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Company focus

Elevate

What factors contributed to the sudden 30% increase in customer support tickets related to Elevate's personal loan application process last week?

Prepared by NextSprints

15 mins
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Problem-Solving Data Analysis Product Strategy Fintech Personal Lending Customer Service Data Analysis Fintech Root Cause Analysis Product Optimization Customer Support
Product Management Root Cause Analysis Question: Investigating sudden increase in customer support tickets for loan application

Introduction

The sudden 30% increase in customer support tickets related to Elevate's personal loan application process last week is a critical issue that demands immediate attention. This analysis will systematically identify, validate, and address the root cause while considering both short-term and long-term implications for our product and users.

I'll approach this problem by first clarifying key details, ruling out external factors, and then diving deep into our product, metrics, and potential internal causes. My goal is to provide a comprehensive analysis that leads to actionable solutions and preventive measures.

Framework overview

This analysis follows a structured approach covering issue identification, hypothesis generation, validation, and solution development.

Step 1

Clarifying Questions (3 minutes)

  • Looking at the timing, I'm thinking this could be related to a recent product update. Have there been any changes to the loan application process in the past two weeks?

Why it matters: Recent changes often correlate with sudden metric shifts. Expected answer: Yes, a minor UI update was implemented. Impact on approach: If yes, I'll focus on the specific changes and their potential impact.

  • Considering user segments, I'm curious if this increase is uniform across all user types. Are we seeing a disproportionate increase in tickets from any particular user segment?

Why it matters: Helps identify if the issue is widespread or localized to specific users. Expected answer: New applicants are submitting more tickets than returning users. Impact on approach: If segmented, I'll tailor solutions to the most affected groups.

  • Given the magnitude of the increase, I'm wondering about our system's performance. Have there been any notable changes in application load times or error rates?

Why it matters: Technical issues often manifest as increased support tickets. Expected answer: Some intermittent slowdowns have been reported. Impact on approach: If yes, I'll prioritize technical investigations and performance optimizations.

  • Thinking about external factors, has there been any recent marketing campaign or promotion that might have driven a surge in loan applications?

Why it matters: Increased volume can strain systems and lead to more support issues. Expected answer: A new social media campaign was launched last month. Impact on approach: If yes, I'll consider scalability and capacity planning in our solutions.

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Updated Jan 22, 2025