"Enter Journey Analytics. Not only can Journey Analytics increase loyalty and sales, it is a direct way of monetising CX. Journey Analytics is the key tool for orchestrating ROCX: return on customer experience."
inQuba's solution provides the modelling capability to digitise customer journeys, as well as map transactional and experiential data to the journey points, says Renzon. The actual customer journeys are then visualised, revealing the journey paths that customers actually take.
"This can show channel-switching, dead-ends in experiences, such as drop off-during application or on-boarding, and service failure points where customers end up in a service loop. It can, however, also highlight successful journeys, enabling the business to immediately see what is working and where improvements need to be made," he says.
The solution applies advanced machine learning using predictive analytics to determine which action is most likely to nudge a particular customer to the next goal state, says inQuba. This also allows for deeper insights into, and understanding of, the needs and preferences of customers, allowing the business to acquire, retain and cross-sell to customers, it adds.