data strategies: integrating data science into cx …...new data is added to the models customer...
TRANSCRIPT
CX NYC 2018
Gina Fleming
Jon Masland
Data Strategies: Integrating Data Science into CX Measurement
Sponsored by Oracle
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CX
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Great CX drives Loyalty and Growth
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Measuring CX is a critical competence required for success
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CX measurement should answer three key questions:
1. How good is our customer experience?
• Across the entire customer relationship as well as within
key customer journeys and at critical touchpoints
• Benchmarked relative to competitors / peers
2. What do we need to do to improve CX
quality?
• Understand what’s most important to customers and what
drives CX quality
• Understand how to prioritize initiatives to improve CX and
increase customer loyalty
3. How are we benefiting from our efforts?
• Understand the potential financial impact of improving CX
• Link CX metrics to desired business outcomes
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14% of CX pros say that their VOC is
extremely (3%) or very effective (11%) at
delivering financial results.
33% of CX pros say that their VoC is extremely
(6%) or very effective (27%) at driving action.
Source: Forrester State of Customer Experience Survey
But only....
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Demonstrate value & ROI
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Struggle to provide meaningful insights
Inability to drive meaningful organizational change
Inability to effectively handle organizational scale
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CX Measurement Architecture: A unifying and
coherent structure of key organizational metrics
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Why use a CX Measurement Architecture?
› Purpose: To understand the key drivers (interaction and perception) of customer
experience. To create linkages between customer experience and key outcomes (e.g.
account growth) to clearly show how CX contributes to the organization’s success.
› By leveraging this framework, you can adopt three key measurement traits:
Metrics that are rooted in
the customer life cycle
Metrics that inform
customer-obsessed
tradeoffs
Metrics that create a culture
of accountability and action
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› Inventory and codify metrics to identify and
close gaps in the measurement framework
› Links CX to business success – helps build the
case for CX transformation
› Helps steer CX improvements by identifying the
operational levers with the greatest impact on
CX and business outcomes
› Linkage analysis can enable you to use
interaction metrics as leading indicators (or
proxies) for CX
Value of CX Measurement Architecture
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Key components to a CX measurement architecture
Perception
What customers think happened
and how they feel about it (rational and
emotional)
Beacon/North Star
Where organizations point their CX
efforts because they are predictive of
Outcomes (CX Index®, NPS®, OSAT)
OutcomeWhat business result you expect from
what happened
InteractionObjective, observable events that
happened, i.e. “operational” metrics
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Collaborating with data science team can help close the loop on CX measurement
What surveys
measure
Perception
What customers think happened
and how they feel about it (rational and
emotional)
Beacon/North Star
Where organizations point their CX
efforts because they are predictive of
Outcomes (CX Index®, NPS®, OSAT)
OutcomeWhat business result you expect from
what happened
InteractionObjective, observable events that
happened, i.e. “operational” metrics
15© 2018 Forrester Research, Inc. Reproduction Prohibited
Collaborating with data science team can help close the loop on CX measurement
What layers in
with financial
and operational
data analysis
Perception
What customers think happened
and how they feel about it (rationaland
emotional)
Beacon/North Star
Where organizations point their CX
efforts because they are predictive of
Outcomes (CX Index®, NPS®, OSAT)
OutcomeWhat business result you expect from
what happened
InteractionObjective, observable events that
happened, i.e. “operational” metrics
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Financial Data
Finance team
Customer spending
Survey Data
Market
research or CX teams
Perception
Beacon metric
Operational Data
Sales teams or
IT teams
Customer support history
Website visitation
Customer Data
Demographics
Customer tenure
Purchase history
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Techniques
Simple Complex
Machine learning
that continually
improves upon as
new data is added
to the models
Customer
segmentation:
survey and
operational
data based
Customer
segmentation:
survey based
Regression
analysis linking
interaction,
perception and
outcome metrics
Visualize CX:
revenue
relationship
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Example: Visualize CX-Revenue relationship
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Masked client example
Example: Use transactional data to identify detractors
Recent share of wallet score
Tota
l in
dustr
y t
ransactions
Detractors High Risk Stable Loyal
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(Illustrative – masked client example)
Then model survey-based perception and beacon metrics to predict detraction
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Product equipment working correctly
Sales rep gave good explanation of equipment operation
Dealer followed up with me
NPS
Overall satisfaction
Country
Sales rep understands equipment needs
Knowledge of sales representative
Brand
Predictor importance
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Challenge
Getting access to data from
different parts of the organization.
Finding a common identifier, issues
with data quality and missing data.
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Shortcut
Instead of building a large and
complete model with all possible
data pieces, generate a profile of
profile promoters and detractors.
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Challenge
Difficult to get all data sources for
all customers integrated perfectly.
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Shortcut
Just get a sample—or start with
one customer segment.
Don’t integrate all of your data
points—just focus on what’s
important.
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Challenge
Have incomplete data to design the
best CX for every segment.
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Shortcut
Focus on creating the best
experiences for the most valuable
customers.
CX NYC 2018
Amy ShiojiVice President, Customer Experience & Insights, Gannett / USA TODAY NETWORK
CX NYC 2018
Sara Perelli-Minetti Director, Customer Intelligence, Capital One Bank
1. Moments that Matter
2. Customer Segmentation
3. Call Center KPIs & NPS
DRIVING CX IMPACTHow data science powers customer-centricity.
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Confidential
Moments that Matter
1. Are there certain experiences that have an
outsize impact on a customer’s perception of
their bank?
2. How are we doing on those experiences?
3. For each moment, what makes for a good or
bad customer experience?
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Feature importance ranking
Confidential
1. Who are our most financially valuable
customers?
2. Who are our most behaviorally desirable
customers?
3. What happens at the intersection of these two
things?
Customer Segmentation
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K-means clustering
Confidential
Call Center KPIs & NPS
1. What is the relationship between operational
KPIs at the call center and NPS?
2. Which elements of the call center customer
journey best predict likelihood to recommend?
3. Can we model call center NPS?
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Predictive modeling
Decision trees
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Questions