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Companies across the world are beginning to establish Voice of the Customer (VOC) programs – using text analysis and other tools to listen to their customers on a large scale. They are monitoring feedback in a way that was previously impossible, and are changing their businesses based on what they hear. Meanwhile, Corporate Social Responsibility (CSR) [...] Voice of the Customer programs are evolving as predictive analytics and text mining expand a company’s ability to understand, and react to, customer complaints, suggestions, and feedback. We recently asked our colleague Bruce Johnson, a data mining expert with over 20 years of experience in the field, to share a few musings. Here’s Bruce’s take:
Do your customers embrace you as an ally? …or tolerate you as a necessity? Think about an industry such as financial services. Most people need to rely on banking to manage and grow their money, because at some point the hiding-it-under-the-mattress strategy doesn’t scale up. But for many customers, banking isn’t fun or inspiring; it’s just [...] Wondering how to put data analytics into action and achieve impressive results? Please join us for a live lab session at the Predictive Analytics World Conference in San Francisco on March 15, 2011. Beyond the Arc CEO, Steve Ramirez, will show you how our management consulting team has helped one of the world’s largest banks build [...] Are your senior executives looking for a quick return on your Customer Experience efforts? Beyond the Arc can help. Our Voice of the Customer QuickStart program helps financial services clients focus on key customer touch points, understand the data requirements, and build models to uncover insights [...] Recently, I read Right Now’s Customer Experience Impact Report 2010, and it brought home many of the observations Beyond the Arc has made during Voice of the Customer (VoC) engagements. The report reinforces our belief that capturing and analyzing feedback from customer touchpoints is an effective and relatively inexpensive way to understand how your customers [...] Are you taking too narrow a view of your customer data? Nothing is more critical to strategizing and executing an effective Voice of the Customer (VoC) program than looking at the “big picture.“ As an example, our financial services clients gather massive amounts of data from customer transactions and mine it for insights about what customers [...] |
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