Untapping the true potential of customer feedback
With the advent of the new millennium and the ever-evolving technology, businesses now need more than just good products and services to stay ahead of the curve. Customization and customer feedback are no better-to-haves; today, businesses need to be smarter and more sensitive towards customer sentiments and feedback if they are to fuel growth and lead in innovation.
Unfortunately, though, for most organizations, the communication with customers is quite standard and binary, just like their systems. While our customers today are looking for unique experiences and customized services, a lot of our systems are unable to match those, resulting in inaccurate and incomplete feedback from customers.
Challenge
The launch of Careem in Pakistan in 2016 finally gave people the power of choice when it came to public transport. It was a simple yet brilliant technology-driven solution that connected the transport system for the people, and by the people, while not owning any vehicles of their own. In a country where public transport remains a challenge, this was truly a remarkable solution.
A few years into the business though, the Careem team realized an obstacle that was hindering their path to getting closer to customers. If a customer is facing a problem, Careem gives an option to select a category and leave a comment under that. However, it was noticed that customers would often choose the wrong category, which would require manual intervention and result in extended problem resolution time.
Solution
LFD, with its focus on robust statistical modelling, created a product which can re-categorize comments into their correct categories with an accuracy of approximately 75%. The algorithm is flexible and can be adapted to all languages. With our complex modelling techniques, our algorithm naturally adapts to the identity of the company, allowing the company to identify its own categories in which it needs the comments to be sorted and add categories if need be.
Result
Thus, through correct categorizations with a high accuracy, LFD allows Careem to respond to customer complaints more efficiently, helping deliver a better customer experience.
While most tools in the market focus only on sentiment analysis and are limited to a few languages, our algorithm is unique in that it allows customers to convey their feedback in exactly the way they want, and in the language that they want. Thus, the company receives pure, unfiltered but organized and categorized customer feedback, which is gold, for most organizations.
Our algorithm is based on the varied, exhaustive 10 years' long experience of LFD's scientists with text mining and text analytics, and the methodology is proprietary to LFD.
