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Digital Transformation in Wealth Management | Financial Domain Testing

Fintech companies may use digital wealth management platforms to get the latest integrated tools and data-driven analytics they need to empower their advisors to give smart solutions.

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What Are the Trends for QA in 2022?

The pandemic has accelerated the adoption of digital technologies across domains. These technologies have brought the benefits of digitization to the fore and changed our lifestyle for the better. Consequently, activities such as working from home, making digital payments, and ensuring door-step delivery of products have become commonplace. Digitization has whetted the appetite of customers for better quality products and services and has accelerated their expected time of delivery. The earlier complacency or even frustration of customers in accessing products and services across the omnichannel environment has given way to alacrity.

Accordingly, customers brook no delay in delivery and do not countenance any sub-par quality in products or services. For instance, when using a banking website or app, customers want to complete the transaction quickly and safely without any outages or interruptions. Besides, customers want the services to be available 24 hours a day, 7 days a week, and be accessible from anywhere in the world. Business enterprises are aiming at developing faster, scalable, connected, and intelligent software applications to reach out to their customers better. This has necessitated changes in the software testing services based on specific drivers.  

Drivers changing software testing in 2022 

Given the prominence of software testing in the entire digital landscape, software testing companies are adopting specific drivers to facilitate testing in 2022. Let us find them in detail.

# Implement Agile and DevOps methodologies: With achieving a superior customer experience becoming the primary objective of any software application, business enterprises are looking to implement Agile and DevOps in their value chain for better and quicker delivery of software. Agile entails better collaboration among cross-functional teams in small iterative processes called sprints to deliver quality outcomes quickly. It is mainly confined to development and testing, leaving operations or production out of its ambit.

DevOps technologies, on the other hand, break down silos between departments and/or processes and deliver software applications quickly, safely, and at scale. This has been of help in performing repetitive processes, such as regression testing, quickly and accurately. With the demand for quality software applications soaring and their safe and quick delivery to customers becoming the need of the hour, software testing services have their task cut out. They need to identify the risks, vulnerabilities, or bugs quickly and cost-effectively.

Leverage AI/ML to build intelligent applications: Artificial Intelligence or Machine Learning technology is used by business enterprises, especially in the domain of e-commerce, to deliver superior customer experiences. They do so by gaining insights into customer behavior, offering curated recommendations, resolving grievances, and others. AI-based software quality assurance uses AI/ML algorithms to test a software product quickly, accurately, and effectively. The algorithms identify patterns to predict future trends, search for visual bugs present in the application’s user interface, and validate the quality of the application. AI-based tools can also be used to maintain and extract the test scripts for various QA testing requirements.

Creating scalable applications using containerization and microservices: Business enterprises are building distributed systems using containers and microservice architecture to scale their computing environments quickly when there is a demand. Containerized software applications offer scalable computing environments that can be rapidly deployed into any cloud using few resources. However, these services are beset with challenges and are prone to attacks given that they are loosely coupled or dependent. In other words, the failure of one service could lead to the failure of the whole software application. This calls for crafting a proper test strategy by any software testing company to verify and validate the interactions among microservices using smoke and sanity testing before deploying the application or any new feature to production.  

Developing applications with APIs: APIs connect the backend and UI in a distributed system to facilitate data transfer across systems. With the use of microservices on the rise, API usage has seen an increase as well. For instance, in e-commerce, a multitude of services such as product search, catalog, inventory recommendations, and order submissions, among others, are connected using APIs. However, notwithstanding the critical role of the APIs, they are vulnerable to threat actors as well. Hence, to eliminate the vulnerabilities, the APIs need to be tested for security risks to ensure businesses and their stakeholders (employees, customers, and partners) get to use a reliable and secure platform. This is where a rigorous and overarching software testing process can be put in place, one that adheres to industry and regulatory standards.

Implementing QAOps: QAOps or DevTestOps combines QA services (QA) and IT Operations (Ops) in the SDLC and works towards delivering quality software applications to the market in quick time. QAOps entails collaboration between developers and test engineers by integrating quality assurance services into the CI/CD pipeline. This is slowly going to be the next big thing in the world of quality assurance.

