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Disruptive Forces and Their Impact on BPO: Part 2 - Analytics is becoming all-pervasive and increasingly predictive

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Robotics has moved incredibly fast over the past year, but so has analytics. Analytics has been around in support of process improvement initiatives & Lean Six sigma projects for many years. It has also been present in areas like fraud analytics, which means at a personal level that you now have to re-instate your credit card most weeks.

However, analytics is now becoming much more pervasive, much more embedded in processes, and much more predictive & forward-looking in terms of recommending immediate business actions and not just process improvements as shown  below 

 BPO Activity

 Areas where analytics being applied

 Contact center

 Speech and text analytics
 Next best action/propensity engines

 Social media monitoring  & lead generation

 Marketing operations

 Price & promotion analytics
 Campaign and media mix analysis
 Store performance

 Financial services

 Model validation
 KYC/compliance

 Procurement

 Spend analytics

 

Indeed, it’s increasingly important that real-time, drill down dashboards are built into all services, and what-if modelling is becoming increasingly common here in support of for example supply chain optimization.

Analytics is also helping BPO to move up the value chain and open up new areas of possibility such as marketing operations, where traditional areas like store performance reporting are now being supplemented by real-time predictive analytics in support of identifying the most appropriate campaign messaging and the most effective media, or mix of media, for issuing this messaging. So while analytics is still being used in traditional areas such as spend analytics to drive down costs, it is increasingly helping organizations take real-time decisions that have high impact on the top-line. Much more strategic and impactful.

The next disruptive force to be covered is less obvious - labor arbitrage within labor arbitrage.

Part 1 The Robots are Coming - Is this the end of BPO?

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