Roles Reimagined with CX Automation
Meet Juan, a WFM Analyst
Juan is a workforce management (WFM) analyst at a large health insurer. It’s open enrollment season, and he needs to create a time-series forecast for the upcoming two weeks, reflecting seasonal volumes.
A time consuming, manual task
Juan is dreading the task, because it will likely take him the better part of two to three days to gather the historical volumes by channel, choose which algorithms he thinks will work best for this scenario, build a basic forecast, and then manually layer on adjustments for seasonality and other factors he knows will impact the forecast.
Juan also typically builds in a buffer, to make sure he has enough agents to handle the calls and meet service goals. But he knows that for every 1 percent off in forecast accuracy, he’s costing the company around $6,000 in underutilized capacity each week – that’s $300,000 annually! Luckily for Juan, the insurer just adopted Verint Workforce Management.
Juan
Workforce Management Analyst
Automated demand forecasting
With Verint Workforce Management, many of the steps to create a forecast are automated, freeing up Juan’s time and increasing the accuracy of his forecasts as there’s less manual manipulation. For example, the solution captures volume data and related statistics from all channels, including asynchronous work. It automatically factors in seasonality (open enrollment) and chooses the best forecasting algorithm for each channel, work type, and forecasting parameter.
Data correlations
Verint WFM recognizes relationships between factors that can impact the forecast. So instead of Juan having to analyze the data to try and identify trends and correlations, WFM does it for him. For example, it may see a correlation between increased emails and increased sales inquiries, which have longer handle times. The solution will automatically account for these patterns when creating the forecast.
External factors
Juan has been surprised more than once with unforeseen events that have impacted his carefully planned forecasts, like last-minute marketing campaigns, changes in regulations or policies, etc. With Verint WFM, he can integrate external data sources, and the solution automatically adjusts the forecast, making it more accurate and statistically valid.
Increased analyst capacity
Verint Workforce Management not only cuts the time Juan spends on creating forecasts by 75 percent, but also greatly increases the accuracy of the forecasts – typically by 95 percent or more. The insurer now has the right number of agents to respond to members quickly, delivering a better, more cost-effective customer experience, even during high-volume times like open enrollment.
Other roles reimagined resources
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