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Next Best Action the New revolution in Marketing: An Exploratory Study


Affiliations
1 Manager, Tech Mahindra Limited, United Kingdom
 

Next Best Action (NBA) is the new buzz word coined in new age Marketing of products and services. The researcher has carried out literature review with aim to understand the implications of NBA. Few cases of implementation were studied to understand the focus of implementation and benefits realized. NBA as a technology helps the organizations to reap the long-term benefits of customer retention, study patterns and provide customer with what they need.

Keywords

New Best Action, Best Next Action, Next Best Activity, Data Science
Notifications

  • Allen, J. (2018, August 1). “Real-time intelligence”, Pega. www.pega.com. https://www.pega.com/technology/real-time-intelligence
  • BlueVenn, T. (2020). “What is Next Best Action and how to use it to evolve the customer experience? “BlueVenn. https://uplandsoftware.com/bluevenn/resources/ blog/what-is-next-best-action-and-how-to-use-it-to-evolve-the-customerexperience/# :~:text= Next%2 0Best%20Action%20(also%20known
  • Brett, L., Love, R., & Nuraw, S. (2020). “Next Best Action Driving customer value through a rich and relevant multichannel experience in Financial Services … to understand customer needs … … and drive customer value Using analytics” https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/consultancy/deloitte-uk-con-next-best-action.pdf.
  • Brian & Company. (2020, September 8) “Next-Best-Action Model. www.Bain.com; Brain & Company”. https://www.bain.com/insights/customer-experience-tools-next-best-action-model/#:~:text=Customer%20Experience%20Tools%20and%20Trends
  • Cao, L., & Zhu, C. (2022). “Personalized next best action recommendation with multiparty interaction learning for automated decision-making”. PLOS ONE, 17, e0263010. https://doi.org/10.1371/journal.pone.0263010
  • Gratton, C. (2004). “Research methods for sport studies” (pp. 6–20). Routledge. (Original work published 2022)
  • Hardy, S. (2019, January 19). “An architecture for enabling next-best-actions for your customers” Blogs. Ambiata.com. https://ambiata.com/blog/2021-01-21-architecture-next-best-actions/
  • Jobber, D., & Ellis-Chadwick, F. (2016). Principles and practice of marketing (8th ed., pp. 412–425). Mcgraw-Hill Education. (Original work published 2022)
  • Journal, I., Naik, R., & Sharma, S. (2019). Next Best Action Using Prediction Analysis. IJCSMC.https://www.academia.edu/38859590/Next_Best_Action_Using_ Prediction_Analysis_
  • Miller, G. (2020). This Year’s Most Important Customer Loyalty Statistics | Annex Cloud. Www.annexcloud.com; www.annexcloud.com. https://www.annexcloud.com /blog/ultimate-customer-loyalty-statistics/
  • TIBCO. (2021). What is Next Best Action? TIBCO Software. https://www.tibco.com/reference-center/what-is-next-best-action

Abstract Views: 48

PDF Views: 13




  • Next Best Action the New revolution in Marketing: An Exploratory Study

Abstract Views: 48  |  PDF Views: 13

Authors

Rajendrakumar Patil
Manager, Tech Mahindra Limited, United Kingdom

Abstract


Next Best Action (NBA) is the new buzz word coined in new age Marketing of products and services. The researcher has carried out literature review with aim to understand the implications of NBA. Few cases of implementation were studied to understand the focus of implementation and benefits realized. NBA as a technology helps the organizations to reap the long-term benefits of customer retention, study patterns and provide customer with what they need.

Keywords


New Best Action, Best Next Action, Next Best Activity, Data Science

References





DOI: https://doi.org/10.17697/ibmrd%2F2022%2Fv11i2%2F172610