Nokia Oyj (ADR) (NYSE:NOK) has launched the latest version of its Cognitive Analytics for Customer Insight software. The software offers powerful new capabilities for service provider business, engineering and IT organizations and enables them to consistently deliver a superior real-time as well as personalized customer experience.
The Cognitive Analytics for Customer Insight from Nokia offers a holistic and real-time view of the customer experience so as to help service providers instantly identify issues and prioritize improvements basing on their business and customer impact. The software is made with Nokia’s Customer Experience Index (CEI), which helps to correlate information from the device, network, billing, customer care and other sources with satisfaction surveys like the Net Promoter Score so as to produce a customer-focused score that tracks subscriber satisfaction and service performance.
In the new release, Nokia CEI now comes with advanced machine learning plus deep learning algorithms which were co-developed with Nokia Bell Labs to give a new level of security, prediction as well as automation capabilities to improve the experience of the subscriber. The algorithms carry out self-optimization over time, hence reducing the time required for the initial tuning of the index from several months to just a few days, and offer a far more accurate view and interpretation of subscriber satisfaction. Consequently, service providers are able to take actions based on real-time CEI insights and predictions six times much faster to address service problems and offer better revenue-generating services based on subscriber preferences and needs.
The latest release of the Nokia CEI is also integrated with the Nokia Fastermind, which uses machine learning to extract value from customer analytics data to be used in real-time decisioning (RTD). This integration closes gap from insights to action by offering automated, real-time suggestions for next-best-actions to be implemented by service provider so as to proactively address issues as well as improve the subscriber experience.
In a statement, Nokia Software head of Digital Intelligence Niilo Fredrikson said service providers should put the needs of their customers at the center of their business and be able to engage with their customers in real-time.