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Knowing Predictive Analytics Well Can Improve Your Call Center’s Performance

predictive analytics

In the call center business, scorecards measure the profitability (or not) of the business is its present existence. This measurement of Key Performance Indicators (KPIs) represents the kind of reporting necessary to monitors the business’s viability. Without a KPI scorecard, you’re like a kid in a candy store….

…Blissfully meandering around the store, working hard to find the sweetest treat to satisfy your sweet tooth craving, with no parent dragging you out the front door.

Clearly, it’s a naïve existence to think a supervisor can live without a KPI scorecard.

So, let’s break it down:

First of all, you have applications that propel your business. They are the functions that directly affect your bottom line. Your agents provide the customer service. You managers, of course, support those front line functions. Also, assisting the agents to do their job is the hardware and software functions. With advancements in technology, software is a major player as a medium in the delivery of customer service. All of these functions and much more make up the applications that drive your business.

Secondly, these applications generate data. The raw data provides information about your business functions. But, without parameters to define that raw data, the data is virtually useless. Moreover, if you don’t know how to analyze and manipulate the data properly so it can be useful, it remains useless.

Finally, analytics is the products of what has been created by the applications’ data.?

 The analytics are compilations of data, assimilated according to specific, measurement criteria, to ascertain a level of performance. Making performance measurable is the only way to know how productive your business is. By being able to analyze data, one can guide the business to success.

According to Dr. Ravi Kalakota of LiquidAnalytics, did you know that there are four types of data analysis?

  • Statistics
  • Forecasting for predictive analysis
  • Business Intelligence and data mining for descriptive analysis
  • Optimization and Simulation for prescriptive analysis

The importance of the classifications of data is to make it useful. Knowing where your business has been is useful to identify mistakes. Knowing where your business is today is better because you can have a snapshot of your present status to verify if goals are being met or not. Perhaps the greatest benefit of having data is being able to identify trends and knowing where your business is going. This takes us to a term you know as predictive analysis.

Dr. Kalakota points out that predictive analytics is the result of “better outcomes, smarter decisions, actionable insights, and relevant information.”

Now, look, your head can start spinning until your eyes fall out if you stare at these numbers too long! Lol

Find the application – data – analytics model that works best for your call center business so you can hit your KPIs. (Notice I didn’t write, that works best for you.) Because the truth is, you must put your business before your comfort. Without this spirit for your business, you might have a blind spot. You will overlook what you don’t know. So, it’s important to take the steps necessary to learn what model works best, according to a clearly defined analytics model that will enable you to run a smooth, business operation with desired performance.

Thank you for reading the article. If you found value, please use the share buttons above and let your colleagues know. If you have a comment, question or feedback, let me know by using the comments section below!

To your success,

Greg Meares

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The Client was pissed, and they had a right to be.  Our performance was so bad that the day I started we had a Service Level of 37%.  Our contractual requirement was an 80/20!      We had to fix it fast and we stumbled on an amazing system...

About the author

Greg Meares

As a Sr. Consultant for Performance Connections, Inc., Greg's primary objective is to provide value to organizations that are focused on raising brand awareness. Additionally Greg works on improving the customer experience, through business process re-engineering, and call center best practices. Greg is an industry expert and is often called upon to provide his analysis and solution oriented approach to improving performance in the BPO and Call Center industry.

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