Vendors partner to bring powerful predictive analytics to customer experience
Vendors InMoment and RapidMiner are entering into a partnership that combines InMoment’s Voice of the Customer (VoC) solution with RapidMiner’s Predictive Analytics Platform to generate powerful and actionable customer and business insights.
Organisations are challenged with the amount of data generated and the hidden gems that can be found within. Having access to the insights gleaned from the data isn’t enough—businesses need to be able to take action. With RapidMiner, InMoment clients are able to leverage the number one open source predictive analytics platform to gain insight into customer behavior, fraud, sentiment analysis and other use cases, to help organisations take action on those predictions faster.
John Sperry, CEO of InMoment, said “More organisations are listening to and taking action on customer feedback than ever before. Prior to today’s announcement, businesses primarily had visibility into the rear-view mirror, which left them few options but to wait to hear how customers felt about their experiences, and then react. Our partnership with RapidMiner gives them the ability to anticipate customer needs, and act even more strategically. Not only will businesses be able to prevent problems, they’ll also be able to anticipate and address customer needs to forge even stronger, more profitable relationships.”
One of the first organisations to utilise this powerful new tool is maurices, a leading North American retailer for women and subsidiary of Ascena Retail Group, Inc. (NASDAQ:ASNA), which is helping to improve both customer experience and business outcomes.
Kristin Anderson, AVP of Customer Insights at maurices, said: “By applying the RapidMiner Predictive Analytics Platform to the Voice of Customer (VoC) feedback InMoment gathers for us, as well as structured customer attribute data, we have been able to consistently predict with about 80 percent accuracy whether a customer is likely to become a repeat customer.”
“The insights tell us which elements of our customers’ experiences encourage or get in the way of a long-term relationship with our brand. With that information, we know exactly where and how to invest resources to both fix problems, and proactively create environments that build loyalty over time. Maurices has always placed the customer at the heart of what we do, and that makes this type of intelligence invaluable to our business.”
Traditionally, data scientists are tasked with the ever-growing lists of day-to-day problems. InMoment and RapidMiner bring the power of data scientists into one solution. InMoment combines RapidMiner’s predictive analytics capabilities together with its own proprietary technology and methodologies to elevate customer insights to an entirely new level. The insights are presented via industry-leading data visualisation provider Tableau, making the information accessible for leaders across the organisation. In addition to delivering high-level insights, the joint solution can immediately and automatically route relevant information directly to managers and employees charged with taking action. This combination of predictive and prescriptive analytics presented seamlessly allows organisations to go beyond simple business intelligence and integrate into the DNA of the business to realise hard ROI.
Bill Doyle, RapidMiner’s Chief Revenue Officer, said: “Customer data is a critical asset in an organisation’s ability to harness the power of predictive analytics and to make a positive impact across the business. InMoment has integrated the RapidMiner Predictive Analytics Platform into their offering enabling lightning fast conversion of customer insights into action. Our partnership with InMoment introduces a new dimension to the customer experience—speed to market—and that speed will provide organisations with a significant competitive advantage.”