Pegasystems this week announced a new feature for identifying “underserved” customers – those less likely to accept an offer. Known as Value Finder, the feature is part of Pega’s Customer Decision Hub software, which uses artificial intelligence to send customers targeted offers and support.
If a customer is below a five per cent threshold for likeliness to accept an offer the software categorises them as underserved, which can trigger certain messages or campaigns based on an organisation’s own rules.
Pega says it means all customers can receive personalised communications, rather than just premier or high value ones.
Value Finder will be available in October as part of the latest version of Pega Customer Decision Hub version 8.5.
Pegasystems’ customer management and engagement software is popular with banks and financial services and claims to allow organisations to crunch billions of data points with AI and machine learning to identify segments. In Australia the software underpins the Commonwealth Bank’s award winning mobile app.
In recent years the US company has added empathy and ethics tools to the software to show metrics on relevance, suitability and value to the customer in addition to traditional financial and retention measures already available.
The latest Value Finder addition to the Pega Customer Decision Hub is about improving engagement, according to Dr. Rob Walker, vice president, decisioning and analytics, Pegasystems.
“Marketers and customer experience professionals talk a lot about 1:1 engagement, but in practice, they’re usually forced down the path of least resistance.
“It’s much easier to shoehorn customers into existing campaigns than to ensure there’s relevant content for every individual. With Value Finder, Pega has removed another barrier on the path to 1:1 engagement by making it easier for organisations to identify and remove the gaps in their engagement programs. Now they can nurture all their customers with the most relevant messages and offers.”