{"id":3596,"date":"2019-12-17T08:02:04","date_gmt":"2019-12-17T08:02:04","guid":{"rendered":"https:\/\/www.revuze.it\/?p=3596"},"modified":"2019-12-17T08:02:04","modified_gmt":"2019-12-17T08:02:04","slug":"cx-analytics","status":"publish","type":"post","link":"https:\/\/www.revuze.it\/blog\/cx-analytics\/","title":{"rendered":"CX Analytics: What is it and What makes it so difficult?"},"content":{"rendered":"\n
Customer Experience Analytics (AKA: CX Analytics) is a collection of consumer data gathered from all of the channels and an output of consumer insights<\/a> in a report or a dashboard.<\/p>\n\n\n\n The CX analytics market is a multi-billion $ market. Just the US part was recently estimated to grow from under $2B in 2018 to $3.4B in 2023<\/a>. This is a lucrative market that is crowded for a reason as consumers represent the largest business driver in the world and brands compete ferociously for their business. <\/p>\n\n\n\n However, even in this crowded and lucrative market, it seems obtaining analytics for decision making is challenging. Most existing methods and solutions seem expensive, slow, and even shallow in terms of insights. <\/p>\n\n\n\n In a market where CX analytics tools are expensive and shallow it means insights are not easily accessible to the wide business decision making audience. When you couple this with the fact that existing solutions are slow you get the worst of all world for the fast-moving consumer markets:<\/p>\n\n\n\n In this article we\u2019ll analyze why that is and how new market solutions can provide a real alternative that is quick, accessible and granular. <\/p>\n\n\n\n Why understanding consumers is still based on centralized solutions?<\/strong><\/p>\n\n\n\n Existing solutions rely on data scientists, analysts and IT folks to put in rules into the artificial intelligence machines. In other words you have to train the AI to search for similar patterns in consumer feedback. <\/p>\n\n\n\n Take Siri as an example. It is trained by experts to recognize requests for restaurant reservations or online purchases. Because human experts need to imagine now every way that consumers can approach Siri, this is a losing battle. In fact, recent tests show that Siri dropped from around 85% to 70%<\/a> accuracy in understanding consumers. <\/p>\n\n\n\n Since human trained AI is the \u201cbest practice\u201d and experts are expensive, these systems are put in in a centralized manner and circulate predefined set of insights to different audiences. <\/p>\n\n\n\nThe CX Analytics Market<\/h2>\n\n\n\n
Siri as an example for human trained AI<\/h3>\n\n\n\n