NICE Introduces Industry Benchmarks, Enhancing Brand Loyalty with Generative AI

NICE has introduced "Industry Benchmarks," a feature that enhances the capabilities of its AI-powered platform - Enlighten Action. This feature utilizes generative AI powered by large language models to foster stronger brand loyalty among consumers. Additionally, it enables business users to interact with data more conversationally, making it easier to derive valuable insights and improve overall business performance.

“The ability to ensure the highest level of service is key to creating and increasing brand loyalty and to creating differentiating CX. The addition of Industry Benchmarks to Enlighten Actions is a significant leap forward and is quickly becoming a must-have for organizations in their constant effort to enhance and optimize their customer experience,” said Barry Cooper, President, CX Division, NICE.

Enlighten Actions Industry Benchmarks offers companies access to valuable anonymized data from over 75 industries, specifically at the interaction level. This data includes different metrics related to customer interactions, such as call reasons, handling time, customer satisfaction (CSAT), agent behaviors, complaints, sales effectiveness, scheduling levels, training, automation, and more.

By leveraging this benchmark information, companies can understand how their operations compare to their specific industry. This insight allows them to identify opportunities for improvement, optimize their service and training processes, and potentially reduce costs by implementing more effective self-service solutions.

According to Dan Miller, the lead analyst at Opus Research, brands from various industries are actively seeking ways to utilize conversational AI effectively to enhance employee performance and achieve better financial outcomes. NICE's Industry Benchmarks offers a significant opportunity for executives to leverage the capabilities of generative AI and large language models. By doing so, they can ensure that their customer and employee experiences surpass those of their competitors, leading to improved overall performance and success in the market.

Just a few days ago, NICE unveiled the "1K Every Day" initiative under its ElevateAI platform, aiming to expand access to its on-demand AI services for organizations of all sizes.