Unlock the hidden value in your data to find answers, monitor trends and discover patterns. Watson Discovery is the world’s most advanced, cloud-native, data insights engine.
In the world of customer experience (CX), small improvements can yield big dividends. A simple 1% improvement in first call response, can save hundreds of thousands of dollars in an average call centre’s operational costs. American Express reports that 1 happy customer can deliver as many as 9 referrals for new business.
The market is shifting and customer expectations are increasing. Fuelled by competitive pressure, CX is quickly becoming the key market differentiator. By 2020, nearly 9 out of 10 businesses are expected to compete primarily on customer experience. Standing in the way is just one thing: archaic systems. Nearly 80% of businesses say their current customer service systems won’t meet their future needs.
Chatbots are increasingly being fuelled by AI, and are changing how customers engage with businesses. Firms must also take steps to exploit the dark data they already have. This is data that traditional data analytic systems can’t access and use. According to Forbes, nearly 80% of businesses are essentially blind to what’s happening across their unstructured data.
Think of it as a ‘databerg’. In most organizations, only the very tip of the vast amount of data available to an enterprise is visible, and therefore used. Traditional CX data systems classify and organize data for streamlined reporting. This often leads to an oversimplification of complex customer interactions, and essentially leaves qualitative data unexamined.
Another challenge enterprises often face is that vast amounts of data are spread across the company. This data resides in disparate and often obscure databases, across different digital platforms. Organized according to different competing priorities, enterprise content often includes a huge variety of data types. This includes complaints, product ratings, NPS scores, sales and call logs, verbatims, letters, news / blogs, social media and more.
Watson is literally a game-changer. With Watson Discovery, you apply an insight engine to your customer data. In a matter of weeks, you can produce specific analyses that literally flip ‘databergs’ and brings the value of hidden data to the surface.
See how IBM Discovery can help your business turn dark or unstructured data, into actionable business insights. Check out the demo here.