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Tuesday, September 28, 2021, 12:01 AM

During the COVID-19 Pandemic, Advanced Analytics Improved Customer Experience

The COVID-19 epidemic in 2020 posed many difficulties for our cardmembers, the most significant of which was financial. Individuals who found themselves working from home or receiving unexpected medical costs; business owners who witnessed a sharp drop in clientele as a result of stay-at-home requirements; and others who found themselves out of work completely faced unexpected expenditures. Discover's current monitoring systems immediately alerted our staff to our clients' inability to make payments on time or at all. It was obvious that finding a quick solution was essential.

The Greenhouse method was created when our Data & Analytics team leapt at the opportunity. Greenhouse molded a vision for a system that incorporates a real-time, event-based architecture to detect and react to consumer events in minutes, bringing an idea from concept to prototype in six weeks. We focused on three different areas as we started our innovation journey: speed to value, the way we work, and engineering innovation. The ability of cross-functional teams to adjust their attitude and be enthusiastic to constantly innovate on new ideas was at the heart of it all.

An end-to-end, real-time data pipeline was used to provide a real-time response. During a period when there was a lot of uncertainty, this enabled us to rapidly identify and react to consumer requirements. We also recorded events from consumers engaging with our website, allowing us to build a real-time monitor and predict when clients would alter their payment habits while using their Discover Card. Finally, we integrated the event with the customer profile to examine their contact preferences and past payment trends in order to test and learn how we might assist in payment delinquency alleviation. We were able to achieve a final solution in 6 weeks by including a contemporary data architecture and using real-time analytics and machine learning.

The Greenhouse project was designed to assist our cardmembers and avoid payment delinquencies during the COVID-19 epidemic, in keeping with our customer-centric approach to all areas of our company. Greenhouse established a new standard for solution development, cutting the duration from months to weeks. We were able to create a genuinely real-time response model by focusing on the user experience and utilizing end-to-end, event-driven data, analytics, and decision making. In only four months, the Greenhouse venture's total return on investment has surpassed tens of millions of dollars. In terms of our workers, we saw teams of engineers given the freedom to make choices and use the tools they want, all in the sake of providing a better customer experience. We're sure that Greenhouse has changed the way we'll work in the future.