Pandera was founded on some simple principles that has fueled exponential growth, “Data is power and leveraging it to improve the client experience is the next great opportunity in corporate information assets. “We have the technology, we have the data, and just need to rethink the approach and reinvent the client engagement experience,” explains Arndall.
Pandera was formed as a business and technology consultant firm that acted as a one stop shop for clients when it came to analytical solution strategy, ideation, and innovation. With a powerful combination of visionary and technical minds, they have helped organizations leverage data assets to create closer relationships with clients, transform and revitalize the customer experience, and develop executive information systems to measure and monitor business performance in the wake of social media and plethora of corporate and non-corporate information sources.
Different is Effective
Pandera noticed several fundamental flaws in what was traditionally offered in the market and what IT experts were implementing to manage and monitor the customer experience. For starters, clients were implementing expensive analytical systems marginally better than they implemented inexpensive reporting tools and were wondering why they got little value from the solution. The real opportunity was to create analytical applications designed specifically to change behavior through facts and figure presented in the logical decision making patterns and use advanced analytics to align decisioning to a set of key strategic initiatives. Not only was Pandera exposing their clients to uncharted territory by bringing them innovation through analytical business solutions, but they were trying to create a more impactful solution than traditional solutions that they felt were nothing more than simple list management tool.
“The power of these analytical business solutions is the value of placing the functionality in the hands of the front office workers.
Today, company’s need tools and technology that improve the client engagement experience, reinforce their value, show technical prowess, and more importantly align client decisioning with the future. These are not the capabilities you get from a report or a dashboard, it has to be a branded analytical application with subject matter context that defines a decision process,” explains Arndall.
The ultimate challenge for Pandera was changing the approach to managing client interactions and expectations. The advancement of CEM through today has been dominated by focus on intent, tone, sentiment, and other points deemed “interesting at best”. The lack of truly understanding the state of the customer in conjunction of their life-cycle and the ability to add context to the knowledge leaves CEM purely informational. Contextual enrichment and alignment with customer life-cycle mixed with segmented transactional behaviors creates a picture with meaning. We have and are taking this beyond interpreting raw data into subjective categories only to be used for simple research.
Pandera drives its customers far beyond that simple starting point. The journey is to combine that baseline interpretation with all other data assets and more closely align to operational analytics so that interpretation is woven into a common measurement system that people understand and are able to use. Doing so allows us to make the results of the CEM strategy effective every day and the insights from the strategy is something we can envelope around day to day decision making. That’s changing the game.
Creating a New Form of Practicality
In some ways, what Pandera came up with is reflective of their own adaptation to the flaws over served around them through years of research and more than their share of marginally successful implementations related to CEM. Pandera’s approach was to reinvent the utilization and accessibility of corporate data and provide an organized suite of tools that allows an organization to be more agile, fact enabled and measure and evaluate the effectiveness of their own decision making relevant to their client’s success. The idea is for these tools to align with a business’ strategic objectives, create continuity, statistically measure outcomes based on the feedback loop which makes decision management applications more of an artificially intelligent solution.
Our tools allow organizations to be more capable, thoughtful and measure and evaluate the effectiveness of their own decision making
Pandera does a lot of development using various industry business intelligence tools. Much of their work is bent around building customized analytical applications that have a defined purpose and scope, using modern data management architectures that are designed to manage big data. While Pandera specializes in building advanced analytical systems and provides services that include Strategy, Ideation, and implementation, they do offer some game changing in house products. One notable product called ‘REV’ which takes the concept of client experience management to a new level and applies it to the sales experience, allowing sales reps to use advanced analytical patterns and predictive analysis to improve the sales experience and drive better results. Using analytics and pattern recognition to influence and advance the buying process, it can help sales reps become considerably more efficient,
Embracing the Future
Pandera has board set of services designed help clients achieve business innovation through analytical solutions that are worth taking a look at but more importantly their take on the future of customer oriented analytical solutions is the real value-added for clients. They are building the next wave in CEM that will change the game by leveraging technologies where users can ask any number of questions and get answers without ever touching a keyboard. For one of notable healthcare provider, Pandera created an interface mechanism where the users walks by a large display and interacts with it without touching it, much like the way Xbox’s Kinect Gestures works. The latest development takes structured or unstructured data and turns it into analytics that are spun in such a way that the user can make accurate predictions using multi-variable event analysis to correlate and monitor unrelated data inputs and predict high probability outcomes.
“For us, ‘creating analytical applications to help manage the customer experience’ is second nature and at this point our success is indicative of the fact that what we’re building has substantial value,” explains Arndall. Pandera believes that guided business intelligence and CEM solutions like these will become more prevalent in the industry versus using off-the-shelf business intelligence tools. “You’re going to see a big push towards composite apps that combine decision management and CEM as the next wave of Enterprise apps,” explains Arndall.
Leading the Pack while Standing Out
For a working application of Pandera’s ability to innovate, we can look at examples of decision management apps but one in particular has had a huge impact of revenue cycle management in the healthcare industry. The problems in the industry could be summarized into one question: “How do you increase collectability and reduce cycle time regarding payments from insurance companies, identify and improve operational faults, and monitor the performance and sentiment across clients and staff?” Pandera developed a solution that identifies issues in collectability and coding problems related application that granted visibility to all of the critical factors affecting payments. It showed them where there were opportunities reduce cycle times, correct coding issues before issuing for payment, reduce churn, and monitor performance efficiencies as well as provide clients with tools to monitor the service the company was providing. The company was awarded several notable industry awards for their innovative solution that Pandera conceived and built.
Over the course of five years, Pandera has gone from five people to well over 200. They’ve grown into six offices with positive projections for the future, which they attribute to their willingness to go against the grain and be fearless in their approach. “We’re growing at a rate that hasn’t really been heard of in a long time, and I think it’s simply because we’re not afraid to ask ‘why’ and try a different approach,” says Arndall. Currently, the key drivers of Pandera’s success are their rapid innovation methodology, their people, and the technologies that make the impossible, possible. They continue to embrace new ways of solving problems, question the established norm, bend and twist technology to facilitate what people say is not possible, and show organizations a better way to engage clients through analytics. So long as they continue to think outside the box, Arndall says you can expect to see a lot more of what they have to offer infiltrating every niche of business.