Credit scoring and the puzzle of fairness metrics

Imagine a world where the decision of whether you will get the mortgage for your first house will be determined according to how often you talk to your mother or what route you take to get to work? Imagine a world where the decision of whether you will get the mortgage for your first house will be determined according to how often you talk to your mother or what route you take to get to work?

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When ethics end and lip service begins

Imagine a world where the decision of whether you will get the mortgage for your first house will be determined according to how often you talk to your mother or what route you take to get to work? Imagine a world where the decision of whether you will get the mortgage for your first house will be determined according to how often you talk to your mother or what route you take to get to work?

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Ireland’s market leading wholesaler and retailer meet its digital transformation goals

Food on supermarket shelves

case studies

Enabling Musgrave to meet its digital transformation goals

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Musgrave is Ireland’s market leading food retail, wholesale, and food service company. 

They came to us with a clear challenge: they wanted to implement a data strategy which outlined explicit deliverables that would result in a tangible impact on the company’s bottom-line earnings and better service to their customers. Additionally, their overarching goal is to instil a data-first culture which requires data democratisation throughout its workforce. We worked collaboratively with key members of the Musgrave executive team to design a comprehensive strategy with distinct initiatives and action plans that would be required to deliver the key objectives.

What our customers say:

“We found Idiro very good to work with on the development of our data strategy.  They shared their expertise and brought fresh eyes and good challenge to us, all the time working very collaboratively with the team.”

Edel Russell | Insight & Innovation Director

If you require further information about this case study or wish to learn more about how Idiro can help your business exploit its data to better meet your business objectives, please contact us.

Main goal

Musgrave goal was to become a more data-driven organisation and instil a culture within the organisation.

Delivery

Idiro produced an extensive report, outlining both detailed recommendations, as well as a high-level roadmap of initiatives.

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Our work

Our pioneering work in the field of data analytics places solutions at our fingertips to fulfill every individual customer requirement efficiently

Technology has no morals

Artificial Intelligence Ethics

Imagine a world where the decision of whether you will get the mortgage for your first house will be determined according to how often you talk to your mother or what route you take to get to work? Imagine a world where the decision of whether you will get the mortgage for your first house will be determined according to how often you talk to your mother or what route you take to get to work?

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Data strategy – The first step towards a successful business

Data-strategy-successful-business

Digicel wanted to improve overall customer experience, reduce churn, and increase revenues. To do this, they wanted to implement targeted marketing campaigns to reach their customers on the right channel at the right time. Idiro provided the intelligence behind this targeting, analysing customer behaviour at various lifecycle stages.

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Net Promoter Score – Can you predict it?

Net Promoter Scored

Using NPS to add tangible results

Net Promoter Score. What a handy numerical way to understand customer sentiment. It’s so valuable, but also so challenging. We need to talk more about the value and the pitfalls of NPS, and learn how we can use this in conjunction with the myriad of our other customer data points.

Surveys are used by most brands to try and garner insight from their customers.

However:

  • Only a small proportion is surveyed (up to 3% of customer base)
  • Response rates are declining (10-30% response rate)
  • Surveys create customer effort
  • They can waste valuable customer contact time and risk opt-out!

 And, let’s think about it: in our personal lives you should never really have to ask somebody how they are when you should already know that there is something wrong. 

As Fred Reichheld, the creator of NPS,  famously said, “The instant we have a technology to minimize surveys, I’m the first one on that bandwagon.”

So your NPS scores are high – but if churn rates are high, who cares?

The concept of Predicted NPS uses advanced analytics to expose how customers already feel based on their past and current experience. It uses AI to understand and qualify past customer experience quality along with the survey data you collect to predict future customer sentiment. 

Will the customer churn? 

Or could there be an opportunity there for increasing their value? 

Are we risking damage to our brand?

A Commscope report predicted that by 2020, customer experience was expected to overtake both price and product as a key brand differentiator. Well, it’s 2021 now and as we’ve learned via research done by Bain & Co, “Sustained value creators have Net Promoter Scores two times higher than the average company.”

It’s not just what is said, it’s what is unsaid

You can zero in on the root causes of 

  • policy
  • process 
  • people 
  • systems 

And gain a better insight into what actually influences customer perception and customer sentiment. These naturally drive customer behaviour and experience.  

We know this…

To effectively increase campaign conversion, we need to engage with customers at the most appropriate time – and also stimulate customer lifetime value with more personalised and targeted campaigns. 

The dream is to reduce the cost of service and reduce customer effort. so the customer doesn’t need to seek help. At the same time, we can increase the number of promoters and turn customers into brand advocates – even promoters. 

Fringe benefit: this will also enable you to improve your service offering based on what your customers actually need.

