2019 AWARD FINALIST SPOTLIGHT: Cognizant Technology Solutions - Finalist in the Data Analytics enabling Operational Excellence Category

Read this article about Cognizant Technology Solutions, one of our finalists, in the category Best Achievement in Data Analytics enabling Operational Excellence, selected by the independent judging panel, for the 2019 Business Transformation & Operational Excellence Industry Awards program. Click here to read articles on other finalists.

Text Analytics driven smart process interventions to influence business outcomes

Cognizant’s Digital Operations helps in the transformation of their operating model focusing on middle office operations and core process re-imagination with the mandate of making customer’s business processes digital ready. Cognizant ProcessONE® is our operational excellence and transformation framework encompassing all functional improvement projects/initiatives/business problem solution identified and implemented, creating sustainable value for the client including value creation through embedded Analytics.

Cognizant Digital Operations Analytics uses machine learning algorithms, AI/cognitive computing to leverage key information contained in structured and unstructured data extensively captured in business operations. Analytics interventions are embedded in business processes to drive significant business impact in the following areas

Operations Optimization – Improving operations and reducing cost with proactive insights and actions for enhanced throughput, higher quality, and faster turnaround time

Revenue Enhancement – Identify and grow revenue opportunities for our clients across offerings, products and services across customer, geography and advertising

Cost Reduction – Directly reduce the cost of clients go to market and their end customer interactions and services

Improved Customer Experience – Improve our clients’ end customer experience across all interactions and channels

Unstructured data in Business Operations

It’s a well-known fact that organizations that act on data based insights have significant competitive advantages. In Business Operations, much of key information is captured in a plethora of unstructured fields and formats, e.g. ticket descriptions, agent comments in back office processing, treatment plan of a physician in claims processing, call transcripts in contact centers and so on.

“Making Sense” of texts and phrases is critical to drive summarization, content recommendations and prediction of next best action. This is where text analytics comes into play and can derive actionable insights from Text generated by customers, operations, businesses & competitors.

Text Mining in Business Operations

Text Mining is an evolving data science field with an ever growing technological footprint of algorithms

• Traditional approaches – used to understand the overall distribution of words in a text body/corpus through Rule based models, Topic Modeling and Word clouds/Word Frequency based models
• Natural Language Processing (NLP) used when classification is to be done using ML techniques (like Naïve Bayes, Decision Tree Based models etc.) using bag of words, word Vectorization, Markov models etc.
• Deep learning driven NLP – used when the overall context of the text is important like RNN / LSTM, CNN, Word Embedding

Cognizant Digital Operations Analytics uses most of the above listed algorithms to generate solutions like

1. Feature extraction from Natural Language Texts and variable structure Forms or documents (e.g. pdf files)
2. Text Classification
3. Establish trends in text
4. Sentiment Analysis

The information thus collected from these solutions are then used as inputs to other forms of analytical interventions like predictive models and recommendation engines. These models and engines are embedded in the Digital Operations processes that empowers decision making at the agent, supervisor, process owner and business owner levels within their day to day areas of responsibility and activity.