Analtyics For Retails

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Information about Analtyics For Retails
Business & Mgmt

Published on January 20, 2009

Author: CequitySolutions



Creating Customer Growth Strategies through Data Insights using Analytics for Retail Solution Overview One of the biggest problems many Retail Stores providing credit through their proprietary cards face is around what needs to be done post customer acquisition.
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Creating Customer Growth Strategies through Data Insights using Analytics for Retail Solution Overview One of the biggest problems many Retail Stores providing credit through their proprietary cards face is around what needs to be done post customer acquisition. Once the customer has been acquired and has been transacting, the behavior of the customer needs to be monitored and on the basis of this behavior differential strategies for customer growth need to be executed. Each customer cannot be treated similarly since customer behavior varies among individuals and hence they need to be treated differentially. The same can be achieved by utilizing analytics which provides insights in customer behavior to help distinguish amongst customers.

Business Problem- How to leverage Customer Growth through Data Insights You need to differentiate customers and treat them differently. For which you need to answer the following questions: Do we understand the drivers of Profit? How different Marketing Drivers (Response Rate/Sale/Geography) are related to Profit? Are we maximizing for Marketing Drivers and Profit? Do we know the Future Demand for our Products? Do we know how customers behave at various stages of their account lifecycle? Do we know the Life Time Value of Customers? chase Lifecycle chase Lifecycle Create Customer Lifetime Value Pu r Pu r nt Lifecycle and Utilize in Credit Line Increase cou Ac Strategies & Offer Timing resulting in Incremental Sales Peak Purchasing Increasing Decreasing Account Lifecycle:- Long Term, Purchases Purchases typically over the lifetime of a customers association Purchase Lifecycle:- Short Term, typically over 1-2 yrs Acquisition Attrite How do we stock the right amount for effective customer service? How do we produce the right quantity to minimize the inventory? Are we testing the impact of all factors in a marketing program? Are we doing continuous experiment to understand the customer purchase behavior? Are we tracking the impact of marketing Programs? Are we offering the right products to the right segments? Who should we give a Credit Line Increase? Offer Type Design a Test & Learn Framework and streamline Marketing Program the Impact Tracking & rollout Channel Type of Marketing Programs Customer Segments Seasonality Geography

Utilizing Customer Insight to drive Strategies for the Right Customer at the Right Time Identifying Profitable Segments Offer/ Product Design specific to segments Build Predictive Models for Each Driver Optimize Across Drivers Use Secondary data to increase the Prediction Power Incorporate Market Research Data for fine tuning Develop robust Experimental Design framework using Fractional Factorial Build Models to predict customer behavior like sales likelihood, time of buy, life of customer, offer response, offer incremental sale, revolve behavior, expected sale, attrition probability, etc Creation of Customer Lifetime Value from these predicted values sis ly na A er st Clu on d ase b ts en m eg s er om st Cu Develop Customer Segmentation using external data for prospecting in the absence of Internal Performance Data Overlay Business Strategy Robust Program Impact Tracking Mechanism Feedback Loop for full scale rollout Create Relationship of Different Business Drivers to Profit Measurement of Profit Across Marketing & Risk Drivers High Create a Framework for Profit and other Customer Drivers and increase Profit with no compromise on Marketing Objectives y ph ro g Sale eo G Low Risk High Low Profit High Profit Medium Profit

Our Services CEQUITY’S services are powered with deep domain expertise and process excellence by adding Intelligence to Information. Our banking Analytics consultants are capable of generating effective solutions to your business problems and quickly provide you with a competitive price and turn-around time. Choose from a wide array of reports covering demographic trends, consumer spending potential, business profiles, consumer segmentation, activity volumes and more. Our Analytical Consultants are qualified to provide deep insights by objectively analyzing vast amount of customer transactional lifestyle and secondary data to help make quick business impact. Our consultants have rich experience in key verticals like: financial services, insurance, mortgage, retail, travel, entertainment & telecommunications. Our analytics services include: CEQUITY BIZACTION – Modeling Services Insight2Action Acquisition Models Insight2Action Value-build Models Insight2Action Retention Models Prospect Modeling and Scoring Cross-Sell/Up-Sell Analytics Churn Prediction Lead Scoring and Enhancement Lifecycle Profiling Attrition Models Optimal Contact Strategy Development Response/Conversion Modeling Portfolio Analysis CLTV Modeling Segmentation Models About Cequity Customer Equity Solutions (Cequity) Pvt. Ltd. is an IT-enabled Customer Experience Management Company which will help enterprises improve marketing performance and accelerates customer relationships. We help enterprises by combining data, technology and services to build actionable analytical marketing frameworks, optimize marketing performance and accelerate real-time customer engagement. Thereby, enabling greater ROI on their marketing technology investments. Cequity brings a blended perspective which allows companies to bring the power of Marketing automation technology to business problems. Our services include: Managed Campaign Management Services Customer Management Consulting Marketing Operations and Measurement Services Managed Analytics Event Driven Marketing Services Marketing Database Solutions Contact us: Customer Equity Solutions Pvt. Ltd. INDIA USA Mumbai Office: Chicago Office: 105-106, 1st Floor, Anand Estate, 189-A, Sane Guruji Marg, 626, Grove Street, Evantson, IL 60201 Mahalaxmi, Mumbai-400 011, India Phone: +91 22 23000133 / 23054039, Fax: +91 22 23053809 Website: Email:

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