Predictive analytics are making a strong push as a tool for anticipating, analyzing, and fulfilling customer demands. The ability to resolve potential issues before they arise is an enormous step in improving customer experience. As the predictive analysis trend continues to gain steam, CX solution provider InMoment is the latest to throw their hat into the ring. Through collaboration with RapidMiner, InMoment’s VoC solution is set to receive a huge boost in its ability to analyze consumer behavior across industries.
Speed is a top consideration in a world that has become increasingly connected, and the new partnership will enable InMoment clients to perform necessary analysis faster than ever before. Gaining insight into customer behavior, fraud, and sentiment is a crucial part of crafting a personalized customer experience, and companies need to remain agile in order to adjust quickly to evolving customer expectations.
“No other Voice of Customer vendor can offer this level of predictive analytics capability to their clients. This technology has been applied to many types of data in the past — including customer data,” Erich Dietz, VP of Strategic Partnerships at InMoment told Loyalty360. “However, this is the first time brands can run predictive models that include VoC data in a timely and comprehensive way. The clients who’ve pioneered this new capability agree that the two most powerful benefits they’re seeing so far are speed-to-insight, and understanding the WHY behind the WHAT inside insights. Understanding WHY these elements are so impactful delivers exponentially more actionability. We can now help brands move beyond react-and-repair mode, and empower them with highly accurate, detailed findings that inform prevention, and even more importantly, the proactive creation of experiences that build high-value customer relationships.”
Among the first brands to implement the new InMoment platform is maurices, a women’s retail chain with stores across the U.S. and Canada.
“By applying the RapidMiner Predictive Analytics Platform to the Voice of Customer (VoC) feedback InMoment gathers for us, as well as structured customer attribute data, we have been able to consistently predict with about 80% accuracy whether a customer is likely to become a repeat customer,” said Kristin Anderson, AVP of Customer Insights at maurices. “The insights tell us which elements of our customers’ experiences encourage or get in the way of a long-term relationship with our brand. With that information, we know exactly where and how to invest resources to both fix problems, and proactively create environments that build loyalty over time.”