Chris Blotto, Informationist, and Ari Yacobi, Chief Data Scientist, from Knowledgent are presenting are the next NY chapter meeting of TDWI.
Despite all the hype surrounding customer centricity, many marketing organizations still rely on product-centric customer interactions. The ‘Next Best Action’ (NBA) model is an innovative approach to managing marketing programs. It incorporates advancements in machine learning and big data technologies to make every interaction with the customer individually centric. It has been described as a single, continuous marketing campaign, enabling the right message at the right time, using the right channel to select the optimal option – one decision at a time.
The NBA model analyzes all inbound and outbound interactions with the customer across all channels, and augments the analysis using business rules. The next best action recommendation is personalized to each customer based on their unique interactions. Intended key benefits are:
- Personalized real-time recommendation
- Consistency and avoidance of channel conflicts
- Cost alignment
- Optimization of customer interaction