Many of today’s organizations base their business decisions largely on structured data, such as credit card transactions and revenue reports. This kind of data is often easy to find and analyze because it exists in predefined formats that help companies determine which benchmarks to meet or exceed in the future.
However, this information does not tell them what drives their customers and how to attract and retain them. The reality is that most enterprises sit on top of a wealth of untapped customer data packed with valuable, yet untapped, insights. That’s where contextual AI comes in. This technology that allows algorithms to process and perceive information in the same way as humans.
Today, there is a growing number of customer intelligence platforms that use AI and machine learning to understand, resolve, and evaluate structured and unstructured data in enterprises.
Contextual AI and Customer Intelligence
One company that is making waves in this area is Palo Alto-based Idiomatic, which just announced the close of a $4 million starting round led by Freestyle, a venture capital firm specializing solely in seed stage companies. Idiomatic plans to use the funding to further expand its solution offering and expand its reach in consumer internet, e-commerce, retail and technology markets.
With extensive experience at companies processing massive amounts of complex data, Chris Martinez and Kevin Yang founded Idiomatic in 2016 with the goal of eliminating the pain points associated with collecting customer feedback. The two knew there was a big market for a tool like this. After all, studies show that more than 87% of senior business leaders cite customer experience as their top growth driver, but only one in three feel equipped to tackle it.
“The most common types of feedback we analyze are customer support tickets, satisfaction surveys, ratings and social media inquiries,” Yang told VentureBeat.
Idiomatic cross-references with other available metadata, such as customer segments or geography. To date, Idiomatic has analyzed over 100 million pieces of customer feedback for their customers.
The distinguishing factors of Idiomatic
Martinez explained that Idiomatic’s proprietary technology integrates the context of any business into powerful natural language processing models. This allows Idiomatic’s AI to analyze customer feedback more accurately than human experts working at those companies.
Thanks to data integrations with customer support platforms such as Gladly, Salesforce and Zendesk, as well as cloud-based survey, assessment and social media platforms, Idiomatic has the ability to consolidate data spread across multiple systems. This technology then converts that feedback in real time into understandable labels for every channel, even for larger companies.
While countless customer-facing companies now collect millions of customer data points from various digital sources, Idiomatic claims that few can efficiently analyze disparate feedback to improve the customer experience.
“None of our competitors take the time to create new AI for every company they work with,” said Marinez.
Idiomatic’s competitors in the space include UserVoice, Clarabridge, Qualtrics, and InMoment.
“Idiomatic classifies customer feedback more accurately and in more detail than other platforms because we incorporate the unique business context for each customer into our machine learning models,” Yang said. “We are the only solution on the market that creates new training data for every company we work with.”
Yang and Martinez named companies such as Pinterest, Instacart, Upwork and HubSpot as Idiomatic customers.
“By working with these leading customer experience teams, we’ve learned what insights matter, and we’ve incorporated those insights directly into the product so that all of our customers can benefit,” said Yang.