Anomaly detection is a technique now being leveraged to spot abnormal behavior in datasets – it is about identifying rare observations that stand out from normal observations. Anomaly detection in credit card transactions, spotting anomalous behavior to thwart cyber-attacks, detecting faults with regards to mechanical components, identifying fraudulent healthcare claims are some areas magnifying [...]
Customer Segmentation in banking is now more about gaining nuanced insights by using different viewpoints to understand the customer. And as personalization and enriched customer experience have turned into a banking requisite, banking customer segmentation looks beyond the standard demography and geography with the scope now stretching across attitudes, behaviors, lifestyle, interests and preferences. [...]
There’s a bridge between knowing what customers want in advance and accomplishing it – customer behavior analytics. Behavioral insights equip the line of action intended to create personalized customer experience. Customer behavior analytics offers the sought customer wisdom – what customers bought, when, how they bought, how often they buy, what channel they use [...]
Every now and then, there is a fraudulent activity masquerading as the original – no exception to the business world. And if fraud detection is about dealing with smokes and mirrors with barely any room for errors, then Machine learning and AI have grown into reckoned technology forces giving enterprises the hope of clearing [...]
There is a constant retail hunt to seek new ways to transform customer experience. With Artificial Intelligence in Retail, Augmented Reality and Machine Learning proving transformational in terms of promoting enriching customer experience, the promise of using AI in retail and most-modern technologies to ensure an ‘intelligent retail’ leads to enriching customer experiences is not [...]
Banks and Market Basket Analysis can make up for an alluring pair. And ‘pairing of ‘products or service offerings’ raises in context when financial institutions want to dig deeper into the product-customer connection to serve the customer better, maximize value from targeted marketing and promote personalized experience. In addition to the association unearthed between [...]
A retail scenario that one would dare to confront - A product is whisked away without being scanned at the counter; a merchandise is given without being charged; and a mal-intentioned individual goes scot free after returning a product (no rhyme or reason to return the product) and discounts are being given to transactions [...]
Buyer persona gives that edge every organization needs to chase their coveted goals in terms of increased lead capturing, successful selling, better buyer experience, increased buyer retention and loyalty. In short, creating buyer persona is about gaining a comprehensive understanding of the customer – likes, preferences, demand, need, behaviors, dislikes, motivations and values – [...]
Data driving decisions, actions and outcomes is no more a moot point. Rather, organizations are more focused on using the right techniques, methods, processes, and tools to streamline the data-to-decision journey. Organizations that understand and overcome data and analytics challenges are the ones that will reap profitable rewards from their analytics initiatives, enable revenue [...]
Great employee experiences precede great business results. Every organization now has two ‘Experience Engines’ running in parallel – where customer experience is of utmost importance to keep the business ticking, it is the employee experience that ought to be tracked, nurtured and enhanced to drive great customer experiences and let the business thrive on customer [...]
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