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NICE Introduces Customer Engagement Analytics, The Industry's First Platform To Combine Interaction Analytics And Transaction Analytics

Stocks in this article: NICE

RA'ANANA, Israel, April 22, 2013 /PRNewswire/ --

NICE Systems (NASDAQ: NICE) today announced the introduction of its Customer Engagement Analytics platform, the industry's first to combine interaction and transaction analytics. The platform allows organizations to capture and analyze Big Data generated by cross-channel customer engagement and map the entire customer journey. This brings organizations closer to their customers by enabling them to better understand customer preferences and behaviors.

"The complexity of the relationship between consumers and enterprises continues to increase due to the endless amount of customer engagement data. But underneath all this data lies a wealth of information from which great business value can be realized," said Keith Dawson, Principal Analyst at Ovum. "The challenge in uncovering the value is twofold. First, all of this data must be captured, connected, and analyzed across touch points. Then, using the insights generated from this analysis, the organization must make this information actionable."

The NICE Customer Engagement Analytics platform delivers a complete picture of the customer journey, both at the individual level by various groups and segments, and at the entire customer base level. This helps an organization provide outstanding customer experience while improving business procedures and efficiency. The offering features the following advanced technologies:

  • Multi-channel collection of Big Data - The system collects data from customer interactions and transactions across various data sources, such as web, email, phone, social media and chats, and from different systems such as CRM and billing. It also pre-processes the raw data for more efficient analysis.
  • Analyzing Big Data - NICE's analytics engine can interpret mass amounts of both structured and unstructured data, allowing organizations to perform customer journey mapping and visualization as well as repeat contact sequencing and trends.
  • Operationalizing Big Data  - The insights extracted from the analytics of data serve as a catalyst for change within an organization, such as company-wide changes in business policies and processes, as well as more specific actions including agent coaching and guidance.

The first solution to be launched on the Customer Engagement Analytics platform is Call Volume Reduction, while additional solutions, such as sales optimization and voice of the customer are expected for release in the near future.  

For example in the case of call volume reduction, a telco may discover that a large percentage of customers who purchased a new smartphone at a specific retail branch called the customer service line within 72 hours to activate a corresponding e-mail account. Based on this insight, the telco can guide customer-facing employees at the branch in real time to follow policy and offer help setting up the e-mail during the initial purchase. It can also provide targeted coaching for specific agents that may need to overcome knowledge gaps. By recognizing this trend, and proactively implementing a solution, the telco will be able to significantly reduce call volume, minimize customer effort, and boost satisfaction.

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