Customer digitaldecisioningfinal
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The document discusses the importance of digital decisioning in enhancing customer experience during digital transformation, highlighting how machine learning and AI can optimize customer-facing decisions. It emphasizes the need for businesses to adopt a 'decisions-first' approach, combining analytics, business rules, and AI for real-time, consistent decision-making across all channels. Lastly, the document outlines key success factors for implementing effective digital decisioning to drive business efficiency and customer satisfaction.
Customer digitaldecisioningfinal
- 1. © 2020 Decision Management Solutions James Taylor How to Put Customer-facing Decisions at the Heart of Your Digital Transformation
- 2. © 2020 Decision Management Solutions 6 Your Goals Learn how to focus your digital transformation on the customer experience See how machine learning and artificial intelligence can help Identify your next steps to get started
- 3. © 2020 Decision Management Solutions 7 Our Goals In This webinar Digital Transformation Customer Experience Decisions Digital Decisioning Steps To Success James Taylor
- 4. 8 AGENDA © 2020 Decision Management Solutions Digital Transformation And Customer Experience Which Customer Decisions Matter? Digital Decisioning What is it What’s its role in digital transformation How can it radically improve your results Steps To Success Q&A
- 5. © 2020 Decision Management Solutions 9 Quick Payoff for listening Digital Decisioning is a critical component of a digital transformation Digitizing the decisions you make about customers Makes them faster and more consistent Makes them more personal Makes them more profitable Digital Customer Decisions drive a positive customer experience
- 6. 10© 2020 Decision Management Solutions Digital Transformation And Customer Experience
- 7. 11© 2020 Decision Management Solutions IDC: 85% of enterprise decision-makers 2 years for digital transformation Or Fall behind competitors Suffer financially According to IDC, 85% of enterprise decision-makers say they have two years to make significant inroads into digital transformation or they will fall behind their competitors and suffer financially.
- 8. © 2020 Decision Management Solutions 12 A Typical Platform For Digital Transformation Digital Platform Digital Channels Digital Workers Digital Monitoring Digital Processes
- 9. © 2020 Decision Management Solutions 13 Customer Experience Challenges In Digital Transformation Out of date Waiting for people to respond Reporting on metrics and status Impersonal, channel- specific focus
- 10. © 2020 Decision Management Solutions 14 Digital Transformation Must Improve Customer Experience Understand my expectations Understand my needs Personalize my recommendations The priority should be the overall experience, not the channels According to Salesforce Research, 76% of consumers expect companies to understand their expectations and needs. According to the Gladly 2020 Customer Service Expectations Report, 75% of consumers are more likely to purchase if a company provides personalized recommendations. “For the customer, channels are simply a way to communicate. The priority for companies should be on the overall experience, not the channels.” —SHEP HYKEN 3/4
- 11. © 2020 Decision Management Solutions 15 Digital Decisioning Addresses Customer Experience Challenges In Digital Transformation Impersonal Wait For People Out Of Date Reporting Micro Decisions Real-Time Action Business Agility Integrated ML/AI Impersonal and channel-specific actions Waiting for people to respond Out of date processes Reporting on metrics and status Making customer-centric decisions across all channels Automating more decision-making for real-time, always-on actions Independent decision-making delivers flexible, current processes Decisions based on predictive analytics, machine learning and AI
- 12. 16© 2020 Decision Management Solutions Which Customer Decisions Matter?
