A Value Innovation Model for Enhancing Customer Experience in Cloud-Based Retail and Financial Services

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@article{1710115,
      author = {Adaobi Beverly Akonobi, Christiana Onyinyechi Okpokwu},
      title = {A Value Innovation Model for Enhancing Customer Experience in Cloud-Based Retail and Financial Services},
      journal = {Iconic Research And Engineering Journals},
      year = {2020},
      volume = {3},
      number = {11},
      pages = {443-460},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1710115.pdf},
      abstract = {The rapid evolution of cloud computing has transformed the retail and financial services industries by enabling real-time, scalable, and data-driven operations. However, despite increased digitalization, many organizations struggle to translate technological capabilities into meaningful improvements in customer experience. This proposes a Value Innovation Model tailored to enhance customer experience in cloud-based retail and financial services environments. Drawing on concepts from service design, customer journey analytics, and digital transformation theory, the model emphasizes the intersection of technology, personalization, and trust as key drivers of value. The proposed model comprises three interconnected layers: (1) Customer-Centric Architecture, focusing on modular, API-enabled infrastructures that support seamless omnichannel engagement; (2) Experience Intelligence, integrating real-time analytics, behavioral modeling, and sentiment analysis to deliver hyper-personalized services; and (3) Trust and Governance, embedding ethical AI, transparent data practices, and security protocols to build lasting customer confidence. Through these layers, the model aims to overcome common barriers such as fragmented service delivery, data silos, and opaque algorithms. Application scenarios in digital banking and e-commerce are used to illustrate how the model supports enhanced user satisfaction, loyalty, and lifetime value. For instance, real-time credit scoring with explainable AI and adaptive recommendation engines for cloud-based marketplaces demonstrate how cloud infrastructure can be leveraged to meet evolving customer expectations. This also outlines implementation pathways, including phased rollouts, agile development cycles, and cross-functional collaboration. It concludes by identifying future research directions such as autonomous service orchestration, federated learning for privacy-preserving personalization, and metrics for trust-driven digital experiences. The Value Innovation Model thus offers a strategic framework for organizations seeking to transform their cloud investments into competitive advantage through superior customer experience.},
      keywords = {Value, Innovation model, Customer experience, Cloud-based, Retail, Financial services},
      month = {May},
  }