A Guide to Excellent Conversation Management

A must-read guide for enterprises with billions of conversations and millions of customers.

call center conversational business intelligence software woveon

Enterprises are much more overwhelmed with conversations than ever before. Not only do they have to actively respond to customers over a myriad of channels like email, phone, social and livechat, they’re expected to give personal, relevant and fast responses.

To tackle this problem, many organizations are looking at new technology to help them meet customer expectations. Some of the most notable are AI chatbots, self-service knowledge bases and good old Interactive Voice Response (IVR) systems.

The problem? These all aim to lessen the time customers spend with agents.

While people do like self service for speed and convenience, majority still want to be able to talk to a person in times of need, or at important turning points in their life. Curiously, while we’re moving more towards a more digital and self-service world, most consumers still want the ‘human touch’ in their service communications.

human touch woveon conversational business intelligence

The challenge is to provide highly personalized and relevant offerings to meet both customer and business goals, all the while delivering the experience through the customer’s natural mediums of interaction. Counterintuitively, the likeliest solution to bring the human element back into customer conversations is though technology and big data.

So, what should you look for in a technology that will give you both customer satisfaction and maximize revenue?

Multichannel Conversations

 multichannel conversations business intelligence software woveon

At the basics, an organization’s communication channels should be in one view. That means a business should be able to see and reply to customers by email, phone, livechat, social media, forums and wherever they could be talking to you, or about you, on one platform.

Why? Convenience and transparency.

Convenient Conversations

A single platform for the entire range of conversation channels is much more efficient for customer-facing agents. Often, they have to switch between multiple channels to check for new customer interactions, and unfortunately, miss some communications here and there. With one view for conversations, they save on time, and reduces the chance they will miss communications from less monitored channels.

The convenience isn’t just for agents. Customers want to interact with brands through their medium of choice. 51% of U.S. consumers are loyal to brands that interact with them through their preferred channels of communication. Younger consumers especially, want to interact with large organizations via instant messaging channels where they can use natural language. Having all channels on one platform allows agents to have visibility across all channels, instead of doing well on a few and lagging on others.

Transparent Conversations

In so many organizations, a different team handles a different channel. They are responsible for that channel, and that channel only. But the customer is dynamic. They might reach out on one channel, and upon finding that it isn’t fast enough or substantial enough to resolve their problems, they will switch channels.

The ‘different team, different channel’ approach doesn’t account for the customer’s flexibility, resulting in multiple replies or inconsistent replies from two different people, both creating bad customer experiences. With multiple channels on one view, conversations are transparent. Conversations from the same customer are stitched together, and the same person can handle issues without making the customer’s journey difficult.

Holistic Customer View

single customer view conversational trasactional behavioral intelligence woveon

In an enterprise with multiple departments, systems and channels, it’s necessary to have a collective view of the customer.

A single customer view (or a 360 degree view) is a complete profile of a customer, created from aggregated data points within an organization’s systems and channels. It collates data from multichannel communications and customer data platforms (like CRMs, analytics, marketing and legacy systems).

Customers often complain about the lack of continuity in their conversations and having to repeat themselves. Problems like this arise because agents have no visibility on what customers have said on a separate channel, or what customer information exists on a separate system. As such, interactions are treated as a completely new “ticket”, and in the worst cases, existing customers are seen as a new customer.

With a single customer view, an agent can see a given customer’s conversational, transactional and behavioral data in one place. This not only improves time-to-answer by 20% – 80%, it also ensures customer information flow is consistent and continuous, reducing awkward moments like the ones above.

The use of a single customer view can even go beyond customer care activities. Integrated systems mean that there could be a seamless blend of sales, marketing and service activities through conversation.

Having this feature marks the start of being able to use critical sources of data collectively. The key however, lies in how the customer intelligence is used. The following presents ways customer intelligence can be used to take control of conversations in providing exceptional customer experience and maximize revenue.

AI-assisted agents

Use of artificial intelligence (AI) in enterprises is not new. For decades they have been used to automate heavily manual processes to increase efficiency, accuracy and decrease costs. What is new, is the use of AI beyond processes to interactions.

Use of AI opens up the potential to deliver personalized interactions and hyper-relevant offerings that are scalable.

artificial intelligence customer conversations business intelligence woveon

Whether it’s the AI itself doing the talking, or an algorithm providing assistance to a human representative, online, or face-to-face, AI holds incredible potential to re-establish the human-to-human connection in an increasingly digital world. Check out some examples below.

