Predictive Analytics is one of the hottest trends in business today.
If you don’t have cutting edge predictive analytics you are missing key insights which can make your business successful. Big data coupled with deep learning, helps to make sense of the enormous amount of information available to you. Our Scientific Advisor Mike Mozer has written about conferences exclusively devoted to exploring the latest algorithms and modeling techniques.
Modeling and predictive methods are very important, yet many times there is an equally important piece of the puzzle missing amidst all the chatter. AnswerOn would argue, (and our clients would as well), that the missing piece is the business process behind the analytics. This represents the hands-on mechanism that enables the cutting edge predictive modeling to be put to effective use, to help solve business problems. Without the business process, your predictive analytics is just telling you that you have problems, not giving you suggestions on how to solve them.
A Small Case Study:
Call Centers hire many top tier consulting firms to analyze their internal processes. Procedures such as coaching techniques are analyzed for their impact on agent attrition and work environment. One consultant concluded that Company A needed to make coaching much more prevalent in the day to day activity on the call center floor. That was the only finding and the advice given; “do more coaching”. Supervisors, with no real direction at how to implement this objective, asked the obvious questions: “Coach them about what? Coach them how often? Where do I coach them? How do I keep track of coaching sessions?”
Company A did not have the necessary infrastructure that would be needed to take this advice, implement it, and succeed. Additionally, the time spent by staff on these coaching attempts was extremely inefficient as they were only coaching for the sake of coaching. They were just trying to meet the recommended quota given. As a result, agent attrition soared higher and higher and supervisor satisfaction and performance declined because this vague initiative caused frustration and added stress to the work environment. AnswerOn refers to this as unstructured, non-contextual unprofitable interactions.
Company A then turned to AnswerOn. Using advanced predictive analytics to identify agents that have become disengaged and were at-risk for churning, AnswerOn also provided Company A with the business process and necessary tools to perform targeted, structured coaching. We taught them how to use our cutting edge Predictive Analytics in an impactful way. AnswerOn has developed our solution directly with experts in the call center industry, designed specifically to focus on what they need for it to work. As a result, supervisors love this solution because it gives them an organized, structured way to interact with their agents. The results have been outstanding. Lower attrition, better performance, improved work environment.
To see more details on how the AnswerOn Solution uses predictive analytics to carry our customers through to an actionable answer to their attrition concerns, request our Customer Success Case Study.