Scriptless test automation: Today, business enterprises are willing to develop, test, and deploy myriad software applications at a fast pace. This means testers belonging to QA testing companies need to continually learn new programming languages and take care of the backlogs. Needless to say, this can be a mind-boggling challenge that needs to be tackled. In scriptless test automation, testers use tools to write automated test scripts combining AI/ML algorithms to deliver quick results. These tools eliminate the need for testers to learn new programming languages and can be handled by non-technical users as well. Easy to maintain, scriptless test automation tools are user-friendly and deliver faster results.

Conclusion    

In addition to the above-mentioned trends, business enterprises can leverage shift-left testing, autonomous testing, IoT test automation, big data testing, and others to ensure the release of high-quality products. They need to be on top of these drivers to stay competitive in the fast-changing industry.

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James Daniel is a software Tech enthusiastic & works at Cigniti Technologies. I'm having a great understanding of today's software testing quality that yields strong results and always happy to create valuable content & share thoughts.

Article Source: devdojo.com

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How Can DevOps Transformation Services Speed Up Digital Transformation?

Digital transformation has allowed business enterprises to relook at their business models and find ways to accelerate their workflows. It is now a foregone conclusion that the future will belong to those who are fast, agile, and innovative. Every business enterprise worth its salt is eyeing the fast-changing dynamics of the market and is aiming to - release new products quickly to the market, innovate fast, become agile, and embrace new ways to work. No wonder, digital transformation has become the way to go for enterprises, confirmed by two-thirds of CEOs, according to IDC. And when it is about digital transformation, how can DevOps as a methodology stay behind?

According to a RightScale study, approximately 75% of techies across domains are leveraging DevOps to bridge the gap between development and operations. If in the digitized world, the need for speed and the quality of software herald competitive differentiation for enterprises. DevOps transformation services help them accelerate the development and delivery of software.

Although the benefits of DevOps as a model for software development and delivery are known across the board, many companies are yet to realize the connection between accelerating their digital transformation journeys and the speeding up of DevOps implementation. To put it in context, should business enterprises fail to speed up their software development and delivery processes, the digital transformation journey could come unstuck. The consequence thereof will be a muddle of siloed systems that do not work cohesively and efficiently. This begs the question as to how DevOps transformation services can expedite the digital transformation journeys of enterprises.

DevOps - the key to speeding up the digital transformation of enterprises

The DevOps model brings development and operations together to deliver superior customer experiences, faster product releases, and enhanced profitability. Its product-centric approach helps eliminate rework and improve the quality and speed of overall outcomes. The benefits of implementing a DevOps transformation strategy for accelerating digital transformation are as follows:

Brings about product centricity: To achieve organizational nimbleness, many enterprises are shifting towards operating models that are centered around products and empowered teams. Enterprise DevOps transformation services enable teams to develop and market products in minimal time, innovate, react quickly to customer feedback, and minimize cybersecurity risks.

View DevOps from a business approach: Generally speaking, DevOps is mostly seen as a technical solution to address procedural challenges. These may include outages due to software changes or compatibility issues creating bottlenecks in the release cycle. This is the wrong way to look at things, for the DevOps approach is not to view it as a solution to any technical issue. Rather, it can be thought of as a means to an end. DevOps should be viewed from the perspective of quality and speed of delivery of business outcomes. For instance, if DevOps is seen to improve the speed and quality of automation, then the focus would be more on integrating toolsets into the value chain.

Alternatively, if DevOps is seen to facilitate innovation, foster competitive differentiation, or increase market capitalization, a bigger picture emerges. It envisions things happening from the perspective of processes, people, and technology. This allows businesses to better structure their DevOps transformation roadmaps to accelerate their digital transformation journeys. However, this does not preclude the use of the right tools to address any technical challenges, such as a reduction in software issues post changes.

