In this case study, we apply an Insurance Customer Life Cycle Analysis to publicly available review data to help Hastings Insurance gain greater insight into potential performance improvements.
How The Perfect Storm Led To A Logistics Company Sidelining Customer Feedback
Relying on insights derived from analysing a small sample of data can lead to a false sense of security. So why do we do it? A global logistics company found itself in the perfect storm, Customers were constantly telling them exactly what they wanted and how they wanted it, but in such huge volumes it became unusable.
Tapping into customer feedback quickly became a sidelined action for this client – not because it
wasn’t seen as valuable, but because it was too difficult to work with consistently and at scale.
Over time they realised less than 5% of the feedback being received was regularly manually coded and analysed, leaving the client with a tiny snapshot of their business in a brief moment of time. The company described it accurately as “…a false sense of security as to what’s hidden in our data.”
The company faced multiple key challenges
- How do we analyse all of our data, in real-time without spending days manually coding the data, and without investing more into team resources?
- Once we have the data coded how do we draw actionable insights and know where best to focus our attention?
- How do we gain engagement from a wide mix of people in our organisation across silos who have accountability for monitoring and improving business performance based on customer data?
The first step was to analyse all customer feedback from multiple data sources including complaints, Voice of Customer (VoC) and other feedback mechanisms. Touchpoint Ipiphany easily accommodated the large volume of unstructured data, automatically coding it into segments and drawing together themes within the feedback, giving the company a holistic view of customer interactions and concerns.
Touchpoint Ipiphany was then able to sort the results of the data by business impact, allowing the company to uncover new and old issues and define in detail specific insights that helped them sort the business critical aspects from those to focus on later.
Within weeks the insights team had set up customised reporting sent straight to Stakeholders, enabling them to segment the data, set up trend analysis and uncover hidden relationships within the data. This allowed the previously siloed teams a wider breadth of information to see how customer interactions and feedback crossed between department focuses. These insights allowed the teams to combine resources and focus efforts to combat issues that were arising.
Touchpoint Ipiphany allows you to eliminate sampling bias by analysing 100% of your data in minutes. Ipiphany can read thousands of lines of unstructured data per minute, categorising it by sentiment, impact, or any key metric you prefer – enabling stakeholders to view results in an organised and systematic way that will enhance the decision-making process for continuous business improvement and return.