Pune- based Nihilent,a consulting and solutions integration company,on Wednesday announced the launch of a complete service based on its newly patented predictive Customer Loyalty Evaluation (CLE) model. The patent,titled ‘System for Evaluating Customer Loyalty’,helps businesses to successfully identify loyalty drivers and retain customers.
Addressing a press conference LC Singh,CEO,Nihilent said CLI determines an index for loyalty termed the Predictive Loyalty Index (PLI). Within the next few weeks,CLE is further being incorporated into a web-based tool named 14signals for Micro,Small & Medium Enterprises (MSMEs),which will be collaborated by Nihilents consulting practice, he said.
The company has partnered with the Indian Statistical Institute (ISI) for their expertise in delivering detailed and valuable findings using a wide range of statistical analysis methods. Nihilent plans to publish loyalty benchmark reports for various industries that will help companies to benchmark theirs own against the industry, said Singh.
He said the CLE is based on the analysis of the experience of the customers in comparison with their expectations for a service. Through our new patent,which we believe is the first in the category worldwide,businesses can calculate the PLI of customers,forecast trends and preferences over a period,track areas of improvements,and identify the opportunities for innovation,Singh added. Speaking at the launch,Subrata Rath,head,Statistical Quality Control and Operations Research Unit of the Indian Statistical Institute,Pune said,CLE lets one design a customised customer loyalty survey for an organisation and creates an index to benchmark from. Its innovative and scientific model helps establish and track performance based on the critical elements found to drive loyalty. We have brought expertise in the application of statistics,assisting in defining the survey objectives and scope,formulating the sampling methodology.