NTT DATA’s patent involves a method using computer systems to identify transactions, determine Customer Friction Factor (CFF) scores, compare them with industry standards, and identify friction points to reduce abandonment and improve transaction conversion. This innovation aims to enhance customer experience and increase business efficiency. GlobalData’s report on NTT DATA gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on NTT DATA, was a key innovation area identified from patents. NTT DATA's grant share as of February 2024 was 48%. Grant share is based on the ratio of number of grants to total number of patents.
Method for evaluating customer friction to improve transactions
A recently granted patent (Publication Number: US11854031B2) outlines a method for providing quantitative evaluations of friction within a customer experience to reduce abandonment and improve transaction conversion rates. The method involves identifying transactions, determining Customer Friction Factor (CFF) scores based on transaction information, and pinpointing friction points that negatively impact customer experiences. By addressing these friction points, the method aims to enhance transaction outcomes.
Furthermore, the patent details additional steps such as identifying personas, industries, transaction types, and proximities relevant to the customer experience to tailor the evaluation process. The CFF scores are influenced by factors like industry, transaction type, proximity, and persona associated with each transaction. The method also highlights the correlation between CFF scores and customer satisfaction, abandonment rates, and transaction conversion rates, with lower CFF scores indicating higher customer satisfaction and improved transaction outcomes. By providing a structured approach to analyzing and addressing friction points in customer experiences, the patented method offers a systematic way to enhance overall transaction processes and outcomes across various industries and transaction types.
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