Being a former defensive football player, I had an interesting thought after the Super Bowl. Tracy Porter, the Saint’s cornerback who picked off Peyton Manning, said that they had studied Manning on film and knew he was going to throw that exact same pass. That’s “analytics”, the ability to predict likely behavior. However, the cornerback didn’t take that information and call a time-out to hold a series of meetings on his findings. He “acted” (and intercepted the ball) resulting in a Saints victory. Just like the retail banks that rely on Chordiant Cx Solutions, he was able to “operationalize” the data.
In a recently updated report by Forrester entitled “The Marketing And Customer Analytics Software Landscape”, Suresh Vittal discusses how simple analytics doesn’t work for customer intelligence any longer. I found the two paragraphs below (emphasis added) very intriguing:
Today, predictive analytics go beyond response prediction to serve all kinds of marketing goals like Cross-sell/Up-sell, retention, and loyalty management. But firms are only scratching the surface when it comes to applying analytics to drive customer decisions. As the head of Customer Intelligence for a large retail bank described, “We want prediction to inform more than just marketing. We want to influence our go-to-market strategies, collections management, risk mitigation, and fraud detection.”
Insights are rarely available at the point of interaction. For most organizations, analytics remains the domain of the power users and data analysts. As the head of CRM for a European telecom explained, “Our intelligence team generates great insights. But we are constantly struggling to integrate these insights into our customer and marketing strategy.” This is a common refrain – marketing teams often lack the skills or the technologies to integrate the essential insights to guide customer interactions.
If you take a look at Chordiant’s solutions, you’ll see that this is exactly what we do. Chordiant coined the phrase “Next-Best-Action™” to recognize our solutions are more than just offers and we do it in real-time. We operationalize analytics at the point of interaction just like Tracy Porter did!
— Scott Andrick, Director, Product Marketing – Financial Services
