Next Best Action (NBA)
Problem
- It is difficult to provide customer satisfaction without the information what do they need most
- Non-personalized communication is less effective and costly
- Abundance of unused data
- Focusing on products rather than customers’ needs
Action
- Created a next best action (NBA) model which provides personalized product recommendation based on customer’s past behavior
- Channel personalization instead of single-channel or disparate communication
- Providing key information to customer representative to offer the correct products and services
- Offering right product to the right customer, at the right time and through the right channel
8
%Increased Sales
50
-200%Increase Return rate compared to traditional methods
15
%Reduce Communication Costs