FOR IMMEDIATE RELEASE
New AI platform makes Text Analytics more accessible for contact centres
Warwick Analytics has launched a disruptive new approach to text analytics for contact centres. Models-as-a-Service (MaaS) is a quick, easy and low-cost way to access off the shelf AI models that have been developed specifically for contact centres and their text data.
The off the shelf models include identifying root causes of churn and loyalty, predicting sales of new products, predicting marketing effectiveness and finding root causes of brand equity. The datasets can vary from social media posts and reviews to surveys and CRM notes and contacts.
Until now ‘AI-based Text Analytics’, the use of machine learning to classify text, has been cited as an expensive solution requiring data scientists to craft bespoke models for datasets.
Warwick Analytics is best known for its AI text platform PrediCX that can generate accurate machine learning models without the need for a data scientist. It is this ‘human-in-the-loop’ technology that has enabled them to create MaaS, a disruptively low-cost AI solution. For as little as a few hundred dollars per month, a model can generate predictive insight better that other analytics costing ten times as much.
Warwick Analytics will continue to expand the number of models available and is happy to build new models for contact centres with new or challenging datasets.
To demonstrate the effectiveness of MaaS, Warwick applied it to publicly available data in different industries to identify key insight and savings. In one example MaaS found a leading UK telco (O2) could automate 45% of the Tweets, chats and direct messages into its contact center, as well as identifying easily-addressable root causes of churn worth millions of pounds per year. In another example MaaS looked at preventable root causes of churn for Expedia and the savings were estimated at over $5m per year. When looking at TripAdvisor reviews for TGI Fridays, churn and loyalty root causes, not previously found by another leading text analytics provider, were identified. The number of churners identified was 10 times higher with a much higher precision rate of 88% versus 54%.
Dan Somers, the CEO of Warwick Analytics comments: “We are delighted to launch MaaS. Not only is it exciting to bring tangible financial benefits to customers with actionable analytics and automation, but we are also smashing some of the myths and claims of data science. We are dedicated to developing transparent, powerful, cost-effective AI tools to make customers happier and businesses more profitable.”
Warwick Analytics is best known for its AI text platform PrediCX that can generate accurate machine learning models without the need for a data scientist.