Your business is bound to have run-ins with defaulters. These defaults could be over late payment and non-payment issues and should be resolved quickly, as they can negatively impact your profit margin. At the same time, if you handle this situation without much tact, it could ruin the relationship with your customer.
If only you could easily identify customers that are ripe for the picking to make the channel shift to digital. You could then enhance service levels, improve customer loyalty, save time and costs, and more. Within this context, I’d like to share a recent example of our collaboration with a financial services company to predict the likelihood of customers moving from the traditional, agent-based platform to a new direct, digital channel using machine learning.
Yes, it’s possible to make that magnificent leap. In the long and arduous journey to achieving end-to-end enterprise digital transformation, machine learning coupled with big data offers a stepping stone to graduate from Business Intelligence (BI) to Artificial Intelligence (AI).