Everyone wants to get back to business as usual, and perhaps none more so than those in financial services and healthcare — two industries that shape our everyday experiences. From a macro perspective, while banks were already evolving how they offered their products and services prior to COVID-19, the pandemic has consequently accelerated consumer adoption
In my last Tableau blog post, I discussed the advantages to using Tableau as a tool during machine learning model development, both for exploratory data analysis and for disseminating model results in an interpretable way to business consumers. Let’s take that one step further and look at a specific use case that is common for
Account growth and retention is not a new focus, but the way we prioritize and achieve it has changed in recent months. According to American Banker, “Two-thirds (68%) of respondents to the latest Arizent survey of 450 executives say their companies experienced moderate to considerable challenges on customer acquisitions due to the impact of COVID-19.
You’ve no doubt heard that it’s more cost-effective to keep your existing customers than it is to acquire new ones. But even with the most successful data-driven customer retention efforts, most businesses still need to attract new customers and reach new target markets to sustain growth. The real cost of customer attrition is complex, with
A turbulent business landscape, along with shelter-in-place mandates, have left customer service representatives dealing with a new challenge: working remotely in addition to heightened complexities due to changing cancellation policies. The sheer volume of calls coming in can easily overwhelm newly remote agents, increasing their stress levels and decreasing the quality of service they offer.
When companies start focusing on customer retention, most find that they are playing catch up in several ways. Seeing customers leave is one thing and understanding why is another, but the critical thing that companies struggle with the most is developing methods to proactively address customer churn. Many organizations have developed some version of a
Today’s challenging times are proving that customer service and customer retention are more important than ever. Imagine the following all too relatable scenario: you just ordered a case of toilet paper from your favorite online retailer. You’re elated as you managed to find it at a normal price, and it’s set to deliver this week,
Artificial intelligence, as the next wave of technological advancement, has redefined how businesses operate. It has become a powerful resource that provides benefits such as recommendations and predictions into lead conversion, customer retention insights, and even organizational strategic improvements. Once an out of reach, picturesque scenario for businesses, pure automation, and powerful recommendations are now
How well are you adapting your customer experience to the new dynamics of engagement? It’s clear that all companies have been impacted by recent events in the world. If your company has a solid grasp on managing the customer experience and you have been chugging along executing against your well defined roadmap….Congratulations! But I’m sorry