Identifying opportunities to improve next-best-action strategies with Value Finder
Discover areas in which you can improve the next-best-action strategy by monitoring where customers are left without any actions or with only low propensity actions. Identify groups of under-served customers and use this information to improve engagement by loosening restrictive rules or by adding relevant actions and treatments for your customers.
Customers can reach a point at which they are left with no action or become under-served at different stages of the next-best-action decision funnel: eligibility, applicability, suitability, and arbitration. Value Finder analyzes what happens at every stage and then assigns customers to different groups, for example, under-served after eligibility, which means that after applying eligibility criteria, these customers do not receive any relevant actions.
After you run a simulation, Value Finder selects three groups for your attention and features them in the Top opportunities section. Top opportunities identify the most significant gaps in the strategy. By addressing these gaps, you can improve the results of your actions and treatments, and increase your customer engagement.
The current version of Value Finder does not yet fully support multilevel customer contexts. A multilevel data structure consists of more than one customer context, for example, an account, a subscription, an account owner, and a few device owners. When run on a multilevel data structure, Value Finder only considers the actions at the primary context level (for example, the account owner). Customer contexts below the primary context are disregarded.
Value Finder provides descriptions of under-served customers and recommends steps to improve the next-best-action strategy. Review this information to understand for which groups of customers there are no relevant actions available. If needed, you can deselect fields to exclude them from the descriptions. Saving a group as an audience can help to test distribution to gain further insight.
Run simulations to discover gaps in customer engagement, analyze the simulation results to gain valuable insights, and use those insights to engage more customers.
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