Real time customer experience – The secret to the competitive advantage in terms of customer experience lies in the ability to make decisions and to respond in real time.
To give a definition of “real time” on the market and how companies are facing the challenges in terms of customer experience, Pega Systems conducted a survey on a panel of 3,500 participants, belonging to 6 key industries in 11 countries around the world.
The results show that customer experience is at the top of organizations’ priority list. The covid 19 pandemic contributed to this, putting various markets in crisis and accelerating the drive for digital transformation.
In particular, Pega’s report shows that the ingredients to differentiate in terms of customer experience are data and real-time decision-making.
The centralized approach focused on response times in real time is based on the ability to read the context, the behavioral and emotional data of the customer and the speed in which responses are produced and actions are taken.
Responding in real time means moving quickly from sales, to assistance, to loyalty, taking into account the customer’s context and the intent of his requests.
To do this, a proactive approach is essential, favored by the use of technologies such as virtual assistants that open a “one to one” dialogue with the end user.
Companies are now called upon to establish a 2-way communication channel with their customers and the best method to achieve high levels of customer experience is to respond immediately to their requests.
REAL TIME CUSTOMER EXPERIENCE: what does real time mean?
Real time customer experience – 26% of the Pega survey panel think that “real time” means making decisions very quickly, in a time that varies between 20 and 60 minutes.
8% of interviewed participants translate “real time” into making decisions in a sensitive and intelligent way, while the interaction with the customer is taking place.
48% define “real time” as the ability to adapt to customer needs.”
Pega defines Real time as:
“An analytical capability enabling a brand to analyze an individual’s context “in the moment,” using predictive models and business logic to select the most relevant action, then delivering the next best action to that person in-channel – all while the customer interaction is actively taking place”.
According to Pega, making a decision in real time in 2021 means taking less than 200 milliseconds.
The speed of real time decisioning is destined to further advance, considering the parallel evolution of artificial intelligence technologies that work to the advantage of the customer experience and data’s availability that support real time decisioning such as conversational AI.
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