Nuance Communications, Inc. (NASDAQ:NUAN) today launched Nuance Prediction Service, enabling brands to predict inbound customers’ intents or next requests and proactively offer personalized, automated responses to quickly resolve any inquiry or concern without needing additional clarifying questions. Nuance Prediction Service lives within the Nuance Customer Engagement Platform, which allows organizations to have human-like interactions with customers across channels – including the IVR, web, SMS, outbound, third-party messaging applications and IoT devices.

According to Gartner, through 2020 AI use cases supporting CX are forecast to deliver the most business value followed by new revenue growth thereafter. One of the most prevalent of these use cases is improved predictions, or “increasing relevancy and personalization by analyzing contextual data to provide recommendations and advice¹”.

Nuance Prediction Service analyzes aggregate, anonymized customer data from across all channels to model and understand what incoming customers are likely going to ask and offer a highly personalized interaction – in some cases offering up that response proactively, before a customer even engages. The result is not only increased customer satisfaction across channels, but also cost savings from reduced time to solution and fewer customer queries live agents need to handle.

Key benefits of Nuance Prediction Service include:

• Hyper-personalized experiences – By using AI and machine learning to analyze past interactions of an organization’s customers, organizations can provide the kind of individual experiences customers today are demanding – differentiating from competitors and growing loyalty
• Continuous learning & improvement – Aggregated data captured from customer transactions across all channels is leveraged to refine characteristic models and raise success rates over time. During each encounter, Nuance Prediction Service makes a calculated projection at the reason for the engagement and automatically updates the prediction model for the organization to ensure the best possible experience the next time. With this constant analysis, organizations can “fail fast” by testing new concepts, offers or menus quickly and determining the best performers
• Improving business results – Key performance indicators (KPIs) such as containment rates, routing accuracy, conversion rates, customer satisfaction and revenue will improve by accurately predicting why customers engage and directing them to the right solution faster without need for a live agent

“Large organizations today are fielding billions of customer interactions each year and being able to anticipate and resolve customer needs in advance offers not only enormous potential for savings and operating efficiencies, but perhaps more critical, advances the customer experience,” said Robert Weideman, Executive Vice President & General Manager, Nuance Enterprise Division. “Prediction Service fuels the kind of highly personalized, omni-channel strategy that so many organizations are trying to achieve to engage their customers intelligently, while providing self-service that makes tremendous impact on efficiencies. We are looking forward to bringing this to our customers and continuing to push the envelope on our AI-powered approach to engagement.”

Source: Nuance Communications media announcement