- 13. © 2020 Decision Management Solutions 17 Operational Customer Decisions Matter Strategic Tactical Operational Become more customer- centric Revise Marketing Approach Make customer- specific marketing offer
- 14. © 2020 Decision Management Solutions 18 Consistent Operational Decisions Across Channels Need to ensure Consistency Accuracy Agility
- 15. © 2020 Decision Management Solutions 19 Micro Decisions: End The Cookie Cutter Every time you decide what action to take for a customer, make that decision be unique to that customer 1:1 Marketing Personalization Targeting Next Best Offer Next Best Action Micro Segmentation
- 16. 20© 2020 Decision Management Solutions Digital Decisioning
- 17. © 2020 Decision Management Solutions 21 Digital Decisioning Precise Consistent Real-time Automated Customer decisions … at every touch point Operationalizes machine learning and artificial intelligence Uses business rules to guarantee agility, transparency and compliance Supports continuous learning and improvement
- 18. © 2020 Decision Management Solutions 22 Digital Decisioning: Data-Driven, Real-Time Actions Decision Enrich With Analytics Consistent, Precise, Real-Time Customer Decisions Across All Channels Learn Continuously Customer data Policies, Regulations Best Practices
- 19. © 2020 Decision Management Solutions 23 Enterprises waste time and money on unactionable analytics Digital decisioning can stop this insanity The Dawn Of Digital Decisioning: New Software Automates Immediate Insight-To-Action Cycles Crucial For Digital Business John R. Rymer and Mike Gualtieri
- 20. © 2020 Decision Management Solutions 24 Digital Decisioning Up-Sell and Cross-Sell in agent POS Business problem How to increase the Annual Premium Equivalent (APE) of sales made by agents using mobile app to work with new clients Results $6,000,000 in APE uplift >98% Agent adoption 14-24%+ Acceptance Solution Decision service used financial data captured from client and proposed purchase to suggest intelligent up-sell or cross-sell Seamless integration into sales conversation Also integrated into customer portal “It’s like finding dollar bills lying in the street. The ROI is enormous and the effort tiny.”—CFO
- 21. © 2020 Decision Management Solutions 25 Digital Decisioning Architecture Performance Management Enterprise Platform Data Infrastructure Channels Decision Service Decision Monitoring Business Process Management Legacy Applications Decision Logic Decision Modeling Probabilistic Algorithms Optimization A decision service encapsulates business rules, advanced analytics and even AI technology to deliver automated decisions to your application context. Leveraging your data, its behavior is defined by a decision model that also connects its results to business performance for effective decision monitoring. Packaged Applications Apps and Mobile Applications
- 22. © 2020 Decision Management Solutions 26 Leverage All Your Decision-Making AI Decision Decision Logic Optimization Probabilistic Algorithms Predictive Analytics Machine Learning Policies Regulations Data-driven Best Practice
- 23. © 2020 Decision Management Solutions 27 External Data Big Data Business Rules Continuous Improvement Customers use multiple channels A common service suggests actions Using business rules and analytics/AI in combination These are continuously improved And managed by a decision model That reuses common decisions across channels, processes Automated with business rules And analytics, AI Analytics and AI An Example Of Digital Decisioning Next Best Action
- 24. 28© 2020 Decision Management Solutions Steps To Success
- 25. © 2020 Decision Management Solutions 29 Three Critical Success Factors For Digital Decisioning DecisionsFirst Design Thinking Mix and Match Technology Continuous Improvement • DecisionsFirst Thinking - Think about decision design first to build a decision model and drive practical innovation • Mix and Match Technology – Business rules, analytics and AI under a decision umbrella, deployed as a decision service • Continuous Improvement – Analyze decision-making to drive business learning and focus on gradual improvement
- 26. © 2020 Decision Management Solutions 30 Digital Decisioning Using Decision Management To Deliver Business Impact From AI A completely updated version of an established and popular book “…the only approach that has actually allowed me to operationalize predictive models and deliver real ROI!” “Essential reading for COOs looking to rigorously improve automation through AI.” “Anyone trying to automate and embed analytics to support decisions should read this book.” “Nothing but solid knowledge, sage advice, and great examples without an ounce of hyperbole or fluff.” Forewords by Tom Davenport and Eric Siegel. Buy: mkpress.com/DD
- 27. 31© 2020 Decision Management Solutions Your Questions Enter questions for the Q&A here James Taylor, CEO [email protected]
- 28. © 2020 Decision Management Solutions 32 Thank You More resources to apply digital decisioning to the customer experience on our website bit.ly/CustomerDM Decision Management Solutions works with clients to improve their business by applying business rules and analytic technology to automate and improve decisions We can help you improve your productivity with our DecisionsFirst approach [email protected]
- 29. Thank You For more on Decision Management, go to: decisionmanagementsolutions.com © 2020 Decision Management Solutions