Automate all repetitive tasks: Executing any repetitive tasks, including QA, manually is time-consuming and prone to errors. DevOps automation can help businesses perform all repetitive tasks at speeds that are not achievable manually. Besides, automation can help each task be executed at the same speed and precision, resulting in consistently generating accurate outcomes. Further, automated builds ensure valuable resources are no longer tied to performing repetitive tasks but are tasked with executing more high-value activities efficiently and creatively. Also, by automating the deployment and release management processes, the DevOps team can work on different areas. These include keeping pace with critical software updates, and understanding and working on customer feedback, among others.

Get feedback on continuous improvement: Enterprise DevOps transformation involves making continuous improvements to business processes and applications. The success of such improvements ultimately depends on the quality of their feedback loops. For instance, the feedback loops should allow the flow of information in all directions and among all teams - development, production, QA, operations, and management. The parameters to be looked into by the feedback loops include bug reporting, monitoring of usage, performance, and availability, suggestions for features, use cases, and instrumentation. Moreover, with better collaboration between DevOps and the rest of the business value chain, the feedback loops can let DevOps teams know the business goals. At the same time, businesses can understand how the goals can impact software delivery and users.

Drive better customer experiences: With DevOps transformation services, automation is baked into processes and helps businesses deliver value quickly, seamlessly, and consistently across channels and environments. By reorienting processes with customers at their core, all delivery outcomes can result in creating superior customer experiences.    

Conclusion

In the digitized business environment of today, the focus is on developing and deploying high-value software quickly and delivering superior customer experiences. This can only be realized if every process and stakeholder work in sync and collaborate. To derive positive outcomes from digital transformation, businesses should accelerate their journeys towards adopting DevOps. In doing so, they should not pay heed to what specific vendors offering DevOps as a solution to address technical issues proclaim. In fact, they should consider the DevOps transformation plan from an experienced and technology-agnostic company to achieve their transformation goals.   

Resource

James Daniel is a software Tech enthusiastic & works at Cigniti Technologies. I'm having a great understanding of today's software testing quality that yields strong results and always happy to create valuable content & share thoughts.

Article Source: devopsdigest.com

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Digital Transformation in Banking | Cloud Migration Assurance Services

The Core Banking Solution on the Cloud has served as the catalyst for digital banking transformation. These benefits will make financial institutions more future-ready and improve customer value and revenues.

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Accelerate Digital Transformation by Migrating Core Banking to the Cloud

Watch this video of cignti’s blog to learn more about accelerating digital transformation by migrating core banking to the cloud.

Read more: https://www.cigniti.com/blog/digital-transformation-core-banking-cloud/

[vikram739]

Digital Transformation in Banking | Cloud Migration Assurance

The Core Banking Solution on the Cloud has served as the catalyst for digital banking transformation. These benefits will make financial institutions more future-ready and improve customer value and revenues.

[vikram739]

What are the 5 Best Mobile Testing Tools for 2022?

Mobiles have become the go-to device for scores of users when it comes to accessing online platforms to derive a host of products, services, or information. The plethora of apps available for users across domains comes to a whopping 2.87 million in 2022 (source: Buildfire.com), and the whole app ecosystem costs around $170 billion (source: Forbes). With so much riding for the mobile apps, there are security concerns galore. These include the risk of data leakage, phishing attacks, network spoofing, unsecured Wi-Fi, broken cryptography, spyware, and improper session handling, among others. It is not without reason that business enterprises are queuing up to implement mobile application testing in their value chain. Mobile test automation using mobile testing tools is the best way to validate the efficacy of mobile apps in terms of functionality, performance, security, and usability, among others.

How to select the appropriate mobile testing tools

The success of any mobile application testing strategy is underpinned by the type, quality, and coverage of mobile testing tools used. Let us know the key features of 5 best mobile testing tools for your business:

Easy to learn and use.

Features cover key mobile-specific testing activities.

Native integration with CI/CD systems and/or other platforms.

Provide both scripted and scriptless processes.

Types of mobile app testing

There are several types of mobile app testing as discussed below:

Functional testing: It checks the functionalities of a mobile application as per pre-defined specifications.

