Becoming Predictive with CloudCherry
Take the guesswork out of your decisions with advanced Predictive Analytics.
A Definitive Approach To Driving
Customer Experience Through
What do your customers actually care about? What keeps them coming back for more? The different aspects of your customer experience (which we call drivers) each have a different impact on your customer’s loyalty.
Untangling the impact of each driver on business metrics can feel like pulling apart a tangled ball of yarn. All the pieces are interconnected and trying to follow just one path leaves you with more questions. At CloudCherry, we want to move beyond correlation analysis and start accurately predicting the drivers of long-term success. We use causal models like Path Analysis and a structural equation model to untangle the connections between experience drivers and KPIs like NPS and revenue.
If a restaurant asked you to rate your meal across a variety of aspects – visual appeal, taste and how likely you are to recommend it – you’d dutifully fill out the comment card. But if the restaurant asked you to explain how the visual appeal of the meal impacted your propensity to recommend, you’d likely be stuck for an answer. Thankfully, CloudCherry can connect the dots behind the scenes to uncover exactly what aspects drive customer actions. With path analysis, we uncover the causal relationship between different attributes of CX to tell firms what truly drives the customer’s actions – be it their NPS, repeat purchase, advocacy or churn
If you don’t have a crystal ball, then Predictive Analytics is your next best option. With path analysis you know which CX drivers have the biggest impact on your anchor metrics, but Predictive Analytics will tell you exactly what the impact will be. The days of guessing what returns might be are over. With predictive analytics you’ll know what returns you’ll see before you even take action.
Secondly, instead of only measuring whether initiatives will drive customer experience KPI’s higher, we take it one step further and use real commercials to determine the financial impact of the changes. Our predictive engine is based on customer feedback, their actions and their purchasing data. With advanced predictive analytics, customer experience leaders can pinpoint exactly what they need to do to move the needle and drive ROI.
CloudCherry has three levels of text analysis: word cloud, sentiment analysis, and the most advanced of the three, theme analysis. Theme analysis derives quantitative insights from unstructured, feelings-based data. Theme analysis uses multiple algorithm engines, including BoW (Bag of Words), machine learning, and deep learning to determine the theme and sentiment of every comment, product review, and customer service interaction, etc.
Theme analysis helps you uncover things that you may have never thought to ask about. For example, you may have known that you have an average NPS of 47 with customers that are talking about “Access to Information”, but without theme analysis you’ll have no idea why. With theme analysis, you’ll learn that customers that mentioned “Access to Information” are happy about the “Information at KIOSK’s”, but “Information on Loans” is what’s pulling that NPS down.