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We talk predictive analytics with CIO.com

30 Apr 2019
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CIO.com is a well-known digital publication designed for enterprise CIOs and business technology executives, providing unparalleled peer insight and expertise on business strategy, innovation and leadership. We were excited to be able to share some of our input and expertise in applying in artificial intelligence (AI) for a recent article on the site, “7 ways predictive analytics can improve customer experience.”

In the article, author John Edwards covers ways that AI-powered analytics can drive sales to higher levels by helping organizations anticipate customers’ needs and exceed their expectations. He writes “Predictive analytics is revolutionizing the customer-marketer relationship, boosting sales while simultaneously increasing shopper satisfaction.”

The article outlines seven ways that organizations can use technology to impact customer service, and sales. The author dives into things that predictive analytics can improve like:

  • Serving customers the right message at the right time on the right channel via hyper-personalized marketing
  • Creating immersive experiences and instant gratification with a “virtual concierge” approach
  • Forecasting customer needs, sometimes even before the individual has made up his or her mind
  • Increasing buyer loyalty and retention by reducing customer churn
  • Allocating and managing resources more intelligently and productively
  • Supporting internal teams with the insights needed to resolve customer problems quickly and accurately
  • Streamlining shipping to ensure reliable, on-time arrivals

Via an email interview, our founder and principal data scientist, Adam Lichtl, gave some feedback on what companies can expect when using this technology to find ways to better serve their customers.

Adam weighs in on some of the points, saying:

For the first time in history, social media and other online avenues allow marketers to interact with people anytime, anywhere. “This provides an unparalleled opportunity to discover the emerging patterns that help companies marshal their resources and direct their energies more effectively,” explains Adam Lichtl, founder of Pacific Data Science, a data analytics consulting firm. “By collecting all these little points of data around the customer experience and integrating them together we can get a better picture of the customer journey — before, during and after they engage with the company.”

He also provides some insights on how we can use predictive analytics to precisely forecast customer needs, saying:

“Predictive analytics can provide early detection of precursors to change in customer behavior,” Lichtl observed. “This allows brands to be more proactive, enabling them to tailor their messages in anticipation, effectively serving the customer before they even know they have a new need. It’s an approach that allows organizations to provide superior customer service,” Lichtl added.

Read the complete article on CIO.com here: https://www.cio.com/article/3387640/7-ways-predictive-analytics-can-improve-customer-experience.html

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