Memory testing: Checks the optimized memory usage by the application.

Performance testing: Checks performances related to the application, server, and network.

Interruption testing: Checks for interruptions while the application is in use. The interruptions can be in the form of incoming calls, low memory, incoming SMSs, and low battery, among others.

Installation testing: Checks whether the application can be installed, updated, or uninstalled easily.

Usability testing: In this type of mobile automated testing, the efficiency and effectiveness of the application when used by end-users in real-time are tested.

The top 5 mobile testing tools in 2022

The top five mobile testing tools for Android, iOS, and Windows platforms are mentioned below:

1. TestComplete: Developed by SmartBear Software, TestComplete allows the creation and execution of mobile test automation for Android, Windows, and iOS applications.

Key highlights

Develops and executes robust UI tests for both native and hybrid mobile apps on Android, Windows, and iOS devices.

Automates UI tests on virtual machines, real mobiles, or emulators.

Uses script-free recording and replay activities to create test scripts.

2. Katalon Studio: It is an all-encompassing tool for testing mobile applications and does not entail building a mobile application testing framework from scratch. Katalon Studio is compatible with many operating systems - iOS, Android, Linux, and Windows.

Key highlights 

Built-in keywords, record and playback, and templates to create test cases quickly.

Easy toggle using manual and script mode for scripting and low-code options.

Conducts testing on real devices, emulators, or cloud-based devices for remote, local, and cross environments.

Locates and captures visual elements through image-based testing.

Speeds up troubleshooting with an advanced reporting mechanism.

3. Appium: As a well-known mobile application testing framework, Appium inherits the popularity of Selenium and allows the testing of hybrid, native, and mobile web applications.

Key highlights 

The scripting languages used are Python, Java, JavaScript, Ruby, and C#.

Easy for testers working with Selenium.

Easy to integrate with other testing platforms and frameworks.

Eliminates the need to recompile other codebase, applications, or frameworks.

Allows re-usability of tests and code across operating systems.

4. Robotium: Allows mobile test automation for Android v1.6+ apps both hybrid and native. It requires the presence of JDK Ready, Android Development Kit, Eclipse, and Android SDK.

Key highlights

Quick test creation using a simple API.

Java is the available scripting language.

Allows test execution on real devices and emulators.

Allows the writing of system, functional, and user acceptance tests.

Supports CI/CD integration.

5. Flutter: Developed by Google to create and test mobile and web applications, Flutter has gained popularity among developers and testers.

Key highlights

Allows easy alteration and update of code on real devices, emulators, and simulators.

 Allows background caching using service workers.

Allows the creation of expressive UIs using rich motion APIs, widgets, among others.

Conclusion

The right mobile application testing methodology can help QA teams to automate tests quickly and efficiently. However, while choosing the best framework or tool to write test scripts, focus on the key specifications or features offered. A robust mobile testing solution should be compatible with various mobile platforms, programming languages, and cross-platform integrations. It is advisable to start a project with features such as built-in keywords, record and playback, pre-made templates, and advanced reporting, among others.

Resource

James Daniel is a software Tech enthusiastic & works at Cigniti Technologies. I'm having a great understanding of today's software testing quality that yields strong results and always happy to create valuable content & share thoughts.

Article Source: dev.to

[vikram739]

Watch this video of cigniti’s blog to understand more about migrating from on-premise SAP HCM to cloud-based HXM-SAP SuccessFactors.

Know more: https://www.cigniti.com/blog/migrate-on-premise-sap-hcm-cloud-hxm-sap-successfactors/

[vikram739]

What are the Newer Trends in Performance Testing and Engineering?

Rising competition across the business landscape is forcing enterprises to up their ante and leverage cutting-edge technology to reach out to their target customers. On the customer’s side, the amazing array of diverse products and services is enough to drive frenzy, confusion, and demand. The tech-savvy and highly demanding customers of today want every application to perform 24 x 7, 365 days a year across a plethora of devices, browsers, operating systems, and networks. Business enterprises are hard-pressed to cater to this segment of customers and are migrating to newer technology to stay relevant and competitive. They need to deliver products or services while focusing on personalization, customization, predictions, analytics, and user preferences, among others.

