Customer Relationship Management (CRM)

Framed Data Gets Funding Round To Further Goal Of Helping Businesses Stop Customer Churn

framedataWant to keep your high-risk customers from heading out the door? Well, Framed Data wants to give you a hand.

The company, which today announced that it has raised $2 million from Google Ventures, Innovation Works, Jotter, and NYU Innovation Fund as well as a number of angels, applies machine learning to ending subscription churn. It’s focused especially on B2B SaaS companies, uncovering less than obvious behavioral traits of churned users and applying that knowledge for future use, says director of marketing Tim Wu.

“Churn is the biggest pain we can tackle,” he says, providing the company a way to distinguish itself in an increasingly commoditized data analytics space. And in the B2B SaaS market, “the lifetime value of customers is really clear – they know that if customers leave, they lose x dollars.”

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How To Improve Self-Service Support

steponeStepOne’s first product, Contextual Care, is a contextually-based recommendation engine designed to help a company’s customers service themselves online. It leads them to the information they need in realtime based on factors such as applying what a company knows about a customer to predicting the question he might ask; matching content to the question based on machine learning algorithms; and getting smarter about doing that by continuously learning through customer interactions.

It became clear to StepOne as it deployed this product with its clients that in many cases, the clients first needed to have a higher definition view of their self-service content to make the best calls for their customers. Now, it’s debuting Care Profiler, a diagnostic tool to help clients assess the quality of their self-service support libraries and boost them to better address customer issues.

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How To Really Hear The Voice of the Customer

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Image courtesy: https://www.flickr.com/photos/carbonnyc/

There’s a whole lot of customer information out there, including the verbatim comments companies record as part of customer call center surveys or other voice-based interactions. At Verizon Wireless, for example, more than 190 million customers call in daily, weekly and monthly, and sound bites from them during after-call surveys, each a few seconds long, added up to about a ton of data that wasn’t being factored into its customer analytics efforts.

“We had the information, the WAV files, but we couldn’t analyze them with the same lens and same tools” Verizon was bringing to the text – emails, social media, surveys, and so on – commentary from its customers, according to Lorraine Schumacher, Director of Operations Customer Business Intelligence at Verizon, during a recent webinar hosted by customer experience management vendor Clarabridge. Verizon had been using Clarabridge’s technology to monitor its various listening posts to drive strategic business decisions based on analyzing text and sentiment in social media and other sources.

Now, it saw an opportunity to transcribe its WAV files of direct customer feedback so that the information in them could be processed and analyzed to support those same ends. Speech recognition and analytics vendor Voci Technologies partnered with Clarabridge to support those goals.

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Improving Customer Security with Machine Learning

2294144289_a54db90ac5_nRick Delgado recently wrote on Mike2.0, “When you get right down to it, computer security is all about being able to analyze the data. A company’s security is largely dependent on the amount of data analysis they’re capable of, along with the quality of that data. A company that can collect a lot of data at once but doesn’t have the means to analyze it properly for threats won’t get very far. The same goes for a business with excellent analytic tools but without the resources to gather and store that information. These facts are very important because without a lot of data, machine learning simply can’t be as effective.” Read more

How GS1 is Shaping eCommerce in the Semantic Web

gs1Andrew Osborne, CTO of GS1 UK recently shared an overview of how the non-profit is leveraging the Semantic Web to improve customer experiences. He writes, “For those of you unfamiliar with what GS1 actually does, we are a not-for-profit standards development organisation. Put simply, our role is to define data structures and how these are used to identify things, a role we have been performing since the 1970s. We provide a series of ‘keys’ for industry which identify various types of entity (products, locations, assets and so on) and which have highly developed allocation rules. We have also defined product attributes for bar coding (the application identifier standards), have over 1,000 product attributes defined for synchronisation in the Global Data Synchronisation Network and an extensive Global Product Classification that is used to categorise products. For visibility systems we have a standard ‘Core Business Vocabulary.’ “ Read more

Zendesk Gains Some Machine Learning from Wise.io

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Eric Blattberg of VentureBeat reports, “Zendesk, Wall Street’s latest technology darling, has soaked up some machine learning smarts courtesy of the nerds at Wise.io. Zendesk, the newly public help-desk company, now integrates with Wise.io, the latter’s chief technology officer Joshua Bloom announced on-stage at VentureBeat’s DataBeat conference today. Wise.io is a machine-learning technology that helps businesses identify important events in their data. Equipped with Wise.io’s artificial intelligence tech, Zendesk customers will be able to focus their human resources on the problems that really require human support reps, automating as much of the other stuff as possible.” Read more

Vertical Search Works Unveils FeaturePlay, New Content Discovery Platform

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NEW YORK–(BUSINESS WIRE)–Top search technology company Vertical Search Works (VSW) today announced the launch of FeaturePlay, a brand new content discovery platform powered by VSW’s proprietary semantic search technology, which recommends articles, photos, and videos related to users’ interests. The FeaturePlay widget embeds into a publisher’s website and uses semantic technology to showcase the most relevant content, saving visitors from having to explicitly search for it. Whether users’ interests lay in pop culture, sports, travel, food, health, or interior design, FeaturePlay helps to establish greater value for consumers, which results in more revenue for publishers. Read more

Gain Sentiment And Contact Insights With SAP’s Social Contact Intelligence Analytic App

SAP AG last week released its SAP Social Contact Intelligence analytic application that’s aimed at helping businesses unlock sentiment and contact insights from both social media channels and internal, company-owned sources. The new solution is powered by HANA, the company’s in-memory platform for accelerating analytics and applications.

According to SAP, Social Contact Intelligence lets marketing professionals incorporate social sentiment insights directly into their campaigns to more easily identify and target prospects and influencers and help drive incremental sales. The vendor also says that  sales pros can use it to gain deeper insights into customers in order to quickly identify the most influential and relevant contacts at an account. Service professionals, it says, can analyze product and service complaints from social channels to proactively identify trouble spots and take preventive measures.

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Data Integration is Key for Improving Customer Experience

One of the more prominent application areas for semantic technology, particularly in the ever-evolving world of Big Data, is data integration. Randy Heffner of Computer World UK recently published an article that discusses how effective data integration improves digital customer experiences and the role semantic analysis plays in that process. The article states, “Today, continual experience optimisation is… difficult because of: (1) Multiple interaction channels. You must collect, correlate, and analyze data in a coherent way across multiple channels of customer interaction. A single customer interaction may cross between channels or even use more than one channel at the same time. (2) Many back end servers. You must integrate data from multiple back end servers including recommendation engines, commerce, mobile application servers, digital asset management, community, collaboration, messaging, and more. (3) The need for rapid change. You must quickly change any or all of your digital experiences and back end services based on what you’ve learned. (4) The need for contextual experiences. You must use each individual customer’s context to dynamically adjust experiences in real-time.” Read more

IntelliResponse Launches VOICES, Bringing Breakthrough VOC Technology to Digital Customer Service

TORONTO–(Marketwired – Jun 25, 2013) – IntelliResponse, the leading provider of virtual agent technology solutions for the enterprise, today announced the launch of VOICES, the first and only Voice of the Customer technology designed to help enterprises visualize and derive actionable insight from customer questions posed on digital channels. This breakthrough tool captures and automates authentic “Voice of the Customer” data from client interactions across web, mobile, agent and social channels and transforms it into a collection of easy-to-digest customer insights. These insights can be accessed in real-time to enable faster, more informed decision-making and communication with customers. Read more

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