NPS expected to move by around 20 points within the next 12 months
Deliver top class actionable insights
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A prominent life insurance company had two market leading survey and text analytics solutions but were not maximising the benefits from the customer data being generated.
The existing solutions require expertise to manage the different elements, including the configuration of the survey questions and the text analytics lexicon. However, the company lacked some of the expertise required and asked Davies to fill that gap with analytical resources and appropriate internal training.
The Insight & Analytics team at Davies, who have extensive experience in this space, started work on getting the most out of the available technologies. This focused on the lexicon coding work to build the language packs and root cause analysis reporting structure.
The team developed a 3-tier analytics topics lexicon (including sentiment). Best practice suggests that between 15-20 level 2 topics is about right as with a manageable number of topics, you can understand the drivers of good and bad customer experience and then drill deeper into the areas of concern. 88 topics were built at level 3 to help determine root cause.
Our client had quite ambitious Transactional NPS targets to achieve, so the Insight & Analytics team helped them to develop the insight reporting to enable them to take the right actions to give them every chance of hitting their target. The expectations were to move NPS by around 20 points within 12 months to bring the organisation to top of their class.
For more details of our analytics services or to discuss how we can help you generate richer insight from your customer interactions, contact:
Director of Insights & Analytics