Drive Field Service Excellence using Predictive Analytics

As a result of the recent and growing burst of new technology, predictive analysis is one of the key factors today that lays an impact on the future of business, especially those involved in services related to customer engagement.

Apart from improving the company’s key performance being the obvious factor driving the organisations to consider investing in predictive analysis, it is also the challenges faced by these leaders that’s impelling them for the same. Like in the current competitive market, companies can no longer rely on their products or pricing to stand apart. Sustaining customer relationships is becoming the name-of-the-game to stand concrete amongst the others. 

It is quite satisfying and fascinating from a customer’s point of view if the company calls them to let them know that the thermostat of their fridge is beginning to heat up beyond a threshold level and should be fixed to prevent the further costs of changing the entire part (Service before failure - based on prediction on basis of the signals that these products continuously send to the company’s servers). This makes them realise that the company does value their time and money over its own profits. 

At the same time, it can be useful for more efficient scheduling of the technicians as the system can calculate exactly how much time the technician will take to fix an issue and hence setup his further appointments and not rely on a human scheduler to invest his time on the same. 

Also, for implementing this strategy, it is inevitable for organisations to have a centralized knowledge base to maintain the data of the past, present and upcoming technicians, products, customers, services and articles for addressing different issues. This in turn encourages businesses to use data quality and integration tools. The knowledge from this data can help to increase sales, for instance, by cross-selling or upselling a particular product. (Example – The system suggesting the salesman to sell the study lamp with a study table based on the past record of the two products being sold together). 

Yet another add-on benefit of predictive analysis for companies can be in partner relationship management. Information that is collected by employees of the partner company can help increase the accuracy of judgement generated through predictive analysis. 

Hence, considering the wholesome profits that comes with the wisdom of predictive analysis, it is no wonder that efficient use of this analysis is reason behind the success of 86% of the organisations of the top 20% of the organisations today. (acc. to Aberdeen Group’s report on Use predictive analysis to drive Field Service Excellence, June 2017)