NID-logo-blue-HR-600x72

It's All About the Data

Aug 31, 2020 3:59:29 AM / by Jack Alton

Digital transformation has brought many things into the 21st century. We can order pizza through our watch, transfer money with a few swipes on our phone, book a flight and rent a weekend chalet simply by asking “Alexa” to handle the details. But what’s at the heart of all this futuristic capability? Data.

Data is the new currency. Data is what changes markets and marketplaces. Data gives us access or denies entrance. Data is how Amazon helps you find what you’re looking for, make suggestions and turn your order into a doorstep delivery in a matter of hours. Data protects financial institutions from intruders, paves the way for legitimate customers, and drives operations, marketing, sales, and customer support.

Unfortunately, many organizations rely on 20th century data (or databases), to inform 21st century decisions. As we have recently experienced, the world and everything in it can change literally overnight. If we have learned one thing in the past few months, it is that real-time is really the only time we have to work with when it comes to servicing customers and converting prospects. Real-time decisions demand real-time data.

its-all-about-the-data-blog-20200831

Fortunately, there is a mountain of information and insight in the behavioral data collected or examined within each customer visit. If the right tools are used to unlock, expose and translate it, organizations can make better real-time decisions to reduce fraud, increase customer satisfaction and ultimately provide more personal service, even to the masses. Regrettably, many leading tools in use today designed to help extract the value out of your data employ old methods like surveys, heatmaps, and A/B testing to try and figure out what the data, or their customers, are really telling them.

Unlocking the data and surfacing deep insight into the true intentions of every visitor to your site would be Utopia, right? Well, for more than a decade, our science team at Neuro-ID has been developing the science behind what the data is really telling us. Are customers happy, confused, hesitant, confident, buying, shopping, etc.? Or are the visitors to a site trying to deceive an FI, as in criminal fraud or maybe just “padding” the answers a bit to look slightly more creditworthy in order to get that loan?

It’s all in the data...your data. Want to see more and get more from your customer data? Want to reduce fraud and risk and increase the conversion rate you experience today? Let me show you how our scientific approach, built over time and refined from monitoring millions of applications and translating billions of data points, allows us to uncover the Human Analytics™ in your customer data. 

Let’s connect.

Tags: CX, analytics, digital customer experience, fraud, Blog, risk, behavioral analytics, realtime

Jack Alton

Written by Jack Alton