It’s time to provide an incredible customer experience and positively improve your bottom line. Learn more about Predicted NPS here: https://idiro.com/predicted-nps/

Or join the dialogue as part of the Idiro Predicted NPS group here: https://idiro.com/predicted-nps-landing-page/

Tania O’Connor
Idiro CMO

Introducing an Enhanced Net Promoter Score (NPS) product which uses Artificial Intelligence

Introducing an Enhanced Net Promoter Score (NPS) product which uses Artificial Intelligence

Idiro Analytics launches a limited beta programme for Predicted NPS for customer-centric companies in Ireland.

Dublin, Ireland, April 27, 2021

Since its launch nearly 20 years ago, Net Promoter Score (NPS) has become a key business metric for measuring customer sentiment across the world. All companies want to know what their customers think of them, and billions are spent annually on surveys that ask a simple question – the likelihood of recommending a product or service to a friend on a scale of 1 – 10. 

 

Recent research has shown that companies with a positive NPS score grew revenue 1.4 times faster and increased customer lifetime value 1.6 times more than other companies.

 

Today, however, NPS scores are hampered by low survey response rates. Also, GDPR opt-outs from over contact have resulted in NPS scores that do not accurately reflect the sentiment of the company’s entire customer base.

 

To overcome this, Idiro has announced the launch of its Predicted NPS product that uses advanced analytics and AI to:  

 

  • Provide 100% insight into customer sentiment across the customer base and measure individual customer experience 
  • Determine the drivers of, and provide root cause analysis for, Promoter Experience and Detractor Experience to predict future sentiment and NPS
  • Enable companies to intervene and engage with their users based on predicted customer sentiment

 

“This is an opportunity for companies who are invested in customer experience, and want to grow their revenues by understanding customer sentiment right across their customer base and also the drivers for that sentiment. More importantly, it enables companies to take actions to ensure reduced customer effort and increased customer lifetime value, while providing an optimal customer experience,” said Aidan Connolly, CEO of Idiro Analytics.

 

Idiro has built the Predicted NPS product in conjunction with a major telecommunications company and is now inviting up to three customer-centric companies to join its Predicted NPS beta programme. These companies will have the opportunity to shape the future of the product in terms of function, direct integration to campaign management tools and data visualisation. 

About Idiro

Idiro uses the latest advances in AI and Machine Learning to predict customer behaviour. Clients include AIB, Vodafone, Verizon, UCD and numerous other government, manufacturing, and utilities organisations.
https://idiro.com/

Contact Information

Tania O’Connor

Idiro Analytics

tania.oconnor@idiro.com

+353 87 666 3132

Viral marketing comes to life

A man standing on a railway platform using his phone conveying how fast viral marketing is.

Case Studies

Viral marketing comes to life

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Mobile phone operators know better than anyone else that social influence is a huge factor when consumers decide what to buy. Social influence/Viral Marketing is impossible to control, but what we discovered is that if we can understand how information spreads in a network, we can target customers in the right way, increasing NPS, without disrupting brand or relationships. Our targeting delivered a 230% increase in campaign success at a major European telecommunications provider. Find out how.

230%

Increase in overall success

22.7%

Campaign uptake within social communities

17.7%

Uptake with Idiro-idenitfied targets

If you require further information about this case study or wish to learn more about how Idiro can help your business exploit its data to better meet your business objectives, please contact us.

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Our work

Data analytics places solutions at your fingertips to fulfill every individual customer requirement efficiently and at the right time. Idiro solutions are based on AI and Machine Learning to bring your customer relationships to the next level.

Analytics & reporting case study: Pensions Authority

An old man stacking up coins indicating towards Idiro's work for Pensions Authority

case studies

Idiro were engaged by The Pensions Authority to carry out a range of analytics, reporting and data auditing functions.
The outset of the project required an overall exploration and auditing of the data currently held within The Pension Authority’s data warehouse to identify anomalies, inconsistencies or duplication. From there, specific areas of focus were identified for further analysis, updating of existing reporting processes and development of new reports.

Exploring a wealth of data

The Pensions Authority holds many years of data on trends in citizens’ retirement ages, contributions and payments

Ensuring data quality and reliable analysis

This project brought clarity and the ability to improve services for people and planning for regulatory procedures

If you require further information about this case study or wish to learn more about how Idiro can help your business exploit its data to better meet your business objectives, please contact us.

The Pensions Authority's mission is:

“To regulate and influence the policy environment so that people working in Ireland are confident that they are making adequate provision for their old age and that their pensions’ expectations will be met.”

case studies

Our work

Our pioneering work in the field of data analytics places solutions at your fingertips to full fill every customer requirement efficiently