Feet in the cloud; Experience in the sky: Laying foundations for data-driven customer experience

In highly commoditized industries like telecommunications and financial services – where products and services from competing providers are often similar – customer experience (CX) is the ultimate differentiator #Sponsored.

Partner Content by Mark Burnard, Global Service Line Owner – Data and Intelligence

June 4, 2024

4 Min Read

In highly commoditized industries like telecommunications and financial services – where products and services from competing providers are often similar – customer experience (CX) is the ultimate differentiator.

But creating a differentiated customer experience requires more than just a slick user interface. Experiences must be intentional, personalized and predictive. You need to support use cases like next best experience for each individual customer; intentional and predictive customer journeys tailored to personal preferences and behaviors; proactive remediation of customer journeys; churn prediction; resolution of experience issues in real time, and more.

Democratizing access to sophisticated CX

In the past, these CX benefits were only available to large enterprises with deep pockets that could set up their own on-prem advanced data platforms. But for small or medium enterprises, the cost of that infrastructure was prohibitive.

Now, with the flexibility of the cloud and the advances in AI and GenAI, even small organizations can access these capabilities. Furthermore, the advent of GenAI can further enrich a customer’s experience with new and improved potential in areas like real-time customer segmentation (“segment of one”), sentiment analysis, chatbots that can automate customer care conversations and more.

Building the right foundation

Data is the foundation of a differentiated CX. To achieve this, you need an integrated view of data from all relevant sources – customer databases, cross-channel interactions, network performance, marketing campaigns, and more – creating not just a 360-degree view of the customer but also real-time insights into their interactions.

Yet, when it comes to data quality, the situation is far from ideal. For analytics to provide true value, you first need to identify and curate the most relevant data. Then, you need to enrich it and make it accessible to the AI, ML, and GenAI tooling that you’re running on top of your data platform. Unfortunately, though, organizational data is often limited; it may be partial, outdated, corrupted or siloed.

In addition, as you process your data, you still need to address the usual challenges like ensuring data security, privacy and compliance – particularly in the case of regulated industries such as financial services, telecommunications, healthcare, and any organization handling PII (personally identifiable information).

Why Cloud?

The cloud is the natural platform for complex data analytics and GenAI-based applications, thanks to its elasticity and the “pay as you use” model. Managing data on the cloud provides the scale, flexibility, global reach, performance, automation, and advanced analytics tooling to manage and process the large amounts of data and conduct deep analysis. This is essential to uncovering the valuable data-driven business insights you seek. Where real-time insights are required, such as in global organizations with distributed environments or real-time applications, you can also incorporate low-latency computing at the edge in your technology mix.

How to achieve experience excellence

Putting together the cloud and data platforms and technologies to optimize for customer experience is a complex challenge. It requires a wide set of skills and expertise spanning cloud, data, AI/ML, GenAI, and of course understanding of customer journeys and customer experience. Often, these areas in an enterprise can be very siloed, creating challenges of collaboration, as very few have skills in all three areas.

Further, you must plan, provision, and operate your solution while minimizing costs and ensuring ROI. And, of course, there is no “one-size-fits-all” approach. Each enterprise has its own unique needs and challenges.

This is where Amdocs can help. Amdocs has deep, proven experience in optimizing for cloud, maximizing the value of data, and driving enterprise-impacting CX transformations.

We are not only masters of the technology; we also help construct the business processes to activate the deep analysis and valuable insights you need to drive your business. We help design, implement and operate your cloud, data and CX solution while ensuring regulatory compliance, minimizing costs and optimizing return on investment.

Amdocs can help make your organization not only customer-centric and data-centric but empower you to unlock new levels of customer understanding and engagement, and deliver the data-driven differentiated, customer experience to open up new revenue streams, enhance customer loyalty and increase customer life-time value. For more information click here

About the Author(s)

Partner Content by Mark Burnard

Global Service Line Owner – Data and Intelligence, Amdocs Cloud

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