Deliver relevant content and information with AI

Many organizations have invested heavily into user experience, self-service and knowledge management tools. Yet, it is still difficult and time-consuming for customers to find the right information when they need it.

Companies like Zendesk have developed AI-powered virtual assistants that help customers self-serve. By processing natural language, the technology suggests articles in the knowledge base to help them resolve their problems on their own. Research has found that most people are open to using self-serve AI technology like this, and see it as faster and more convenient.

Other organizations like Woveon have built AI-powered response assistants to help agents have more productive conversations in real-time. As agents talk with customers, the response assistance helps guide conversations so better results can be achieved for both the customer and the business. It would suggest opportunities like ‘other customers like her also bought’, or ‘he mentioned credit cards, link to these articles from our blog to help him decide’.

Speed up resolution times

call center conversational business intelligence software woveon

On average, a customer care specialist spends 20% of their time looking for information and context to resolve a customer’s problem. That’s one whole day in a work week!

AI can help organize information so that it’s easily digestible and relevant to a customer’s enquiry. Woveon’s Intelligent Response framework for example, will change the information it displays to assist agents based on the flow of conversation. If a customer talks about their personal loan, their loan details pop up. If the conversation shifts to their lost credit card, their shipping details will surface and agents are prompted to cancel the lost card.

Instead of wasting time looking for information, AI assistance leave agents more time to build a relationship and take up on untapped customer opportunities. Customers also love a quick and productive interaction. 69% attributed their good customer service experience to quick resolution of their problem.

Reduce repetitive admin tasks to open doors for higher value interactions

after call work repetitive call center agent woveon

Administrative tasks like After-call work (ACW) have been a constant headache for employees in customer-facing roles. Though they are necessary, it’s tedious, repetitive and and takes up too much time. Technology can help to reduce time spent on these menial tasks, leaving agents more time to build customer relationships and, in the process, make their jobs more productive and meaningful.

For example, Avaya has a natural language summarization tool to help agents process customer information post-call. Talkdesk automates call routing, where the customer is automatically paired with an agent with the best ability to solve their problem. Woveon can prioritize conversations real-time, based on customer importance, value, urgency, or a mixture of all factors.

Freeing up employee time away from menial tasks allow them to participate in higher-value activities.

Intelligent Analytics

customer business intelligence conversational analytics woveon

There’s no doubt that data analytics is incredibly beneficial for customer conversations. The trick is knowing what data to use, how, and when.

What data is being used matters because not all data is created equal. For example, rather than looking at metrics at a point in time (customer rated the agent 4 out of 5 for resolution), it’s much more important to look at the larger picture (that it took 3 calls and an hour on hold to get there).

How data is used is arguably more critical to conversational success. The key lies in knowing what datapoints to tie together, and what analysis to draw from it. A mesh of marketing and service data can show how a recent marketing campaign has affected conversation volume and NPS. A cluster analysis of related keywords in customer conversations can lead to discovery of a huge logistics flaw.

When to use what data is of particular importance to customer-facing agents. 74% of Millennial banking customers for example, want their financial institutions to send them information about services exactly when they need to see it. This could be information about personal loans when they’re starting to look for a house, or travel insurance before they intend to travel.

Companies these days have a wealth of data on their customers. In theory, organizations should have the ability to know who they are, what they need and what makes them defect to another company. However, lack of visibility on the holistic customer journey and customer intelligence tools stunt their ability to provide such excellence.

The following section will delve into three types of analytics particularly useful for managing customer conversations — predictive, clustering and revenue-generating.

Predictive Analytics

Predictive analytics provide foresight into potential customer problems and opportunities. Extracted from existing historical conversational, transactional and behavioral data, it can help agents better prepare for customer outcomes and trends.

A pretty common example is prediction of when influxes of customer conversations come in. For eCommerce businesses, holiday seasons generally see a spike in customer conversations and steadily reduces till the next holiday season. In a more complex scenario, predictive analytics can find that customers with a particular occupation, a certain concern and at a similar stage in their lives is actually a niche the organization hasn’t capitalized on.

Cluster Analysis

Now this one isn’t as common in a conversational technology, but is definitely worth mentioning. Cluster analysis involves conversations and customer information to be tagged, then for similar or related tags to be clustered together to draw insights.

Cluster analysis can draw out how topics in conversations can be relevant, or how particular customer segments can be feel about a product. This customer intelligence can then feed into other parts of the business. It could be used to help create a new automated customer workflow for upsells, or contribute to a new marketing campaign for a newly discovered customer segment.

