Why Hyper-personalization is needed in today’s noisy world?

Original article was published by Cadenz.ai on Artificial Intelligence on Medium


Why Hyper-personalization is needed in today’s noisy world?

None of us is new to that feeling when we pick up a call from an unknown number only to be told about a pre-paid plan or a phone bundle offer that we don’t need (or worse, that we already have had for years). At the same time, none of us is new to the fact that we want better products and services at the time that is of need to us, like a free subscription of Netflix for me right now!

Sigh. We have all become constantly bombarded with irrelevant offers and ads but hardly receive an offer when we desire it.

If only the folks in the ivory tower knew…

Enter AI.

Telecom service providers can leverage the rapid innovation happening in AI to understand what each customer really wants, and then engage with each one at the right place and at the same time. This is what is referred to as hyper-personalization. The word “hyper-“ denotes that not only is there a very fine granularity of needs understanding but also that such intelligence is rolled out for everybody (no customer is left behind).

In this digital age, our little companions (i.e. the mobile phones in our hands) and us are inseparable. We call our friends to share our stories, extensively use social media to stay connected, binge watch our favorite shows, play games when bored and get restless when in “Out-of-coverage” places. Communication service providers, or telecom companies, have access to most of our mind share today. According to a survey, we give 15% of our daily loyal attention to our phones, which is surely known to the telecom companies.

Telecom industry is extremely competitive world-over having become one of the true utility companies dominated by private players in most markets, so much so that churn has been one of the topmost problems to which data science has been applied for more than a decade. Research has shown that 51% of customers say that they will become more loyal to telecom companies when they have good experiences. Digital transformation has only intensified the challenges, as we progressively expect brands to engage with us across channels with relevant and contextual messages and get annoyed when they don’t.

For this telecom industry, we have engineered Cadenz, our Customer Intelligence Platform to enable telecom companies to communicate with each one of us when we are likely to need with what we are likely to want.

A Customer Intelligence Platform (CIP) offers operators real opportunities to thrive in this challenging landscape by providing automated customer insights for engaging with subscribers at the right place and time. It is backed by a central repository that unifies subscriber data from all typical telecom industry sources (including various BSS systems and modules like billing, usages and reloads, CRM, and enriched packet data from probes) to create comprehensive behavioral profiles of all subscribers. AI-powered pipelines infer preferences and choices, that too only where consent is provided, using sophisticated behavioral modelling techniques that do not require any upfront data modelling or complex ETL.

Cadenz for telecom companies contributes directly to the top-line by bringing in more revenues for different product segments such as pre-paid, post-paid or phone-bundles. By understanding every subscriber’s preference, companies are able to tap into needs for Value-Added Services we would really enjoy or need. More delightful customer experiences are powered, which result in more stickiness, resulting in more usage that informs the companies about our preferences more, and the cycle goes on. Using Cadenz, a telecom company can hyper-personalize every facet of the interaction a customer has with merchant partners and brand partners resulting in new, innovative revenue streams.

Last but not the least, Cadenz also tracks the recording of consent including the topics for which consent is provided. This is at the heart of the data as well as the AI models. This is what allows us to confidently state that we enable telecom companies to earn the right to be trusted by subscribers with their personal data.

I would love to be a consumer of a telecom company that will know me, anticipates what I need but is respectful of my choices.

About the author:

Kaushik Chatterjee, Tech consultant with TheDataTeam with experience in design and implementation of Data solutions