CX DICTIONARY

What is Predictive Analytics?

Predictive Analytics is the application of math and statistics to data mining in order to predict what will happen in the future.

Why is Predictive Analytics important?

Predictive analytics allows businesses to predict future customer behavior by looking at past data and trends. Purchase history, customer service interactions, and demographics (to name a few) can predict customer churn, potential next purchases, and customer lifetime values.

Predictive analytics becomes more real when you bring in the true voice of the customer to detect sentiment. To do this, businesses must analyze data from all feedback channels, including surveys, social media, service calls, and more.

How does Clarabridge improve Predictive Analytics?

Clarabridge uniquely combines qualitative, free-form feedback with quantitative data about past behaviors and trends in order to predict future customer behavior.

First, we uncover trends in buying, loyalty, and overall experience at the product, store, and user level. Then we bring this data together, alerting you to issues before they become viral and while they are still controllable.

Predictive models uncover areas to accentuate and those that require improvement. By combining this intelligence with root cause analysis, marketing, operations, and customer care teams can easily identify areas of focus that will drive continually improved customer experiences.

Marketing teams uncover the best future promotions and predict customer loyalty.

Operations teams determine the next best action for front-line staff in stores and at the call center, helping to keep staff and customers informed and happy.

Customer care teams determine how to best handle individuals while finding the most economical and efficient path to great customer service.

Related Resources

Omni-Channel Customer Effort Analysis

If you’re going to design your CX programs around effortless experiences, you should also leverage emotion and effort in your analyses! Join us to learn more about why emotion and effort matter, the tools that Clarabridge offers to analyze them in customer feedback and how to communicate emotion and effort based insights to your skeptical stakeholders.

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