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MARKETS » NFV Pandemic Tech News
April 07, 2009
Chordiant Releases, Enhances Customer Strategy Simulation SolutionsBy Brendan B. Read, Senior Contributing Editor Anticipation is key to effective response, which is the hard ROI from Chordiant’s new solution, the Chordiant (News - Alert) Cx Visual Business Director (Cx VBD). Announced last fall and available now Cx VBD allows business users accomplish this by simulating and testing the potential business impact of customer strategies before putting them into production. They can also use the solution to monitor and control strategy performance companywide or in any part of the business in real-time.
Unlike traditional CRM solutions, Chordiant Cx solutions optimize the customer experience by enabling companies to have consistent, personalized, and intelligent dialogue with each buyer/prospect. Every interaction is guided by Chordiant Decision Management (CDM), which continually determines the Next-Best-Action to take. Because it is built on top of CDM, Cx VBD can use CDM’s ‘recordings’ of decisions and responses to simulate customer interactions and visualize the potential business results at an incredibly detailed level.
To further bolster the functionality of the Cx VBD, Chordiant has enhanced the CDM with a new version, CDM 6.2 that offers an upgraded Strategy Director module with design-time simulation. This new tool enables users to immediately test and analyze the potential business impact of a new customer strategy on a defined user sample as the strategy is being developed. In a matter of seconds, the user will see graphed distributions of how the strategy may impact actions, offers, costs, revenues and profits.
For example, with CDM 6.2 a marketing manager can gain direct insights into volume distributions, costs, and potential revenue of a new promotional rate by running a custom simulation report. After a quick visual analysis, the logic can be easily adapted where necessary.
Similarly, a risk manager who wants to quickly analyze the business impact of a change in an acceptance policy can gain direct insight into the value and risks that change will represent for a portfolio by running a simulation report on the underlying decision logic. For companies who require it, CDM 6.2 can now receive input from multi-byte character data sources to support Next-Best-Action recommendations.
Using the visualization enabled by Cx VBD, business users can ‘replay’ and ‘fast forward’ simulations using different strategies to see the impact they may have had on metrics such as profitability, resource load, revenue, volumes, customer satisfaction, and risk levels. Once customer strategies have been optimized for business and customer benefit, they then allow users to deploy them at the touch of a button and adapt them “in-flight” based on market pressures or business needs.
“We are extremely proud of this release as it truly sets Chordiant apart as the leader in customer experience management,” says Rob Walker, vice president, strategy and innovation, Chordiant.
“Being able to visualize the impact your customer experience strategies have on business performance is absolutely critical to understanding how best to optimize the customer experience. We believe there is nothing else on the market that enables simulation at this level, or makes changing strategies based on the analysis so easy at any level of operation. Cx VBD gives business users unprecedented power to see and control the connection between customer strategies and business performance,” said Walker. Brendan B. Read is TMCnet’s Senior Contributing Editor. To read more of Brendan’s articles, please visit his columnist page. Edited by Jessica Kostek |
