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Study Shows Business Intelligence Increases Customer Retention

December 17, 2007

Looking to keep your customers? Of course, every business will say "yes" to that question, but the trick is in the details. What are you willing to do to keep your customers? You have a number of options, but times being what they are, you need to put your resources into methodologies that have been proven effective. Business intelligence, a new study shows, is one of those methodologies.

ServiceBench, a provider of Web-based service management solutions, today announced that it has sponsored an Aberdeen (News - Alert) Group research report examining business intelligence adoption rates and best practices across 250 field service organizations. The study revealed that leveraging post-sales service intelligence enabled best-in-class companies to boost service profitability by 18 percent and increase customer retention by 42 percent.

“Top organizations have realized the value of having accurate, readily available information to drive service decisions,” said Micky Long, Research Director at Aberdeen Group. “By leveraging technology and applying the right business processes and workflows, organizations are making better, more informed decisions, providing better analysis of service performance and giving service executives the tools to perform rigorous business analysis. The result is reduced costs, better customer retention and higher service profitability.”

Aberdeen used financial, operational and customer-facing performance indicators to determine best-in-class organizations in terms of balanced service performance. The study found that best-in-class service organizations are adopting data analysis tools, common knowledge bases, and simulation modeling technology to increase the speed and quality of post-sales service decision-making. These service providers are two and a half times more likely than laggard organizations to analyze service data daily or in near real-time, and are leveraging this data through centralized service management solutions to meet customer commitments, drive forecasting and improve financial tracking.

“This research confirms the dramatic results that our customers are achieving through the use of ServiceBench’s Service Intelligence solution” said Michael Dering, CEO of ServiceBench. “The ability to track Service Intelligence using a Web-based solution enables service providers to respond to customers more quickly and efficiently, generating additional profit, improving SLA compliance and increasing customer retention.”

The Aberdeen Group’s “Get Smart: Business Intelligence for Service Organizations” study identified emerging best practices for Business Intelligence and Analytics usage in the post-sales service environment. Information utilized in the study was gathered through an online survey by Aberdeen from over 250 service operations professionals in a diverse set of industries, supplemented by telephone interviews with select survey respondents.

For more information about the report, visit: http://www.aberdeen.com/link/sponsor.asp?spid=30410351&cid=4189.

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Don’t forget to check out TMCnet’s White Paper Library, which provides a selection of in-depth information on relevant topics affecting the IP Communications industry. The library offers white papers, case studies and other documents which are free to registered users.

Today’s featured White Paper (News - Alert) is titled VoIP Doesn’t Require Any Phone Equipment Investment, brought to you by Accessline.

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