inQuba announces partnership with BusinessOptics
Artificial intelligence (AI) is rapidly starting to take over the world and is set to change the face of Customer Experience (CX). According to Gartner’s Predicts 2017: CRM Customer Service and Support report, by 2020 the use of virtual customer assistants (VCAs), also called virtual agents or chatbots, will increase by 1 000%.
CX specialist inQuba is pioneering this trend by being one of the first companies to incorporate AI into its platform. Partnering with machine learning and analytics company BusinessOptics, inQuba has enhanced its ability to create truly personalised customer experiences by incorporating leading edge AI technology.
“Our ability to harness a company’s operational and transactional data to enable an in-depth understanding of the real journeys customers that customer traverse has allowed us to change how organisations approach their CX and engagement initiatives. This has been one of the reasons we have garnered awards from analysts such as Gartner and publications such as CIO Review. The addition of the BusinessOptics solution to our platform will help us catapult CX to the next level – one where businesses can intelligently determine what conversation to have when with which customer to achieve the true business objective such as increasing new business conversion or retaining customers.” explains Trent Rossini, COO of inQuba.
The company, which created a solution to allow businesses to initiate personalised engagements that nudge customers to the desired outcomes, will now be able to offer prescriptive execution of the most optimised communication which is helping companies achieve their objectives to retain customers, upselling to customer and retaining customer – the key points that keep CEOs awake at night. The addition of machine learning and AI capabilities to the inQuba platform will not only allow for an even deeper understanding of customers and their context but allow us to recommend and execute against those recommmendation, Rossini adds.
“One of the reasons we chose to partner with BusinessOptics is their ability to incorporate a wide range of datasets from transactional data through to datasets not typically available – such as images and natural language – in their machine learning platform. In addition, the machine learning capabilities of Business Optics can be combined with inQuba’s multi channel interaction capabilities to execute on “bot” conversations. Our capability to enable a single view of engagement across all channels and our ability to create a dialogue with a customer at every step of their journey will now be combined with the deep learning of the BusinessOptics solution. This will open up even better insights that will allow for the execution of even more personalised engagements.”
BusinessOptics, which was founded by a team of actuaries, mathematicians, data scientists and computer scientists, has created a prescriptive analytics platform and a range of industry specific solutions designed to enable “smarter business decisions”. Its platform uses machine learning and algorithms to learn traits through a specific suite of data, allowing for better segmentation, differentiation and personalisation.
The BusinessOptics solution is driven by continuous learning and insights. The data is analysed, hypotheses are made, and actions – in the form of engagements such as special offer communications (executed through the inQuba platform) – are taken. The outcomes of the engagements are monitored and what is learned as a result is used to optimise the next engagement.
“Through continuous learning, AI can not only enable more personalised offers, but assist the business in optimising lead segmentation, as well as identifying up- and cross-selling opportunities. It is also proving extremely beneficial in call centres, where it can optimally match agents and leads,” says Brad Smith, Executive Director at BusinessOptics.
“Obtaining and retaining profitable customers in today’s business environment is tough, and customer experience management combined with customer enaagement is one of the primary tools companies have been employing to keep ahead of competitors. Through this partnership, we are creating an even smarter platform which will maximise the benefits of truly understanding customer needs,” Rossini concludes.