Revenue-generating analytics

As repetitive and menial conversations are moving towards being solved by self-service solutions, agents must also move from a traditional support role to a hybrid service-to-sales model. This category of analysis is as the name suggests, analysis that serves to generate revenue for the business within conversations.

For example, Woveon’s Intelligent Response Framework suggests ways customer specialist representatives in banks can sell more products to their customers. A customer who fits the profile of ‘customers who typically get a black American express card’ will prompt a suggestion for the agent to talk the customer into an upgrade from their current card. A customer who is at a stage in their life where ‘customers like him are looking at buying a property’ will prompt a suggestion to link some home loan webpages, or a free session with a  financial planner.

Marketo research shows that only 10% of B2B companies’ revenue comes from initial sales. 90% of the revenue comes from following sales.

In the best possible scenario, this analysis is also delivered at the right time for an agent to capitalize on the opportunity, like in an intelligent response framework.

Be a data geek, not creep

data usage personalization privacy woveon business intelligence

Of course, it’s important to know that use of data should be “cool”, not “creepy”. There’s a fine line between the two that should never be crossed. Also, everyone’s fine line is drawn differently, so what one customer may think is cool, can be perceived as creepy by someone else.

Enterprises should have enough data about their customers to track and understand individual preferences, and see how customers respond to different use of their information at different points in the customer journey. Conversational intelligence and analysis tools can help create better relationships without overstepping the customer’s boundaries.

On a whole, customers don’t mind companies using their data for personalizing their experience and suggesting products and services that benefit them.

 

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While human contact is diminishing in volume, the quality and importance of each interaction increases. Forward-thinking organizations should be balancing quantity with quality to maintain a competitive advantage in customer experience. Technology can be a great booster to that end.

Have more ways you think businesses can improve on their customer conversations? Reach out to us to add to the article. We love chatting to like-minded people!

Optimise Conversion Rates with Customer Analytics in Woveon

Conversion in the world of business marketing means that when a customer visits your website, they follow through and take the desired action. This desirable action could be anything depending on the services that are being provided and the course of action you want the customers to take. For example, creating an account on you website, signing up for your newsletter via email subscription, downloading of a particular app or a PDF, etc.  

In conversion rate optimisation (CRO), the course of action you want your customers to take will determine which factors need to be measured and optimised. Optimising the conversation rate is about creating a systemic and structured approach that will improve your website performance. In order to achieve that end, data is collected via insights such as user feedback and analytics. These insights are determined and defined by the distinguishing features and objectives of your website.

The optimisation process works by taking the current traffic on your website and turning it into a success for your business. CRO is responsible for ensuring that the traffic coming to your website is effectively utilised as well. It does not work on guesswork or on hunches and it is definitely not about getting a lot of users, irrespective of their degree of participation on your site.

How does it work?

Conversion rates are the total amount of conversions divided by the number of people visiting your website. Yet, a very important question arises here as to what kind of visitors are we talking about — total or unique? For example, sometimes, the same person visits the website but buys the product just once or not at all. While the total number of visits will include each of their visits, they are after all, only one customer. This is why the true estimation of the optimisation rates is done with unique visitors only. Although it may not be the case every time, but the key is to use the same standard every time.

In order to optimise the conversion rates, you need to make a few changes to your website layout. There is no single way to do that since one thing that works for a site might not work for the other. Conversion funnel of the websites is always full of barriers and the purpose of effective optimisation is to remove as many barriers as possible.

Factors determining the Conversion Rates

Conversion rates are dependent on the performance of your website. However, the major standard determining the rates is the customer analytics. How many people are visiting your website, out of that, what number of people are going through the whole process and performing the desired action? This measures the conversion rate.

In the present day, when technology has become so advanced, the world is interacting with each other using a number of different channels. For example, there is social media, the interaction on websites, emails, and the list goes on. Therefore, it becomes quite a task to measure the conversion rates.

Optimising Conversion Rates with Woveon 

Woveon makes use of the latest technology to provide the exact estimate of conversion rates for any website. It helps the representative in optimising the conversion rates by providing them with data of the experiences of a particular customer to avoid trouble on both parts. This will ensure an increased chance of conversion.

Another way in which the software helps is by means of machine learning and artificial intelligence. Both these technologies are effective in increasing the rate of conversions by providing an intelligent and timely response to the customers.

