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Rapid Deployment of Customer Next Best Action

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Automated next best action decisions deliver 1:1 marketing and customer centricity to maximize the value of your customers.

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Rapid Deployment of Customer Next Best Action

  1. 1. @jamet123 #decisionmgt © 2017 Decision Management Solutions James Taylor, CEO Rapid Deployment of Customer Next Best Action
  2. 2. @jamet123 #decisionmgt © 2017 Decision Management Solutions 6 Your Goals ▶ Deliver 1:1 marketing and customer centricity ▶ Maximize the value of your customers ▶ By building a customer next best action solution
  3. 3. @jamet123 #decisionmgt © 2017 Decision Management Solutions 7 This Webinar Will Help You ▶ Learn the key elements of next best action solutions ▶ So you can build a shared vision at your company ▶ See the steps that have helped others succeed ▶ So you can get a successful implementation quickly
  4. 4. @jamet123 #decisionmgt © 2017 Decision Management Solutions 8 A Real Example: From Dream To Wow Integrate And Deploy Integrate into production data infrastructure Complete results capture and review Test and roll-out Finalize Decision Service Complete decision model Add remaining business rules and analytics QA, test and simulate Demonstrate Approach Develop test and simulation data Integrate with demo environment Show potential Iterate And Integrate Extend top-down decision model Add business rules to decisions Add analytics to decisions Develop Initial Decision Models Conduct decision discovery Analyze existing materials Identify decisions in existing systems
  5. 5. @jamet123 #decisionmgt © 2017 Decision Management Solutions 9 Key To Success: Decisions First ▶ Customer Next Best Action is all about decisions ▶ What to say ▶ When to say it ▶ Where to say it ▶ To succeed, think first about the decisions ▶ Not channels ▶ Not data ▶ Not analytics ▶ Not rules
  6. 6. @jamet123 #decisionmgt © 2017 Decision Management Solutions 10 1. Find the key decisions What decisions matter in your customer’s journey? 2. Model these decisions Decision models rapidly show how to maximize customer value 3. Create business rules Define these decisions so they are easy to manage, easy to change 4. Use your customer data Use analytics and machine learning to improve your decisions 5. Package as decision services So you can deliver the best action with cross-channel precision 6. Close the loop So you can deliver continuous improvement A Plan Of Action
  7. 7. @jamet123 #decisionmgt © 2017 Decision Management Solutions 11 1. Find The Key Decisions
  8. 8. @jamet123 #decisionmgt © 2017 Decision Management Solutions 12 Find The Decisions That Matter In Your Customer Journey ▶ Customer journeys ▶ Are all different ▶ Are multi-channel ▶ Should be customized ▶ Decisions happen in every channel at every stage ▶ Find a Decision ▶ Pick a Decision
  9. 9. @jamet123 #decisionmgt © 2017 Decision Management Solutions 13 Micro Decisions: Target With Customer-specific Decisions “Every time you decide what action to take for a customer, make that Next Best Action decision be unique to that customer”
  10. 10. @jamet123 #decisionmgt © 2017 Decision Management Solutions 14 2. Model These Decisions
  11. 11. @jamet123 #decisionmgt © 2017 Decision Management Solutions 15 Decision Models Define Decision Making ▶ Be precise about the decision ▶ Document the components of decision-making ▶ Data ▶ Knowledge ▶ Sub-decisions ▶ Link these decisions to your business
  12. 12. @jamet123 #decisionmgt © 2017 Decision Management Solutions 16 Decision Models Show How To Make the Right Decision Cross-channel Decision Channel Specific Decision Data, Knowledge Required Mechanics of Best Action Selection Data, Knowledge Required
  13. 13. @jamet123 #decisionmgt © 2017 Decision Management Solutions 17 Experience Using Decision Modeling It’s Rapid • Much faster than traditional approaches • 1 hour “that would have taken 10” It’s Engaging • Business SMEs participate more fully • And free up time to participate more It’s Enlightening • Clarifies real requirements • Even experienced SMEs learn something It’s Open • Human and automated decisions • Any kind of data, any kind of decision
