In less than ten weeks, WhyData’s Ability 1.0 Service Experience Analytics platform uncovered over $28 million in cost savings for this top ten US Bank.
Executive Summary: This case study reports the results of a WhyData Ability 1.0 analytic software engine deployment at a top ten U.S. bank. The bank had problems of high cost of customer acquisition; high customer churn; and suboptimal customer experience. Past improvement attempts failed to resolve the problems. As part of the WhyData evaluation, the bank ran a double blind experiment by simultaneously contracting the same project with a top three consulting firm. WhyData’s Ability 1.0 solution delivered superior results in a shorter time with a smaller budget. Ability 1.0 Analytics solution is a framework of methods (The Kano Quality Model, The Service Profit Chain Model, and The Serv Qual Model) that analyze the impact of service efficiency on profitability. Results from the WhyData deployment included projected annual savings of over $28,000,000 related to reducing flaws in the Account Openings Process. Customer feedback was quite positive. The client is one … read more