How can Woveon help?

Woveon works by sorting and organising all the conversions in order to identify high value customers. The software ranks conversions on the basis of importance and urgency. Since it has identified the important customers, it is not a difficult task anymore. The final stroke of intelligence that comes with using this technology is finding out the preferences of the customers before they would be able to identify themselves and this allows you to delight them!

Moreover, it is an easy to use application that can be accessed online and provides a centralised location to the business, allowing them to manage and prioritise their customers in the best way possible. It allows the clients to easily interact with them by means of any channel that they prefer. It makes use of a wide breadth of data along with social as well as machine listening with a clean user interface to manage inquiries, suggest content, and identify customers that are of high value.

Furthermore, it optimises the conversion rates of any business by allowing them to reach and cater to their customers at any point easily.

4 Major Causes of Data Loss Faced By Businesses

All businesses are familiar with the issues of data loss. Fortunately, majority of such incidents are inconsequential, resulting in merely a few minutes of data loss or deletion of unimportant files. However, there are times in which the loss is quite critical in nature and has a substantial cost. As businesses rely heavily on data and information as the economic drivers to grow, business owners and leaders are prone to greater risks if they don’t have a backup system in place.

top causes for data loss infographics

Here are the 4 Major Causes of Data Loss Faced by Businesses today

1. Hard Drive Damage or Failure

One of the most fragile parts of computer systems is the hard drive. They are prone to break down double the times as compared to any other part of the computer. There are some ways of recovering data from a damaged hard drive but they are expensive. However, there is still no guarantee that all of your data will be recovered by the professional.

2. Accidental Deletion

This is another major reason of data loss. There are many instances in which employees, leaders and even business owners accidentally delete a file. If there isn’t any backup, then the loss can be significant. It is important to save, store and backup all the work you do regularly as this can save efforts, time, and resources.

3. Damaging Malware and Viruses

There are countless damaging malware and viruses that constantly threat the safety of the computer systems. There are several different kinds of risks involved with these viruses and malware including damaging the operational software, data loss, misuse of internet connection, data theft and so much more. Some severe viruses can not just lead to data loss but can cause huge damage to your system. There have been many such attacks in which businesses have lost important data and/or client information has been stolen, financial losses have been faced. A strong backup system can assist your business in not only protecting all the data but will also be able to restore it in case the data has been damaged or lost.

4. Data Theft

This can lead to major loss for the business. Your data can be stolen with the use of viruses and malware software or an employee who has access to data can steal important information. Not only this, your laptop, tablet or smart phone can get stolen or lost in an airport, crowded place, shops, or conference centre. You can lose a lot of valuable data due to such theft. However, if you have a backup you will be able to restore your valuable data.

A strong backup system and strategy can prevent you from suffering major loses in case you lose data due to these reasons. As, most of the time, the data is stored offsite, your data will still be secured in case of any burglary or natural disaster or any other cause of data loss.

CTR Benchmarks for the e-Commerce Industry

When you’re practicing in any particular field, you need to pay attention to the benchmarks which apply to it. If you don’t know what the benchmarks are, you’re not going to be aware of whether you’re meeting business goals or missing it by a wide margin. For this reason, you need to be aware of the benchmarks that apply to you, particularly when you’re using Click Through Rate a.k.a CTR for your website and in the e-Commerce industry.

Luckily, there are various benchmarks that apply and you can look at the following areas to know what to keep an eye on.

Below are e-Commerce Metrics to look for

1. Data Collection

When it comes to the benchmark for data collection, the lowest time for it is a difference of a year. The click-through rate differs each month and it is difficult to make a correct reading of the results you’re going to get. For this reason, it isn’t uncommon to see proper CTR readings being done over the course of a year. Some businesses even tend to focus on this aspect on a two-year basis so that they can study the fluctuations and other issues with more ease.

benchmark for data collection for proper click through rate reading

The reason why data collection is encouraged for a longer period of time is that it allows for the problems to be correctly visible and be easier to identify. A click-through rate can be rather fickle and what looks bad in one month might make a complete recovery in the next one without requiring much intervention from your side. 

2. Dividing Into Segments

The data collected shouldn’t just be filed under one category. For a correct view at the click-through rate your e-Commerce business enjoys, you need to define the data and consider a few other factors in mind too. By dividing it into segments, you end up increasing the significance of the data in hand. With e-Commerce businesses, you want to understand which platform the clicks are coming from. This will give you an understanding regarding the success or failure of your total click click-through.

