving customer satisfaction in the Contact Centre. However, as today’s customers tend to ring with increasingly complex queries, it isn’t always possible to provide an immediate answer. If callers end up having to speak to several agents regarding a single inquiry, the customer experience becomes inefficient and satisfaction levels plummet. 

Repeated Calls:

A recent survey reveals that 20 to 30 percent of a Contact Centre’s call volume is callbacks from previous, unresolved issues. In another survey, it was found that 70% of UK customers speak to an average of two to five customer service representatives before resolving a single issue which has reflected the preference of consumers across the UK from Contact Centres to various other channels like email, chat, or use social media or mobile apps and a host of other sources to drop a line.

Lack of Information:

The customers contact the service centers for information. When the service agent is unequipped with the solution, they put the customers on hold. The customer gets aggravated and frustrated when they have to wait for long. The waiting time is the biggest turn-off for a customer seeking help on an issue.

Customer drop-out:

Many of the contact centers have been using Interactive Voice Recording Systems to reduce the number of calls reaching an actual agent. This helps reduce the cost of the customer care service of a company but also has its downsides. Some say the voice prompts are difficult to understand and give too much data in too short a time (Misrouted analysis). Also, most of the time, customers dislike talking to a machine and request to be transferred to an agent thereby increasing the customer drop out rate. 

These problems faced by contact centers can be effectively resolved by Conversational AI-led analytics. Stay tuned to find out how Conversational AI could resolve the contact center’s problems in our 2nd edition of ‘Conversational AI-led analytics is indeed the game-changer for contact centers.’
If you are looking for a tool that will resolve all of these issues efficiently, we have an amazing tool “FLASH” available to you. Contact Team FLASH at info@genisights.com or visit the website https://flash.genisights.com/ to know more about its capabilities and benefits. You can also schedule a demo now with the Team FLASH to discuss the details of your requirements.

Learn how Advanced Analytics aids the contact centers to enhance the customer experience thereby converting contact centers to revenue centers. Our Conversational AI product FLASH comes handy providing meaningful insights in just a matter of seconds.

Conversational AI-led analytics is indeed the game-changer for contact centers will be a 3 part blog. The first part concentrating on the problems faced by the contact centers followed by the solutions conversational AI could offer in part 2 and how the conversational AI solves the problems in real-time in part 3 of the blog.

Analytics Adoption: ‘Precanned insights’ vs ‘Real-time insights’

Organizations have lots of data, reports, and insightful dashboards but are they actionable? How easy for the organization to leverage insights from Dashboards?

Max is disappointed with the insights provided by Julie. Alex said he will talk to the Dashview team to build the reports quickly.

The Dashview needs 2 more days to build the reports.

Alex volunteers to fix the meeting with the FLASH team the next day.

Team FLASH demonstrated FLASH to Max and his team. Max was stunned to see that FLASH not only generated the insights quickly but the insights are real-time insights.

FLASH can power your decision making as well. What are you waiting for? Contact the FLASH team @ info@genisights.com or visit the website https://flash.genisights.com/

Effective Decision Making

  FLASH CORNER

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The BI Survey research found that 58% of the surveyed companies relied more than half of their decisions on gut feel or experience over data. But two-thirds believe that information will be valued for decision making in the future. Highly data-driven organizations are 3X more likely to report significant improvement in decision-making, according to a survey by PWC.

The HiPPO effect, coined by Avinash Kaushik and reiterated by Bernard Marr in Forbes, is usually the most experienced, most powerful, or highest paid in the room. Once they voice their opinion, others find it disrespectful to voice their own. This may not lead to desired results. Let’s think if the decision would go on a similar path if the time and resources would be different. Given more time, you would probably rely on the opinion of a board of directors or your experienced colleagues. Will you still be completely confident?

   Data however changes this. You have an unbiased opinion based on facts that leads to better results. Data analytics uses information from all sources and simplifies it to visual representations that highlight what you need. You are now capable of viewing all your information in just one screen. But data is useless until interpreted. Data-driven decision making or DDMM lies in interpreting this data for actionable insights. A term fondly called as data storytelling is considered an art. Artificial intelligence-based complex algorithms make sure to see more than what the human eye and mind are capable of. These insights help drive your decisions in directions that lead to success. So you have got your data, got your insights from this data, why then have you not used it to make the decision given to you 10 minutes ago?

The problem with many AI solutions is the inability to get exactly what you want when you want. You have a ton of data and a ton of insights but how does your BI tool know what you need to reach the answer for the question given to you 10 minutes ago. You have knocked on the door of data analytics and are seeking the solution. But can’t you just ask?

FLASH, by geniSIGHTS, gives you the power to simply talk to your BI tool and seek the information you need to come to the decisions that will open the right doors. In turn, FLASH also talks back to you with insights. FLASH is a one of a kind voice-powered dashboard that provides quick insights into your organization’s metrics. It goes beyond the functionality of Business Intelligence and uses conversational AI in the dashboard to respond to queries and generates real-time insights for actionable decision-making.

FLASH is AI-driven, lightweight, and easy to use.  It can easily be integrated with your existing data systems without having any extra software. It is also accessible from any location and insights can be exported and shared with the members of your organization. The visualization can be customizable and easily understood without any expert knowledge of data. FLASH ensures that your entire team is on the same page, making your user experience smooth and without any delay. Unlike other solutions, FLASH learns continuously to understand what you need for your business and becomes your virtual data assistant over a period of time.

FLASH is your AI agent who has all the answers you need to make decisions in a FLASH. We have seen how Amazon’s Alexa has made life easier. Shouldn’t your dashboard be able to do that? Now you can make your decisions within 10 minutes and be sure of it.

FLASH gets you what you need, you simply need to ask it. Check out FLASH at https://flash.genisights.com/







SME Focused Analytics/Reporting Tool

Data! Data! Data! I can’t make bricks without clay!

–  Sir Arthur Conan Doyle

Data is the building blocks for the new age technology. SMEs (Small/Medium enterprises) often face challenges in adopting data-driven growth because of the following key issues:

  • Difficulties in effecting data analysis & procuring insights when in need.
  • Need to spend Time frequently for analysing & interpreting the insights.
  • Find themselves facing a brick wall without openings in BI/Analytics journey due to cost, efforts involvement.TEXT

SME’s desiring to adopt existing reporting tools in the market often complain they do not obtain ROI. Return on Investment(ROI) explains the degree of profitability and ROI significant for SME’s. If a SME contributes $500 for adopting a reporting tool, the return should be at the multiples of $500.

The cost of preparing existing manual report using spreadsheet applications is neither cheap as it appears. It requires frequent manual interventions, periodic version updates add to the unscheduled cost.

 WHY geniMINI

    •  geniMini a cloud-based reporting and data visualization tool for SME’s, is an analytical product of geniSIGHTS, established at IIT Madras ecosystem incubated by NASSCOM.
    • It engages basal engineering where the SME’s can precisely upload the data into cloud. Custom reports are generated with pre-designed dashboard templates as per the business needs.
    •  geniMini associates a cost advantage offer of $150 per month and with a lesser TCO. It enables the organization to lead a successful journey of analytics.

Sounds interesting? Book your convenient slot with the team here

                                                       Visit geniSIGHTS for more information
The report we build, Analyses we perform,
Decisions we make and the best we can drive.