However, adopting the latest technologies can impact the performance of a software application in one way or another. It is only due to the improved performance of software applications that customers can adopt them and help businesses increase revenue. Performance testing services are an important part of the SDLC that help to determine if the performance of the software application is on target. Let us look at the performance testing trends that can help business enterprises score over their competitors and deliver superior customer experiences.

Top performance testing trends of today

Leveraging performance testing services is necessary to prevent the software application from facing downtime, lag, or other issues. These services can help with easy tracking of issues that have the potential to impact the functionality, features, and end-user experience. The trends in performance testing and engineering are as follows:

Protocol-based load tests versus real browser-based tests

Traditionally, protocol-based load testing is used to test web pages and applications for multiple protocols such as IMAP, AJAX, and DNS. However, with React and Angular-based web development frameworks, a huge amount of computation has moved to the browser engine. So, neglecting performance load testing using real browsers can generate vague results and create performance issues. Since real users largely interface with browsers, QA testers should adopt browser-based load testing services, including choosing performance metrics for JavaScript and HTML/CSS code rendering. This will ensure the running of load tests that are very close to what real users are likely to face.

Shift-left testing 

Here, application performance testing is run very early in the development cycle and is made part of each sprint. It aims to monitor performance metrics if and when a new feature is added to the application. This allows the QA testers to determine if the bugs or issues present in the code can cause performance degradation. A robust performance testing strategy should be set up so that performance tests are triggered at every new stage of development. Besides, the results of such tests should be compared to the performance trends of previous test runs.

Chaos testing or engineering

Chaos testing is about understanding how the application should behave when failures are randomly created in one part of the application’s architecture. Since several uncertainties can take place in the production environment, chaos engineering can help identify such scenarios and the behavior of the application or system. It allows testers to understand if any cascading issues are going to be triggered due to the failure in other parts of the system. Such a performance testing approach can make the system resilient. In other words, if one part of the web services or database faces sudden downtime, it should not affect the entire infrastructure. Chaos engineering can help find vulnerabilities or loopholes in the application so that any performance issues can be predicted and mitigated beforehand.    

Automated testing using AI

Performance testing scripts are often changed based on customer behavior changes. However, with AI and machine learning, business enterprises can identify the patterns around the user journey and know what the real users are up to when using the software application or visiting the web platform. AI can help the QA team use a performance testing methodology to generate automated scripts that can eventually find new issues or vulnerabilities in the system.

Conclusion 

The above-mentioned trends in performance testing can help business enterprises scale and adapt to the dynamically changing software development frameworks. By keeping abreast with the latest technologies and key testing trends, businesses can ensure stable applications, superior user experiences, and possibly customer loyalty.

Resource

James Daniel is a software Tech enthusiastic & works at Cigniti Technologies. I'm having a great understanding of today's software testing quality that yields strong results and always happy to create valuable content & share thoughts.

Article Source: apmdigest.com

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Without a proper Digital Assurance strategy and without the capabilities to execute that strategy, the evolution of an organization's digital initiatives will fail to meet the expectations of the market.

[vikram739]

Watch this video of cigniti’s blog to learn more about how Digital Assurance is sweeping away digital complexity.

Read more: https://www.cigniti.com/blog/digital-assurance-digital-complexity/

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Top Reasons to Test Low-CodeLow-code Applications

In today’s complex IT environment where business enterprises look to deliver quality-rich, scalable, compatible, secure, and reliable software applications, the need for low-code app frameworks becomes important. These help developers to create software applications with minimal coding, thereby reducing time. Low-code frameworks can help businesses in many ways, such as achieving better productivity, faster time to market, and better automation, among others. Besides, these allow developers even with low programming skills, to write the codes for software applications. All said and done, low-code apps do not mean test automation services are ignored and testing is off the hook for the QA teams. In fact, performance and functional testing of low-code apps are as important as other app types. So, before getting into the details of low-code testing, let us first understand what a low-code app is.