On this basis, you can have it dividing into three major sections such as mobile, tablet and desktop. Not only does this allow you to optimize your e-Commerce strategy, but it also ensures that you can apply various other functions which can make your store more attractive for users. 

3. Know the Industry Standards

Once you have the data into different segments, you want to be aware of where your standing is in comparison with your competitors. While growth in the e-Commerce industry is fast, the competition you face is usually fierce because there are plenty of stores and products as well as industry giants such as Amazon and eBay. For this reason, working out where you stand in the market will help you understand the kind of changes you need to make. Knowing your industry standard can play a huge impact on determining how far or how short of the mark you have fallen.

By understanding this aspect, you will be able to work out your progress and the growth you need to experience. Keep in mind that getting the average for your total click through rates can be tricky as it is not just different from industry to industry; it is also different for each segment within the same industry too. For this reason, you can turn to online tools that can crunch all the industry data and show your average in comparison to the e-Commerce industry.

4. Comparison through Correlation

Now that you found the average of your click through rate which applies to the industry average as well, you need to focus on the correlation of your data. Correlation will allow you to make more accurate comparisons regarding the data you get. It also gives you a clearer image of the kind of benchmark expected from you and the kind of progress you should be making.

Correlation also gives you a clearer picture of each component in your CTR strategy and how it is working out to be. At the end of the day, it also helps to highlight which areas need more work and which are underperforming. Using a simple graph and a formula, you can easily make sure that you have all the components you need to excel and grow with ease.

With these industry benchmarks, you will be able to utilize and improve your click through rate with bigger success.

The Importance of Click-through Rate (CTR)

Monitoring the success of your digital campaign rests on several key factors. One of these key factors is an important but often overlooked metric; click-through rate. The metric often tends to get overshadowed by other metrics such as cost-per-click and the number of purchases made by a customer.  Cost-per-click is just one part of the whole picture and will shed little light on the success of your marketing campaign without taking into account other key metric indicators.

Learn how Conversational Technology works, Request a FREE demo today and Increase CTR.

The click-through rate (CTR) measures how frequently an ad or page was clicked compared to how often it was viewed. A high CTR directly affects your quality score and the amount you pay each time someone clicks on your advertisement. The average CTR on AdWords is somewhere around 2%, a higher number doesn’t necessarily mean you’re on the right track though. CTR is very industry specific, so while 2% may be high for a nutritionist business, it might be considered too low for a paid publication. Remember that it is easier for you to gain an increment on your CTR and conversion rates than to try increasing traffic to your website. You can’t just snap your fingers and bring new visitors out of thin air.

click throught rate CTR


There are subtle changes you could make to your ad or content which can profoundly impact the CTR of your digital campaign such as:

  1. Making sure that the background of the ad has a different contrast to the website’s overall look and theme. If the ad blends in with the rest of the page, it really wouldn’t capture the reader’s attention, will it?
  2. Once the reader does happen to look at the ad or page, your next step would be to ensure that the headline is capable of maintaining that attention. Using catchphrases such as “Watch this video”, “Phenomenal success with weight loss” will eventually push the reader to click on the ad. Remember that you’re dealing with human psychology and are finding ways of piquing a person’s interest – the numbers only reflect how well you’ve been able to grab a person’s attention.  
  3. Sometimes it is not a good idea to make your ads stick out too much from the rest of the content on the website. The more your ad resembles the colour thematic of the website, the higher are the chances that users will click on it. It is even better if the ad and content actually helps to supplement the information already present on the website.  

Related:
The Secret Sauce for a Successful Digital Marketing Strategy

Why Click-through Rate (CTR) is Important

1. Directly affects your Quality Score

Think of the quality score as your credit score. A bad credit score hampers your chances of qualifying for a loan, similarly, a lackluster quality score will increase the price you pay for each click. On the flip side, a higher quality score means Google will be charging you less per ad click, while simultaneously placing your ad and content at a higher rank.

2. It will help you understand what kind of messages matter to your customers

Since CTR is directly affected by how frequently a user clicks on them, a higher percentage will indicate if your ads or content are properly able to communicate with the audience or not. CTR can effectively help you fine-tune messages so the next time someone sees it, they will spontaneously click on it.  

