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October - 2014 - issue > CXO View Point

21st Century Data Analytics: Reducing & Managing Consumer Risk

By Daniel Ziv, Vice President, Voice of the Customer Analytics, Verint Systems
Monday, November 24, 2014
By Daniel Ziv, Vice President, Voice of the Customer Analytics, Verint Systems
Verint Systems (NASDAQ: VRNT) provides analytic software and hardware for the security, surveillance and business intelligence markets. Headquartered in New York, the company has a current market cap of $3.25 billion.

Organizations have been using data analytics to analyze their business data for insights for enhancing sales and profits, developing better products to meet market needs, and understanding the competition for a number of years now. Large companies have teams of analysts crunching business data all the time.

With the emergence of big data, and the availability of tools to mine unstructured big data, this has opened up new possibilities of using data analytics to gain a competitive advantage for organizations. One new area, is the volume of interaction data (voice, text, social media) that is collected through the customer engagement process, and using the data to deliver a superior customer experience or to reduce consumer risk for the business.

Reducing & Managing Consumer Risk

Over the last few years, more and more organizations have come to realize that interactions with customers � through the contact center, via social media and in retail stores � are becoming a significant area of potential risk that needs to be carefully managed.

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