Mobile operators are increasingly looking to real-time analytics as a means to help customers address issues with their devices as service providers aim to proactively address those situations and deliver a positive customer experience, Razorsight CEO Charlie Thomas has told Pipeline.
Action on the part of operators would occur before a customer files a complaint, Thomas said, adding “that kind of preemptive strike is a loyalty builder.”
“Mobile operators have the ability to offer mass customization in the way that Nike has, and to deliver unique ‘experiences’ based on customer preferences, demographics and location,” Thomas added.
To set the context, Thomas offered a definition of real time analytics as applying business rules, statistical algorithms and workflow in the moment as the user seeks to drive insights into how to grow customer lifetime value and revenue per subscriber.
He also described a scenario where a customer’s credit card gets denied because one of the merchant’s business rule recognizes that transaction as fraudulent, an event that happens at up to thousands of financial institutions.
“Such a pure ‘by the rules’ approach commonly ignores the context of a situation. And in the mobile environment, that can lead to arbitrary decisions that undermine the customer relationship and turn “thumbs down“ on new revenue opportunities,” Thomas says.
This can lead to dissatisfaction by the customer and Thomas offered three types of value operators can achieve in order to maintain that relationship: retention, sales and advertising.