With the amount of competing services available, businesses need to focus efforts on maintaining consumer satisfaction and providing a superior customer experience. Proper application of analytics can lead to a proactive retention strategy. By looking at the customer’s past service usage, service performance, spending and other behavior patterns, these models can determine the likelihood of a customer wanting to terminate service sometime in the near future.
For an organization that offers multiple products, an analysis of existing customer behavior can lead to efficient cross sell of products. This directly leads to higher profitability per customer and strengthening of the customer relationship. Predictive analytics can help analyze customers’ spending, usage and other behavior, and help cross-sell the right product at the right time.
Read the white papers below to find out more about Analytics.