Redefining Customer Analytics in a Digital World

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  • 1. optier.com REDEFINING CUSTOMER ANALYTICS IN A DIGITAL WORLD M AY 2 0 1 4
  • 2. THERE HAS TO BE A BETTER WAY….BUT EVERYONE ACCEPTS “THE GOLDEN RULE” DATA TOOLS (ETL) DATA WAREHOUSE MODELING & BI STEP DATA WAREHOUSE Applications
  • 3. WHAT IS THE FUNDAMENTAL ISSUE THAT HAS TO BE ADDRESSED? Applications • Data itself needs to be managed differently at the start of the process. • Applications today save/explode the data associated with a “customer event” all over the data center. • What is required is a single record for each “customer event” that contains all the relevant data associated with that interaction.
  • 4. IMAGINE IF THIS APPROACH WAS APPLIED TO A GLOBAL RETAIL BANK • What would this mean to the business? • How would this impact IT? • What would be the impact to the overall cost of delivery? Banking Borrowing Investing Insurance Business Units Real-time view of customer interactions across all digital touch-points
  • 5. CAPTURING THE DATA WITHOUT MODIFYING ANY APPLICATIONS • The end-user initiates a transaction. • Each transaction is uniquely tagged with a “bar-code.” • The “bar-code” is monitored and used to capture data across each tier of technology. • 100% of customer event transactions are created and housed in a big data store. • Transactions are stored in their “raw” state.
  • 6. FURTHER WORK IS REQUIRED Example (for discussion purposes) - Record 1 Business Unit Retail Investments Channel Type Web Customer Number 135-79-2468 Customer Name John Smith Customer Type Diamond Date/ Time 3/1/2015 9:00 Transaction Type Fund Transfer Account From Investment Account Amount $1,000,000 Transfer To Fidelity How Many Times Has This Occurred in Last 90 Days? 3 What other services does the customer use? Mortgage, Credit Cards, Retail Banking Current Weather Heavy Snowstorms Dashboards R E A L - T I M E STEP 1 Initial Data Capture STEP 2 Data Cleansing STEP 3 Augmentation System Alerts Third Party Visualization Tools
  • 7. THIS CAN BE DONE. CASE STUDY: LARGE NORTH AMERICAN UTILITY Install software & design analytics Capture & store 100% of transactions in real-time Work with tool to “cleanse” transactions Finalize analytics design and rules WEEK 6 Produce real-time, interactive dashboards WEEK 1 WEEK 2-3 WEEK 4 WEEK 5 • Real-time view of customer activity across all digital touch-points • Real-time dashboards illustrate customer behavior’s impact to satisfaction • Individual customer activity records relayed to call centers with past 24 hours of cross-channel activity
  • 8. optier.com WHY IS THIS IMPORTANT? Faster Business Results Reduced IT Risks Reduced Costs
  • 9. OPTIER’S LEGACY ACT Founded 2003 Lead end-to-end performance management software industry Patented ACT technology DNA for Analytics • 8 of 15 of the world’s largest banks. • 4 of 6 of the world’s largest telecommunication companies. • 2 of 5 of the world’s largest credit card companies. • 2 of 10 of the largest U.S. insurance companies.
  • 10. THE OPTIER 8-WEEK ANALYTICS CHALLENGE In just 8 weeks, OpTier can provide you with a detailed record of every customer interaction across 2 business units analyzed to address a specific business problem. Email challenge@optier.com to determine if your company qualifies.