These days, chat support services or customer service call centers utilize many data analysis tools to analyze their processes. One of them is call center predictive analytics. It is a much more advanced version that provides valuable insights that enhance service quality, operational efficiency, and agent productivity. Moreover, it also assists in predicting future events for informed decision-making.
Understanding Call Center Predictive Analytics
All businesses want to look into the future and determine the strategies that can help them stay ahead of the competition. Even though they can never be completely sure, some advanced tools like predictive analytics can help find out what the future holds.
Predictive analytics uses statistical techniques like predictive modeling, data mining, and machine learning to assess historical customer behavior and predict relevant future actions. The past data is inserted into a mathematical model, which is then applied to current data to guess what will happen next. Using this tool, customer care agents receive warnings about events before they happen so they can make better decisions.
Benefits of Using Call Center Predictive Analytics
In a world where customer experience is everything, businesses need to listen to the needs, expectations, and feelings of their customers. When people call contact centers, they record all their information and use it to shape their responses in the future. The ability to foresee patterns and trends is very valuable for contact centers in today’s service world. When agents have relevant information and insights, they can improve and modify their performance to offer favorable customer experiences.
Let us have a look at the top five benefits of using predictive analytics in call centers.
Improves Customer Service
Predictive analytics helps call center agents improve their service by pointing out what is working for them and what is not. Through this software, they gather valuable data from calls and use it to determine whether customers are satisfied or not. This advanced technology also helps agents in discovering the reasons behind customer responses and opinions.
Predictive analytics can make the customer journey much more convenient. Suppose a contact center is struggling to respond to a huge volume of repeated calls. This increases the call waiting times, making the customers frustrated. By using predictive analytics, the contact center can find out the cause behind customers making repeat calls and suggest a self-service solution. This process will not only be cost-efficient but also give agents the time to respond to other important queries.
Increases Customer Retention
Attracting new customers is more costly than retaining existing ones. The estimated cost of acquiring a new customer is around 10 times higher than sticking to an old one. To avoid these costs, contact centers can use speech analytics. By evaluating and merging the speech data with other information, predictive analytics models will identify the customers that have the highest chance of switching to another brand and highlight them. This will enable the agents to be more attentive toward those customers so they can try to mend the relationship.
Improves Agent Performance
Using the older analysis tools takes much longer to spot issues in agent performance. However, advanced software such as predictive analytics can help businesses to reduce the time it takes to monitor agent performance and address issues faster. It can significantly cut the time from months to weeks. The more instantly managers can identify issues in agent performance, the quicker they can amend them.
When agents are engaged and motivated, they can satisfy customers more easily. By swapping the traditional manual assessment with predictive analytics, contact centers can improve their processes significantly.
Efficient Operations
Predictive analytics can assist contact centers to determine the effect of a potentially disturbing event like a connectivity issue or a power outage and can propose the number of agents that will be needed to meet the service requirements under such scenarios. These real-time insights can also be useful for managers to manage the agents and resources to meet the demands efficiently. It can also help in carrying out what-if analysis to suggest modifications in the workforce, cost, and revenues that can improve the call center’s overall performance.
Enhancing Sales
Predictive analytics can provide valuable insights into the future and enable contact centers to focus on trends that they would have otherwise missed. In the case of sales, the success rate is usually low on the first call. A second or third call is mostly required to win a new customer. However, it is not simple to find out which customers will change their minds by a callback. Some customers may not be so simple to understand. Using advanced technology like predictive analytics can make this process much easier. By ranking customers with the highest probability to purchase at the top, it can help agents to prioritize calls.
