Customer Analytics

Overview

Consulting in Customer Analytics

We understand that Customer analytics is becoming more and more important for businesses around the world. Customer Analytics is helping organizations predict purchase patterns, customer behaviors, lifestyle preferences, and offering them hyper-personalized propositions. Data, technology, and predictive analytics are being used to redefine customer interactions.

Offerings

Our Offerings towards Customer Analytics

Acquisition

A way of partitioning heterogeneous portfolio in a number of homogeneous segments, in response to differing preferences and past behavior then designing and implementing strategies to target them.

  • Have similar profiles and preferences
  • Profile of each segment should be significantly different from others
  • Be large enough to be viable
  • Be actionable and targetable
  • Suitable product offering

Acquisition

A way of partitioning heterogeneous portfolio in a number of homogeneous segments, in response to differing preferences and past behavior then designing and implementing strategies to target them.

  • Have similar profiles and preferences
  • Profile of each segment should be significantly different from others
  • Be large enough to be viable
  • Be actionable and targetable
  • Suitable product offering

Growth

Collection

While each industry experiences the problem of ineffective collections differently, it has similar impacts, which reduces the companies’ value:

  • Low profitability, high losses and increased cost of services
  • Undifferentiated collections actions leading to harsh treatment of good customers
  • A lower portfolio quality caused by defection of good customers

In conclusion, ineffective collections are a key threat to the business. No industry is spared of this problem, and its symptoms are often not acted on before it hurts the bottom line of the business. Traditional approach is to increase the effort of collections as the age of the debt increases. This is not an effective approach. Our collection analytics capabilities help the banks to enable it to devise targeted approach rather than a flat strategy across the portfolio by use of predictive analytics.

Retention

Approach

  • Understand current level of attrition and implement data driven strategy to manage it
  • Implement industry best practices on customer retention
  • Rigorous data analysis to develop advance statistical models to identify customers who may attrite (active/silent)
  • Customer Scoring: Target list generation
  • Apply statistical techniques to identify drivers leading to attrition
  • Design of Experiments with campaign offers
  • Implementation: Design and rollout of proactive / reactive attrition management campaign
  • Model tracking and management

Benefits

  • Better understanding of attrition challenges
  • Proactively identify customers “At Risk of Attrition”
  • Reduce overall portfolio attrition
  • Reduce the retention cost
  • Design better retention offers
  • Increase overall customer satisfaction

Approach

  • Understand current level of attrition and implement data driven strategy to manage it
  • Implement industry best practices on customer retention
  • Rigorous data analysis to develop advance statistical models to identify customers who may attrite (active/silent)
  • Customer Scoring: Target list generation
  • Apply statistical techniques to identify drivers leading to attrition
  • Design of Experiments with campaign offers
  • Implementation: Design and rollout of proactive / reactive attrition management campaign
  • Model tracking and management

Benefits

  • Better understanding of attrition challenges
  • Proactively identify customers “At Risk of Attrition”
  • Reduce overall portfolio attrition
  • Reduce the retention cost
  • Design better retention offers
  • Increase overall customer satisfaction
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