In this “In The Know” podcast from our friends at Idio, Lori Beida, Head of the Analytics Centre of Excellence at Bank of Montreal (BMO), discusses how an industry reliant on interpersonal relationships and interactions is struggling to evolve with the digital world. Taking on analytics and a fact-based, data-driven approach has allowed them to make better decisions by bridging the gap between the company’s capabilities and the needs of the customer.
Insight from applying journey science approaches to connected journey data from ClickFox has enabled BMO to think like the customer and see things from their perspective. By focusing on the needs of each customer, they are empowering them and creating a bank that allows them to bank the way they like to bank. Bieda says that journey sciences has helped BMO completely transform the client experience through increased CSAT rankings, reduced digital leakage, and increased overall revenue.
Lori goes on to discuss how competing in today’s market requires the ability to have access to the best information and assembling that data into journeys so it can be analyzed in granular detail. “Understanding unstructured data and putting it into formats that we can get our heads around are where the answers lie,” says Bieda. Companies that are fact based, apply journey science principles while thinking like the customer, will make the best decisions and succeed in the digital world.
While journey sciences is bigger than us, ClickFox is proud to be the creator and curator of this advanced journey analytics methodology. To learn more, please take a moment to join the Journey Sciences LinkedIn group.
The Essential Journey Toward Journey Analytics
WHY BUSINESSES MUST DEVOTE THE ORGANIZATIONAL ENERGY TO TAP INTO THE POWER OF JOURNEY SCIENCES – A NEW KIND OF TRANSFORMATIONAL ANALYTICS - TO DRIVE ENHANCED CLIENT EXPERIENCE, BETTER OPERATIONAL EFFICIENCIES AND IMPROVED REVENUES.
— MARCH 2016