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Cloud-based customer experience optimization platform InMoment today announced that it has teamed up with predictive analytics platform RapidMiner. The partnership will combine InMoment’s Voice of the Customer solution with RapidMiner’s Predictive Analytics Platform to optimize customer and business insights.
InMoment’s Voice of the Customer platform synthesizes customers’ stories to deliver new insights to businesses through alerts, reports, dashboards, and mobile apps. One of the solution’s key components is Location-Based Stories, which enables enterprises to interact with customers at individual locations. RapidMiner, which can run on all major operating systems, adds open source predictive analytics with features such as 3-D graphs, scatter matrices, and self-organizing maps. The combination of the two solutions aims to help businesses predict customers’ preferences proactively, as opposed to simply reacting to customer feedback.
InMoment’s CEO, John Sperry, amplifed the partnership’s focus in a statement:
“More organizations are listening to and taking action on customer feedback than ever before. Prior to today’s announcement, businesses primarily had visibility into the rearview mirror, which left them few options but to wait to hear how customers felt about their experiences, and then react. Our partnership with RapidMiner gives them the ability to anticipate customer needs, and act even more strategically. Not only will businesses be able to prevent problems, they’ll also be able to anticipate and address customer needs to forge even stronger, more profitable relationships.”
Erich Dietz, vice president of strategic partnerships at InMoment, detailed how the two systems will work together. “InMoment is the feedback collection mechanism and the data integration engine that is pulling all of this information inside,” Dietz says. “The utilization of RapidMiner is to funnel those data sets, both structure and unstructured…through RapidMiner and calculate propensity.
“The propensity to do what is very client-dependent, and there can be 75 different outcomes we’re trying to predict, but at a basic integration level, InMoment is assembling the data set using RapidMiner as a processor to calculate the propensity of business outcomes.”
Women’s clothing retail chain maurices is one of the first organizations to implement the new system. Kristin Anderson, AVP of customer insights at maurices, praised the system in a statement:
“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 percent accuracy whether a customer is likely to become a repeat customer.”
Anderson added that the insights enabled maurices to determine which parts of the customer experience were beneficial toward building a long-term relationship, and which were detrimental.
“We’re talking about factoring in the VoC data, which is the ‘why’—why the customers do what they do, why they feel the way they feel—adding that…has really driven a massive increase in the business impact that we can have,” Dietz says. “It’s fundamentally changing the way VoC, with this predictive capability, can be used to support so many different areas of the business. This is a much more business-outcome focused advancement.”