Sometimes it's the journey that teaches you the most about your destination. The customer journey speaks volumes about the paths that lead customers to exceptional experiences or problematic outcomes. This sentiment certainly rings true for Western Union's recent implementation of NICE Nexidia's Customer Journey Analytics to ensure a frictionless payments experience for their customers.
Journey analytics stitch together all customer interactions to understand the customer experience across multiple channels and over time. It provides insight into how and why customers behave the way they do. Here are 3 ways that organizations are utilizing journey analytics to make customer experience analysis easier and more efficient:
- faster and more insightful decision making
- optimal use of valuable resources
- reduced time spent on data analysis
1. Decreased Time to Insight
Data silos represent one of the biggest hurdles to understanding the customer experience. Many organizations struggle with the challenge of connecting customer data across various departments and different IT systems. Recent research from Forbes reveals that 87% of executives are not confident they are leveraging all available customer data. (Forbes, 2018)
Journey analytics connect all customer-related data across every touchpoint to create an accurate picture of the full experience. As a result, analysts spend less time on data management and focus more of their efforts on data analysis, accelerating the time to insight. When integrated with AI (artificial intelligence), customer journey analytics automatically uncover key insights, significantly decreasing the time it takes to discover the reasons behind problematic journeys.
2. Democratization of Analysis
As with most organizations, limiting the analysis to a few data scientists with the technical expertise to solve complex problems has become the norm. Competitive pressures to deliver data-driven insights have increased the value of their importance to the organization. However, this approach often creates a bottleneck in data analysis when you consider the size and speed at which data moves today.
Customer journey analytics open a gateway to your data by allowing less technically "savvy" business users to also uncover journey insights. With an intuitive UI (user interface), business users need little to no technical knowledge to interact with the generated journey visualizations. The benefits of using journey analytics to democratize data are far-reaching:
3. Omnichannel Analysis
Customer journey analytics compare experiences across all transaction channels, such as traditional brick-and-mortar locations, desktop websites, or mobile applications. This omnichannel approach to improving customer experience allows organizations to find the most significant drivers of customer effort, such as repeat steps or calls, high channel duration, and dropped journeys. An omnichannel perspective allows organizations to understand which journeys lead to negative outcomes and have the greatest impact on customer experience.
Read the full case study here to understand how NICE Nexidia uses customer journey analytics to help Western Union maximize retention and improve customer experience, or visit our webpage.
