Portland, Ore. (Oct. 25, 2023) – The International Institute for Analytics (IIA), the leading independent analytics and data science research and advisory firm, named Charles Schwab the winner of the 2023 Excellence in Analytics Award at IIA’s 2023 ANNY Award Showcase held Thursday, October 24, 2023.

All applicants competed on the five key areas that determine the success of an analytics project: outcomes, ambition, scale, skills, and insights. An independent panel of judges led by Tom Davenport examined each application and cast anonymous ballots.

Charles Schwab leveraged the power of AI and analytics to proactively identify and serve the implicit needs of their clients. By deploying a natural language processing model on the transcripts of client chatbot interactions, they can scan 10x the amount of transcripts as opposed to the manual process. In doing so, they were able to uncover unsatisfied client demands. The information gathered by the chatbots is then filtered and passed to an outreach team, where the customer's needs are met with the correct service. By prioritizing the unspoken pain points of their clients, Schwab has seen a 400% increase in customers served and maintains their position at the forefront of innovation in customer satisfaction

The other two finalists for the 2023 ANNY were John Deere and Steelcase, each of whom presented their projects during the ANNY Award showcase sharing key learnings from their respective projects.