February 26, 2021
A new set of recommendations from McKinsey, based on the importance of leveraging predictive analytics, sums up the situation this way: “CX programs of the future will be holistic, predictive, precise, and clearly tied to business outcomes.”
That’s the future Verint and our clients have been living in for a long time.
Verint CX solutions have been in the field for 20 years, helping organizations collect and act on comprehensive customer experience data—and the engine that powers those solutions has been an ever-advancing predictive analytics methodology.
McKinsey authors note how executives increasingly recognize that survey-based measurement systems are not enough to power a successful CX strategy, calling out their limited, reactive, ambiguous, and unfocused data. What’s really needed, they say, are immediate signals that can be used “to take action ‘in the moment’ and to create relevant experiences for each customer” and the ability to “demonstrate that the experience enhancements they would like to invest in will result in positive ROI.”
We agree. Verint has been advancing CX strategies that enable organizations to go beyond surveys and use digital behavior analytics to capture and analyze inferred data from millions of digital clicks, gestures, taps, and other actions.
The McKinsey article also explains how “the world of insight generation has transformed through impressive advances in the ability to generate, aggregate, and analyze data,” and calls on organizations to embrace Internet of Things (IoT), machine learning, and other new technologies in order to understand customer attitudes, behaviors, and preferences.
Specifically, they recommend a predictive customer-experience platform that consists of three key elements:
Verint Experience Management has this covered. Our solutions ensure data collection and integration happen across digital, physical, and contact center touchpoints, and that unstructured text and speech, transcripts and open-ends, and behavioral inputs are part of the equation. Combining comprehensive data collection with our Predictive Experience methodology helps you gain insights from everywhere, automate decisions, keep teams on top of minute-by-minute changes and issues, and link changes to desired business outcomes.
Addressing the challenge of turning data into insight and action, especially when organizations might be siloed or resistant to change, McKinsey stresses four key steps:
Verint helps organizations create a customer-first approach by breaking down silos to unify teams so they can work toward common goals CX from all angles—from tactical hot fixes and product improvements to strategic decision making. And they don’t reach maturity overnight: the ability to deliver best-in-class experiences is more often achieved through a phased approach.
Great CX matters: Customers who report having a great experience are 84% more likely to recommend your brand. With so much riding high-quality engagements, we’re happy to see CX industry minds align around what we’ve been building on for so long: moving beyond the survey, gathering insights from everywhere, then connecting that data for a unified view of engagement and sharing it throughout to ensure the entire business can make better decisions, faster.
To start building a predictive, holistic, and unified CX strategy for your organization, reach out to us at ExperienceManagement@Verint.com.
For insights into what business leaders around the world think about their preparedness for rising customer expectations and a rapidly changing workforce, download our new Engagement Capacity Gap study.
CX Best Practices, CX Strategy, ROI of CX