Companies need tools that intelligently apply big data analytics to help them better understand customer satisfaction. That’s why we launched the Teradata Aster customer satisfaction index (CSI) solution.
Since launching the solution, we’ve been lucky enough to speak to many customers, prospects, industry analysts and others about this new approach to CSI. There are a handful of questions that have come up several times, so Teradata Aster’s John Thuma and I recorded a short video to answer those questions. Below is an abbreviated transcript.
Q: What is the Teradata Aster customer satisfaction index, or CSI, solution?
The Teradata Aster CSI solution lets you calculate customer satisfaction scores across all touchpoints over the life of the customer to help prevent churn and improve loyalty. It incorporates several of Aster’s advanced analytic techniques, but it provides this power via an extremely intuitive guided user interface. And the CSI solution makes it easy to operationalize insights via integration with Teradata Aster AppCenter, business intelligence or BI tools, and connections to other systems such as marketing automation and CRM solutions.
Q: What is this guided development interface?
We understand that advanced analytics may sound like a scary proposition, so we’ve built a very intuitive guided development interface that lets you build really complex and powerful rules without ever writing a line of code or knowing anything about parallel programming or advanced statistics. Any analyst or business user who has a basic knowledge of the data set with which they are working – they can read the column names, know what they are referring to, and understand the values in those columns – can build these rules without any heavy lifting.
(Ed: There is a demo of the guided development interface in this on-demand webcast.)
Q: So this solution incorporates advanced analytic techniques, but it’s not for the data scientist. It’s actually for the businessperson. Is that correct?
Yes. If you’re familiar with Aster, we have a very extensive analytic library. We’re exposing that power to analysts and business users. In this case, with customer satisfaction, you’re going to be able to take advantage of things like nPath, sentiment analysis, behavioral clustering. You’re going to be able to take advantage of all those, but it’s pretty transparent to the user.
What you’re doing is creating a rule (in the guided development interface) that leverages those analytics behind the scense, rather than having to know how to write those analytic functions.
Q: How does the CSI solution compare to Net Promoter Score or other approaches to understanding customer satisfaction?
One of the more popular approaches is Net Promote Score, or NPS. But when you use a Net Promoter Score, you’re getting a snapshot of how an individual feels at that moment. You’re asking one question and getting a static response to that one question.
The Aster CSI solution is extremely dynamic and looks at all customer touchpoints, all events, all interactions – whether those are in-store, on your website, how someone engages with the product or service, what’s happening when they call into your customer support center. We’re able to look at all that data and see how scores evolve as people pass through these various touchpoints. With the Aster CSI solution, you have a very dynamic score that incorporates the entire customer journey and a score that changes with every interaction.
And because of some cool features we’ve built into the solution that we haven’t discussed, those scores also change because of what we call “memory effect” or the decrease of importance of emotional events over time. (Ed: A weakness of NPS is its inability to recognize how a recent event may have weighed into the emotions behind a given score.)
Q: Who would benefit from using the Aster CSI solution, and what’s the ROI?
We’ve seen a lot of traction and really great ROI in communications, consumer financial services, travel & hospitality, and automotive manufacturing. Really, any company that interacts with customers multiple times across many channels and wants to reduce churn or improve loyalty. Insurance and healthcare are two more areas where we expect this to take off.
ROI is going to depend on your customer lifetime value and the percentage that we are able to help you reduce churn by spotting issues earlier. But we’ve seen ROIs in the ten of millions for some companies in year one. So it’s very impressive and proving to be a good investment.
Q: That sounds great. What’s next for someone who wants to learn more?
If you’re a Teradata or Teradata Aster customer, contact your account executive. If you’re already using the AppCenter, it may be as simple as a services offering that will have you up and running in a few weeks.
If you’re starting from scratch, send me an email at firstname.lastname@example.org and I’ll share some additional resources and be happy to help you get started.
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