During this presentation Niren Sirohi, Ph.D., iKnowtion Partner Data Science and Consulting, explained customer-centric companies that want to become more sophisticated in their quest to generate greater revenue and higher profits are turning to their customers and prospects for answers. They have discovered that by listening more closely to what their customers and prospects are saying - both directly and indirectly - they can increase sales and cut costs across their company. Niren went on to explain how connecting the dots across different voice of the customer (VoC) sources can provide powerful insights in several areas: value propositions, offers, operations, customer experience and customer care. He explained how VoC data can drive meaningful insights and help explain why customers have certain attitudes/perceptions about a brand and provide meaningful insights regarding trending topics and customer sentiment that can be acted on in near- or real-time to optimize opportunities and mitigate risks.

1. 1
Your Customers Are Talking to You
Did You Hear What They Said!?!?
Niren Sirohi, Ph.D.

2. 2
Niren Sirohi, Ph.D.
VP, Predictive Analytics
iKnowtion
Leads iKnowtion Predictive Analytics
20 years developing and
implementing strategic analytic
solutions for global brands
financial services, retail,
consumer goods, hospitality, and
telecommunications
Today’s Presenter

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Apply Analytic and Consultative Best Practices:
 Identify customer-level opportunities
 Inform customer-centric strategies
 Maximize customer-focused
programs
 Measure customer-driven impacts
iKnowtioniKnowtion – Leaders in Analytics

4. 4
Who We Serve and What We Offer
Senior
Management
Advertising
and Media
CRM Market
Research
Product
Management
Customer
Experience
Sales and
Marketing

5. 5
 Commoditization pressure
 Explosion in channels with
the digital revolution
 Shift in balance of power to
customers
 Amplified Word of Mouth
 High customer expectations
Today’s World Reality For Marketers

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Customer Feedback Is A Rich Source
It’s Varied and Comes in Many Forms
Structured
(Quantitative)
Unstructured
(Qualitative)
Company-Initiated Customer-Initiated
Illustrative for a Wireless Provider

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Customer Feedback
In isolation is NOT Enough
Customer Feedback
Operational Metrics Customer Transactions

8. 8
Current State of VOC Solutions
Today’s solutions have serious shortcomings
“Type of Data” Silos
Lack pattern recognition ability Don’t drive action
Don’t cover all touch-points
Speech Text
Survey
Web

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
Leverage Elastic, MPP, Cloud-based Analytics
Platform
Integrating Siloed Channel Infrastructure
Execute
trades
Positive
comment on
Facebook
Adds money to
brokerage
account
Data
Processing
Signal
Creation
Action
Orchestration
CRM
Web
Interactions
Jack placed a large sell
order today that did not
execute
Yesterday, Jack made a
negative comment about
our fund platform on our
Facebook page
A week ago, high value
customer Jack tried to
watch a video on our
website that failed to load
Real Time
Listening
Jack is a high value, high
risk customer who should get
a call from his advisor:
■ Acknowledge issues
■ Offer free trades
■ Ask for recommendation
if satisfied
ALERT!
Real Time
Decisions
Wealth
Management
Advisor
Phone Call
..... ....
Story begins…
...Happy Ending



3:50 pm
4:00 pm

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Touch-points: Opportunities to Influence Experience
Examine the Customer’s Entire
Journey, NOT Just Activities Which
You are Involved in Today

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Measure Behavioral Intentions
Net Promoter Score Tracks Sentiment
Likelihood to Recommend

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Key Questions of Analytics
What is the expected
business impact of improving
customer perceptions by X%?
What operational and process
changes will be needed to improve
customer perceptions by X%?
How do we generate continuous insights from
real-time customer feedback across touch-points
and channels?

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In Order To Be Actionable
Focus Analytics on Linkages
Operational
Performance
VOC (Customer
perceptions,
feedback,
intentions)
Customer
Behavior
(Transactions,
Engagement)
Business
Performance

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Structural Equation Models
Used to Estimate Linkages
Customer
Perceptions
Information
Ticketing
Rides
Lines
Food
Grounds
Entertainment
Operational Metrics
Information
Ticketing
Rides
Lines
Food
Grounds
Entertainment
Return
Theme Park
Experience
Share of Wallet
Incremental people;
sooner (ticket revenue)
Incremental spending
on food, merchandise
(revenue)
Improve wait
time 5 minutes
Total cost to
improve
experience
NPV
Total incremental
revenue
Behavior Outcome Financial
Outcomes
5%
2%
10%
15%

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Touch-point Analytics
Identify Experience Improvement Initiatives
Loan Officer interaction and process improvement initiatives drive
$146M in incremental annual revenue for mortgage refinancer
Improvements in customer perceptions of Advocacy drives 15%
incremental market share for ISP
Improvements in service delivery drive $75M in incremental annual
revenue for mutual fund manufacturer
26 customer experience improvement initiatives drive incremental
$741M in revenue for an airline

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Analyzing and Taking Action on Real-Time VOC
Will Drive Positive Customer Experience
Aggregate Insights
 Identify unmet product and
service needs
 Identify experience pain
points
 Proactively identify potential
PR issues
Targeted Actions
 Send product offer to
specific individuals
 Inform specific customer
about fix of pain point
 Execute proactive save for
dissatisfied high-value
customers
Real-Time Big Data
Analytics Stack
Speech
Text
Machine Learning
Pattern Recognition
Trend Spotting
Log Analysis
+ CRM
Nick, 25 year
old gamer

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Ideation
Test and
Learn
VOC
Programs
Act
ActAnalyze
Sustained Value Generation
From Transformational Customer Experience
 Generate activation ideas
 Customer experience initiatives
 Experience process design
 Pilot initiatives in market
 Develop measurement plan
 Make go / no-go decisions
 Develop VOC strategy
 Develop VOC infrastructure
 Continuous learning process
Customer
Build
Foundation

18. Outside-in thinking
necessary to identify and
fix key pain points
Commit to listening and analyzing the Voice of your
Customer (VOC)
Summary
Leverage Big Data analytics to detect meaningful
signals in VOC

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Thank You
For questions, contact:
Niren Sirohi, Ph.D.
VP, Predictive Analytics
nsirohi@iKnowtion.com
781-494-9989 x201