What is a low-code app?

A low-code app uses a platform, tool, or framework that reduces the amount of original code that developers need to write for the app. Here, developers use point-and-click interfaces to implement business logic instead of using a text editor or IDE to write the code. Importantly, low-code does not necessarily mean no code, as many apps may require some form of custom coding or configuration. At the same time, there are a few no-code tools that are leveraged by programmers to facilitate codeless development. There are primarily two reasons why business enterprises opt for low-code apps:

This allows programmers with basic coding skills to create applications.

 Accelerate the time to market for such apps by letting experienced programmers build applications quickly using prebuilt components or functions.

Why choose low-code testing?

Since low-code app frameworks allow developers to use minimal code in writing an application, there is a perception that QA teams need to spend less time executing codeless testing. There is a grain of truth in this, for low-code apps do not necessarily need unit tests due to the presence of a minimal number of “original units” in the codebase. This is because each function or component of the app happens to be a prebuilt unit whose source code may not be visible to the developer and the QA team.

Reasons for testing low-code apps

Low-code apps need rigorous testing and vetting before being released into the production environment. The reasons low-code apps should be subjected to low-code testing are:

Bugs in low-code platforms: Low-code frameworks that contain prebuilt functions or components to aid in the development of applications may contain bugs Low-code. The fact that a low-code framework is tested before delivery does not guarantee it is free of bugs across configurations or architectures. This is where the functional testing of low-code apps is critical. Using scriptless automation, functional testing enables QA testers to identify the prebuilt components that may cause issues even if they cannot pinpoint the exact nature of the bugs therein.

External resources: Low-code applications are not self-contained entities that exist on their own. Rather, they function by integrating with external resources and workflows through APIs. This makes the testing of APIs a crucial requirement in the overall scheme of things. The QA team using low-code test automation needs to ensure the availability of any external storage, resources, networking, and others, for the low-code app to function as per the mandate and quality specifications.

Professional oversight: Because low-code apps may be built by non-programmers, their quality may be jeopardized. In such cases, the QA team executing low-code testing is the only barrier before the apps hit the market. The team should ensure the apps are devoid of any bugs, issues, or vulnerabilities before they are handled by the end-users. This is in stark contrast to traditional apps created by seasoned programmers, who are less likely to have professional coding oversight.

Performance: The primary goal of developing low-code apps is to achieve rapid deployment rather than to ensure performance. Hence, such apps are not likely to perform optimally vis-à-vis conventional apps. This makes it more important to test such apps, especially performance testing, and make them free of bugs or any performance issues.

Conclusion

Low-code apps do not mean low quality apps and should be tested as rigorously as conventional apps, preferably using codeless automated testing. These apps are gaining prominence and are chosen by businesses for their quick development processes, but may cause performance issues should they be ignored for quality testing.

Resource

James Daniel is a software Tech enthusiastic & works at Cigniti Technologies. I'm having a great understanding of today's software testing quality that yields strong results and always happy to create valuable content & share thoughts.

Article Source: dev.to

[vikram739]

Order Management Systems in Capital Markets | BFSI Testing

By ensuring assurance for sophisticated order management systems in capital markets, all their processes, features, and functionalities across the front, middle, and back-office perform seamlessly.

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Accelerating Digital Transformation Through the Cloud

Watch this video of cigniti’s blog to learn more about accelerating digital transformation through the cloud.

Read more: https://www.cigniti.com/blog/digital-transformation-cloud/

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Cloud Assurance Platform (CLAP) | Digital Transformation Framework

Cloud has emerged as a primary disruptive force for enterprises to augment insights-based innovation to drive digital transformation and maintain that competitive edge. Cloud has proven to be a core enabler for business agility, automation & cost optimization.

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Why is Customer Sentiment Analysis Important for Businesses?

