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The “new normal” brought on by the COVID-19 pandemic has accelerated the arrival of digital economy, and it presents many exciting business growth opportunities for telecommunications in both consumer and enterprise businesses.
In this Catalyst, all the Champions believe that simply observing and monitoring our KPIs is not the way forward - customer experience (CX) optimization driven by artificial intelligence (AI) is the path to the future. Delivering on a superior CX will be the key to success in capturing new opportunities. But it is difficult to deeply understand customers' needs and experiences from their perspective; not knowing what areas of CX to invest in that will give the best Return of Experience for the business. In addition, it is time- critical to deliver superior customer experience to customers. Using traditional methods will not meet the ever demanding customers in the future 5G world; we are not able to capture their emotion and experience. While every customer demands faster speed, lower latency, more utilities functions tailor to their specifications with zero touch support and zero interruption expectations. It is an impossible task and we need to think outside the box.
To overcome these challenges, a top-down approach is needed, requiring a team headed by a CXO to justify the whole digital transformation. This Catalyst is working on a solution that utilizes advanced data analytics, AI & ML models correlating and linking CX measures across all touchpoints to key financial business drivers such as NPS, ARPU, Churn, Customer Life-Time Value (CLTV), in order to identify the major CX contributors driving the business performance and their impact. The insights from this solution can guide our investments into CX and related use cases, and to measure and track their RoX.
The key objective of this project is to link customer experience with business results. With this AI-enabled solution in place, we will have a better understanding of how well a customer interacts with our brands, how changes to the customer experience positively impacts customer lifetime value and the financial well-being of the business, and get a more holistic view of the influence and effect of digital investments. Ultimately, these insights will enable us to deliver more value to our customers, thereby enhancing the profitability of our business.