Mattersight: Behavioral Analytics to Build Effective Customer Relationships

Companies invest hugely to facilitate the way customers access their services and to build a back end system to automate the transactions. But what really matters is the 5 or 10 minutes of interaction with the customers, which is the moment of truth for the companies. “Personality matters—in both our personal and business interactions. You may enjoy the local coffee shop more because of the barista than for the coffee. That “connection” keeps you coming back. We help companies harness the power of personality to improve business interactions and outcomes,” says Kelly Conway, President and CEO, Mattersight, the company’s technology addresses human side of business transactions. “We analyze conversations and unstructured data, to understand people’s behavioral profiles, preferences, personality desires, and we use it to help companies understand their customers better, treat them the way they want to get treated, and connect them with the best agents to put them at ease,” says Conway.

Predictive Behavioral Routing, the core product within Mattersight’s Behavioral Analytics solution, analyzes customer and employee interactions, employee desktop data and other contextual information to optimally route customers to the best available employee, which results in an immediate significant reduction in costs, attrition and improvement in sales, first call resolution, or increase in customer satisfaction and retention—something that couldn’t have been possible with random customer and agent connections. Mattersight’s SaaS based delivery model combines analytics in the cloud with deep customer partnerships to drive significant business value.

The company has invested nearly a decade of product development resulting in numerous patents and more than 8 million proprietary algorithms that decode every second of human interaction, a capability unmatched in the industry.

In fact, Predictive Behavioral Routing is the only solution for contact centers that automatically routes customers to the best available contact center agent based on the application of psychological behavioral models.

Virtually any business that relies upon a contact center to sell, service, or retain customers can benefit from Mattersight’s solutions. The company which earlier offered their service to healthcare, insurance and financial services has now extended to other market sectors such as telecommunications, technology, utilities, travel and hospitality. Mattersight has clients that are premier providers in their respective industries, including firms like Progressive Insurance, DeVry University, General Dynamics and others.

TriWest Healthcare Alliance, a client of Mattersight that manages health benefits under the United States Department of Defense, recently presented their company report at Call Center Week (an annual meeting place for best practices and discovery in call center technologies) and also at the membership of the Customer Experience Professionals Association (CXPA) (a global non-profit organization focused on customer experience management), where they reported a 651 percent ROI and a 16 percent reduction in call time while also increasing first contact resolution rates and customer satisfaction scores.

Mattersight is constantly looking for additional data from verbal and written interactions to apply to its existing algorithms. The company is also continually developing additional solutions to operationalize the data its algorithms extract from conversations. Recently, Mattersight’s technology has been applied to discussion threads between teachers and students in online classrooms to improve online education and has also been used for web-based interviews to improve the recruiting and hiring process.