When customers engage with any brand and leave a review (favorable or otherwise) on social media or any other platform, there is an associated emotion. Understanding this underlying emotion is important for business enterprises to gain insights into the customers’ psyche and their views about the brand. With sentiment analysis, businesses can capture the psyche of customers when they engage with their brands and help the latter boost customer experience and brand loyalty. For instance, tracking customer emotion or sentiment on social media or any other platform in real-time can help businesses identify and address a critical issue impacting customers. So, why is app sentiment analysis important for brands today?

According to statistics, a positive brand experience can cause customers to spend up to 140 percent more. At the same time, any negative experience with a brand can drive customers to tell 16 people on average about their experience, compared to just 9 people for happy customers about their experience (Source: Deloitte). Thus, customer sentiment analysis metrics can offer deep insights into what customers think about a brand. These insights can be leveraged by brands to offer more of the things that make customers happy and willing to engage more with the brand. Let us understand this aspect in detail.

What is customer sentiment analysis all about?

It is the process of identifying emotions automatically when customers engage with the products, services, or brand of a company and write reviews or engage in any other type of online communication. Customer app sentiment analysis is executed using Natural Language Processing (NLP) or algorithms that have the capability to detect the emotions of the customers: positive, neutral, or negative. This is done by detecting patterns in their online communication and then classifying them. Any app sentiment analysis exercise automates the tasks and helps businesses to divert teams towards resolving customer issues instead of getting bogged down with reading every type of communication. The algorithms to derive customer experience insights use two parameters to analyze and categorize customer communications:

Polarity: Identifies whether customers’ emotions are positive or negative.

Magnitude: Identifies how strongly the customers feel about the brand.

Why does customer sentiment analysis matter? What are the benefits?

In the highly competitive world of today, where the quality of products and services as well as customer experiences differentiate a brand from its competitors, it is important to know what customers feel about a brand. The benefits of undertaking customer sentiment analysis are:

Better customer service: The likelihood of customers leaving a brand after a bad experience is in the range of one in three. Since customer traffic is directly related to better performance and revenue for your brand and business, it is important to find out what makes customers happy or unhappy while engaging with your brand. Through real-time user monitoring, you can gauge the polarity and magnitude of customers’ emotions and remove the factors that contribute to negative customer experiences.

Better return on investment (ROI): User experience monitoring through tools like NLP can help you gauge customers’ sentiments towards your brand, products, and/or services. It can be used by businesses to monitor or track customers’ sentiments towards their competitors’ products or services. The insights about competitors can be used to fine-tune the products’ quality, release, and the mechanism for customer query resolution. This way, digital experience monitoring can help businesses derive better results (ROI) from their marketing campaigns.  

Better quality products and services: The quality of your products or services acts as the differentiator and drives customers to either adopt or reject them. With sentiment analysis using a CX assurance platform, you can predict and learn about industry trends, derive insights into new markets and customer choices, and know things that did not fare well with your product releases. The insights can help you upgrade your existing products and innovate to create a new set of products when venturing into a new market.

Better management of brand reputation: Customers can give feedback on your products or services on a number of online platforms, including social media. Therefore, any negative feedback can escalate and impact the reputation of your brand adversely. Using customer experience assurance tools, you can monitor customer sentiments across online platforms about your brand, especially on forums, social media, and your website, among others. This will allow you to deliver positive customer experience assurance and stop the escalation of any negative PR.

Conclusion  

Customer sentiment analysis allows you to analyze the issues with your products or services at a granular level and helps you to eliminate them. It can help maximize the index of customer satisfaction by optimizing your marketing campaigns, maintaining your brand reputation, and fine-tuning your product launches.

Resource

James Daniel is a software Tech enthusiastic & works at Cigniti Technologies. I'm having a great understanding of today's software testing quality that yields strong results and always happy to create valuable content & share thoughts.

Article Source: nasscom.in

[vikram739]

Hyper-personalization in Digital Banking | Banking Digital Transformation

Banks are more customer-centric with hyper-personalization as a core component of any initiative that they undertake. Banks can partially or fully automate their digital processes, increasing operational and cost efficiency, which translates into greater profitability.