3. Target the right kind of audience

Although a large portion of readers might be able to spot your ad on a particular website, only a small portion actually want to click on it. You might be wondering why? Your keywords are not accurately geared towards attracting customers from your particular niche. For instance, if your ad contains the word ‘nutrition’, it may be seen by readers looking for nutritional pills rather than nutritional tips.  A giant portion of your digital budget might be going to waste by reaching the wrong kind of audience who might be accidentally clicking on your ads, inflating your CTR percentage slightly so, but never translates to a call to action.

4. Predict offline conversions

According to Google, only around 45% of people that search for products online go through with transactions, instead preferring to make their purchase offline by making a visit to the retailer. The CTR percentage can be used as an indication of a customer’s interest level for your product. So while their curiosity might not actually translate to a call of action such as filling a form or making a purchase, it might strongly correlate to offline purchases.

5. Higher CTR score equals lower cost per click
The way Adwords decides your ad’s price is by multiplying your quality score with the bid price. A high-quality score significantly reduces your cost per click. The quality score itself is a function of CTR; the rule of thumb is that a higher CTR results in a higher quality score.

5 Small Companies Doing Analytics Right

The companies that have adopted data analytics and are making business decisions based on them are the ones making a name for themselves in the industry. This is very good news for the Australian economy.  There have been thousands of small companies in Australia who have contributed to the growth of the Australian economy by analyzing and using big data properly. Every startup recognizes the importance of data analytics and the role it plays in turning average numbers into something that you can use to make better-informed decision and grow the business.

Why do Companies need Data Analytics and Science?

Australia isn’t the biggest market, especially when compared to the United Kingdom or the United States. However, this doesn’t mean that Australian companies can’t make a difference. Especially because the size of the data doesn’t really translate into the type of success the business is going to achieve.

Learn how customer conversation analytics works. Request a FREE demo now!

A small business is generally operating in a competitive market, and they know that to compete effectively they will need to make informed decisions to help them survive. Yes, all small companies must first survive in the market before they go on to make a name for themselves. The way a company implements data analytics and science is the difference between failure and success. So, let’s celebrate the small companies that are doing analytics right, and are making a name for themselves in the Australian market.

Here are the Companies using and doing Data Analytics and Science right

1. Ingogo

Australia has seen a massive increase in car rental and taxi booking apps. Ingogo is one startup that wants to take advantage of the taxi industry. However, Ingogo knows that to take full advantage of the industry they need to do analytics right, and that means ensuring customer success. Ingogo lets customers book rides 2 days in advance, and offers customers AUD 10 ($9), if their driver cancels.

ingogo free taxi app booking service

 

Ingogo offers these sweeteners to customers because it wants to compete with Uber, which is a giant of the industry. By using analytics, Ingogo forced Uber to cut down its own prices since it was losing customers. Ingogo has made a great name for itself in the taxi booking industry and is soon going to be listed on the Australian Stock Exchange.

2. RecruitLoop

RecruitLoop is a recruitment agency that helps businesses recruit talent at low prices online. By using analytics, RecruitLoop could find out how to get ahead of other more experienced recruiters in the market. They know that customer success is a priority if they want to succeed, and will immediately delist a recruiter if they get one complaint. It also charges clients on hourly rates instead of on commission.

recruit loop brand logo recruitment agency

Using analytics properly, RecruitLoop could help companies reduce recruitment costs by 90% and managed to annihilate their competition in the process.

3. Hipages

Hipages is a startup in the highly competitive home improvement market. Knowing that it is going to be tough to compete with established companies, Hipages used analytics right and started making money from companies who list their services on the website.

hipages competitive home improvement market

 

Using this model, they could connect 40,000 trades people with 500,000 customers! Those are highly impressive numbers and allowed the firm to engage with the massive community of customers looking for homes and professionals that are dealing in the home improvement market.

4. SocietyOne

P2P lending is damaging personal loans all over the world, but one small company SocietyOne, is going about it the right way by using analytics properly. They help match borrowers with investments through their platform and have developed a new form of lending which has helped stabilize the financial sector. The success of SocietyOne is a clear indicator of things that small companies can achieve if they do analytics right.

societyone p2p lending company

5. Tapestry

Tapestry has also used analytics properly and came out with its own social network, which helps tech-savvy youth connect with those that are less capable. They have helped bridge the digital divide and made a difference in the lives of people. The network has two types of accounts, ‘Sharing’ for the tech-savvy and ‘Simplicity’ for the ones that aren’t.

tapestry audience tracking survey

Both accounts have different interfaces, and Tapestry has successfully allowed older people to connect with their family and friends through analytics.