  14. 14. @jamet123 #decisionmgt © 2017 Decision Management Solutions 18 3. Create Business Rules
  15. 15. @jamet123 #decisionmgt © 2017 Decision Management Solutions 19 Use Business Rules To Define Decisions So They Are Easy To Manage And Change Expressive Graphical Manage Complexity Web-based Managed Business and IT Collaborate Controlled Clear Impact Safe Agility
  16. 16. @jamet123 #decisionmgt © 2017 Decision Management Solutions 20 Business Rules: Fundamental To Decisions Business Rules are Total Number of Orders Most Recent Order Total Orders last 12 months Lifetime Order Total Customer Status >= 5 < 90 days > $10,000 Gold >=10 < 180 days > $20,000 Gold >= 20 < 360 days > $40,000 Gold < 180 days > $1,000,000 Gold > $2,000,000 Gold “ ” Statements of the actions you should take when certain business conditions are true.
  17. 17. @jamet123 #decisionmgt © 2017 Decision Management Solutions 21 Decision Models + Business Rules Business Empowerment, Safe Agility ▶ Decision models define customer treatment ▶ Quick to define each piece with simple business rules ▶ Bonus: Makes it safe and easy to change them ▶ When competitors change ▶ When markets change ▶ When product change ▶ When customers change ▶ …
  18. 18. @jamet123 #decisionmgt © 2017 Decision Management Solutions 22 4. Use Your Customer Data
  19. 19. @jamet123 #decisionmgt © 2017 Decision Management Solutions 23 Use Analytics To Target Customers ▶ Analytics, Machine Learning, AI ▶ Data-driven customer insight Confirm Expertise Discover Patterns Identify Segments Predict Trends
  20. 20. @jamet123 #decisionmgt © 2017 Decision Management Solutions 24 Focus On Decisions Focus Analytics On The Business Problem ▶ We need to be more customer-centric ▶ Which means making this Next Best Action decision more accurately ▶ Which will require these analytics ▶ Which can be built from this (Big) data
  21. 21. @jamet123 #decisionmgt © 2017 Decision Management Solutions 25 5. Package As Decision Services
  22. 22. @jamet123 #decisionmgt © 2017 Decision Management Solutions 26 External Data Big Data Business Rules Continuous Improvement ▶ Customers use multiple channels ▶ A common service suggests actions ▶ Using business rules and analytics/AI in combination ▶ These are continuously improved ▶ Managed by a decision model ▶ Automated with business rules ▶ Embedding analytics, AI Analytics and AI Decision Services Deliver Next Best Action Across All Channels Using Rules & Analytics
  23. 23. @jamet123 #decisionmgt © 2017 Decision Management Solutions 27 6. Close The Loop
  24. 24. @jamet123 #decisionmgt © 2017 Decision Management Solutions 28 Link Business Goals to Decisions Rapidly Find What You Need To Change Improve Cross-Sell A Total Number of Orders Most Recent Order Total Orders last 12 months Lifetime Order Total Customer Status 1 >= 5 < 90 days > $10,000 - Gold 2 >=10 < 180 days > $20,000 - Gold 3 >= 20 < 360 days > $40,000 - Gold 4 - < 180 days - > $1,000,000 Gold 5 - - - > $2,000,000 Gold Customer Value Determination
  25. 25. @jamet123 #decisionmgt © 2017 Decision Management Solutions 29 Analyze Decision Effectiveness See When You Should Change Decision Made Supporting Decisions Scores Business Results
  26. 26. @jamet123 #decisionmgt © 2017 Decision Management Solutions 30 SUMMARY ▶ Key Elements In Next Best Action ▶ Business rules to define behavior ▶ Advanced analytics to deliver insight ▶ Decision monitoring to manage, improve ▶ A decision model to pull it all together ▶ Steps To Success ▶ Begin with Decisions ▶ Model them ▶ Implement them ▶ Improve them
  27. 27. @jamet123 #decisionmgt © 2017 Decision Management Solutions 31 Your Questions ▶ James Taylor, CEO ▶ james@decisionmanagementsolutions.com ▶ +1 650 400 3029 ▶ @jamet123 Enter questions for the Q&A here
  28. 28. @jamet123 #decisionmgt © 2017 Decision Management Solutions 32 Thank You ▶ More resources for success with Customer Next Best Action ▶ http://bit.ly/DMSCNBA Decision Management Solutions works with clients to improve their business by applying business rules & analytic technology to automate & improve decisions We can help you rapidly design and build a custom next best action solution for your business.

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