38 Insights & Analytics Leaders Share Their 2020 Predictions (Excerpts)

Originally published on Greenbook Blog

Several Entries by Mark Smith

  • Brands are going to put less effort into measuring Customer Experience as the leading way to gauge customer satisfaction and loyalty, opting instead to manage customer journeys. Customer experience is personalized, and the ways in which it’s measured — metrics like time on site, NPS, loyalty — are subjective and inferential. Those measurements will take a back seat to metrics that track personalization, context, and convenience across key touchpoints in the customer journey.
  • Customer Journey Measurement, as opposed to CX measurement, will increasingly enable brands to effectively gauge customer convenience. The ability to continuously identify sub-optimal interactions and drop-off points across customer journeys will determine the CX winners of 2020 and beyond.
  • The proliferation of channels will enable powerful new means of personalization. Technology keeps adding new channels and capabilities for brands to capture customer data, improve customer experience, and measure customer journeys. Eighty percent of consumers say technology should add value to brand interactions, and voice and AI assistants, in particular, continue to growing areas of engagement — more than half of consumers say they are looking forward to AI making brand interactions better, according to a new Acquia study. New channels open new doors for bespoke experiences at every turn and through every medium, but only if brands have the ability to measure and optimize through every channel.
  • The industry will see a return to human-to-human interactions and increased adoption of real-time monitoring and decisioning where AI fails. Gartner predicts that by 2021, artificial intelligence will completely handle 15% of all customer service interactions, a 400% increase over 2017. But don’t discount humans just yet. Artificial intelligence, despite its promise, can make mistakes and is still years away from replacing humans in sensitive situations; it can still only do what we tell it to do. In certain situations, AI missteps could spell disaster. In regulated industries, for example, an AI matching the wrong product to the wrong customer could even mean a hefty fine. The job of human agents will change and evolve, but there will always be a need for human-to-human interaction, particularly in sensitive customer service and support interactions. Real-time monitoring and decisioning can not only incorporate business rules and logic to safeguard against CX hiccups, they can also support and enhance in-the-moment human interactions by providing up-to-the-second information about customer histories, interactions, and preferences.

Read the original at: https://greenbookblog.org/2019/12/23/37-insights-analytics-leaders-share-their-2020-predictions/