Personalisation: enabled by data and advanced analytics
Data and Analytics |Customer Experience| Personalisation
Data science, algorithms and advanced analytics are being used to personalise communications and pre-empt customer interactions.
Superannuation fund Hesta is very focused on 'research and insights' and continues to develop their 'Ada' internal advanced analytics platform.
In addition to existing algorithms and propensity models Hesta have built two systems powered by advanced analytics:
"Ada says", which uses large amounts of data and statistical models to create "a personalised list of suggested actions" for members; and
"Abe", their anomaly detection system which "flags irregular patterns in our data and enables employees to explore these with its data discovery tool."
More details in the Hesta Annual Report 2018 19.
Another superannuation example of the application of data and advanced analytics to improve personalisation of customer interactions is AustralianSuper's partnership with Google in an initiative "to increase the efficiency and effectiveness of its marketing activities" using a data science technique called 'fractribution' "that assigns fractional values to each touch point in the path people take to become members of the Fund". For further details see the AustralianSuper Media Release 18 September 2019.