Agile Customer Analytics
Most large, data-rich businesses already make extensive use of customer analytics. They use traditional modeling and reporting technologies to address business-as-usual requirements, such as predicting marketing campaign response levels and distributing reports on trends/exceptions in business performance.
Few though have established a systematic approach to exploiting customer data to proactively handle new competitive opportunities like dealing with changes in regulation or competition, or even product introductions, cost-reduction initiatives or unexplained fluctuations in key business metrics.
Such an approach can lead to a better understanding of why customers are motivated to switch or purchase extra products leading to more appropriate, relevant and timely marketing, sales and service offers and actions.
Being able to respond faster and more effectively to these 'frontier' challenges has lead directly, for the few who've taken this approach, to competitive advantage and improved short-term returns. Sometimes the advantage of speed is in hitting finite windows of opportunity, but faster progress always delivers an extra period of commercial return.
What those who have made this work have seen is that it requires a better dialogue and closer relationship between the business and analysis groups. Traditional analytical tools are not designed to enable this rapid and joint-working approach, Quadstone is.
Quadstone customers have found that the key is to enable the business owners to work in a more interactive and iterative way with the analysts who have access to the data. This way new discoveries and decisions can be made quickly, fusing the power of business knowledge with specialist skills in manipulating and modeling customer data.