Opinions expressed by Digital Journal contributors are their own.
The competition in e-commerce and the digital world is getting tougher and more demanding, so businesses constantly seek new ways to improve their customer experience and drive growth. One of the most effective methods for achieving these goals is using customer-centric business solutions, focusing on creating personalized experiences that meet each customer’s unique needs and preferences.
To achieve this level of personalization, businesses are turning to technologies such as data analytics and AI to allow companies to analyze high-volume customer data, identify patterns and trends, and create tailored experiences that meet each customer’s specific needs.
One individual who has been at the forefront of this digital transformation is Mythili Banka. Through her innovative approach to customer-centric business solutions powered by her 13 years of experience in the industry, she has demonstrated the power of data analytics and AI in delivering superior customer experiences.
Understanding the role of data analytics and AI
According to Banka, data analytics is crucial in understanding customer behavior. She highlights that data analysis from various sources allows businesses to gain insights into customer preferences, behaviors, and pain points. This information can then be used to create personalized experiences that meet each customer’s specific needs, helping companies establish customer-centric approaches.
Banka also adds how AI technologies, such as machine learning and natural language processing, can automate tasks and improve efficiency. For example, chatbots can be used to provide instant customer support, while predictive analytics can be used to anticipate customer needs and proactively address issues before they occur.
Combining data analytics and AI can also help businesses identify patterns and trends in customer data. By analyzing large datasets, companies can uncover valuable insights that would be difficult to identify through manual analysis. This information can help drive data-driven decisions like product development and marketing strategies that improve customer engagement and loyalty, leading to measurable business outcomes.
Banka at the forefront spot of digital transformation
As the Director of Data Management, Banka has witnessed firsthand the growing importance of data analytics and AI to make efficient processes and create more personalized, customer-centric business solutions. She understands that businesses are under immense pressure to provide superior customer experiences, and technology has become a key driver in achieving this goal.
Banka leverages her Bachelor’s Degree in Computer Science from Sastra University and her Master’s in Management Information Systems and Services from the University of Delaware to set out and explore the world of data analytics. Her journey led her to land roles as Senior Engineer and Business Technology Consultant, where she led projects across various industries that enabled her to further understand and utilize data analytics and AI.
In her current position, Banka is playing a key role as a part of an omnichannel personalization project at a financial institution, where she ensures her customers achieve the best customer experience through data-driven strategies and upgraded technologies.
Banka’s approach to customer-centricity in business operations lies in her expertise in combining data analytics and AI to create innovative recommendation engines across various industries, from telecom, finance, and retail, that optimize customer interactions and enhance engagement and loyalty. She helps businesses establish an efficient omnichannel customer service recommendation engine using Business Process Management (BPM), AI, and Decisioning platforms.
Through her omnichannel strategy, Banka’s end goal is to provide her customers with a consistent and personalized experience across all channels, allowing them to interact with them in an engaging, convenient, and effective way.
In addition, as a Pega Decisioning Architect, Banka can design and implement complex recommendation engine solutions that are both effective and efficient. Pega Decisioning is a tool that uses AI and machine learning to analyze customer data and automate decision-making processes. She is skilled in using Pega Decisioning tools to create personalized recommendation engines for different businesses. She designs and implements efficient recommendation engines that run smoothly, process large amounts of data, and provide real-time recommendations.
Recognizing her expertise, Titan Women in Business Awards 2023 recognized Banka as Gold Winner for Female Executive of the Year, and Gold Winner for Management Team of the Year, recognizing her excellence in leading with vision and pioneering products such as the recommendation engine using AI and a cloud-based centralized decisioning platform named Pega CDH.
At the same time, Banka has earned her a position in the esteemed India Book of Records, and nominations for the Globee Women In Business, under the category of Transformation Leader of the Year, Committed Professional of the Year, and Globee Women in Business: Rising Start of the Year for her approach in harnessing the power of data analytics and AI to improve businesses’ customer-centric solutions.
Digital transformations: improving interactions
Despite fully understanding how these technologies facilitate improved products and services, Banka emphasizes that it is still not a replacement for human interaction. Rather, it is a powerful tool to improve it.
She explains, “Leveraging data analytics and AI represents a powerful tool for businesses seeking to strengthen their customer relationships, achieve significant competitive advantages, and drive growth in their respective industries.”
Customer-centric business solutions that leverage data analytics and AI have become increasingly popular in recent years and for a good reason. These technologies allow businesses to gain valuable insights into customer behavior, identify patterns and trends, and create personalized experiences that meet each customer’s unique needs and preferences.
Using effective approaches such as Banka’s, businesses can make sure they can optimize data analytics and AI to deliver outstanding customer service while paving the way for their growth and increasing revenue.