NICE Introduces Customer Engagement Analytics, Industry’s First Platform to Combine Interaction Analytics & Transaction Analytics

I came across the press release from the people of Nice.   I found it very interesting to read, as they seem to understand the customer, and therefore have found a way for businesses to understand their customers too. 

NICE’s Big Data platform offers insights into the complete cross-channel customer journey, which can be leveraged by organizations for multiple business initiatives

ICE 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 ofcall 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.

“Every customer journey provides a wealth of information about the individual and the service organization that can be harnessed for better business results,” said Yochai Rozenblat, President of the NICE Customer Interactions Group. “Our Big Data analytics platform provides organizations with the right tools and technologies to help them improve business performance. By delivering insights from the vast amount of data collected across interactions and transactions, our platform empowers organizations to better understand customers and their needs and to operationalize these insights in order to provide an exceptional customer experience.”

About NICE Systems

NICE Systems (NASDAQ: NICE) is the worldwide leading provider of software solutions that enable organizations to take the next best action in order to improve customer experience and business results, ensure compliance, fight financial crime, and safeguard people and assets. NICE’s solutions empower organizations to capture, analyze, and apply, in real time, insights from both structured and unstructured Big Data. This data comes from multiple sources, including phone calls, mobile apps, emails, chat, social media, video, and transactions. NICE solutions are used by over 25,000 organizations in more than 150 countries, including over 80 of the Fortune 100 companies.




is Specialist in Customer Success and chief writer and editor of I Want It Now, a blog for Customer Service Experts. Follow her @StefWalkMe