If you’re like most FIs, insurance, ecommerce, or other online businesses, you probably have a load of customer data. But it is what’s hidden in that data that can make all the difference in detecting fraud, friction, customer satisfaction and creating a customer journey that makes purchasing from you a great experience.
Do you remember those word search puzzles you used to love as a kid? You know, the block of letters and list of hidden words to find? That’s what today’s customer data can seem like when trying to interpret a customers’ true intentions while they interact with your site.
Can you find the words below?
Without a method to translate customer data into customer intention, fraud and risk, where friction hinders conversion, and what may be keeping your customers from completing an application, the best you can do is trial and error. A/B testing, surveys, databases and machine learning models are all based on the data that is available to them. Most of the time, the data that is deployed in these exercises is old, historical data that do not give an accurate picture of the current state of the customer, in real time.
However, hidden inside your own customer data is a plethora of information that can illuminate your customers’ real objective for coming to your website in the first place. Unlocking that data solves the puzzle of what is working and what needs attention in the customer journey. It shows fraud attempts and high-risk applicants. It underscores friction and the strengths and weaknesses your site may have. And, this data can feed your AI and machine learning models with rich, current, meaningful information that makes them far more accurate and present the best outcome.
Want to learn more? Want to find the hidden meaning in your customer data? Let’s set up a free trial of the Neuro-ID Friction Index Dashboard and Fraud Solutions and show you what your customer data has been hiding.