When will a customer take action? How rapidly will they respond to a bank offer for credit, or to a retailer’s offer for a sales promotion? If you don’t know the answers to these questions, you can’t really develop a sound strategy for delivering the right offer to the right customer at the right time.
As you might already know, at Corios, we tell the story numbers can’t. Telling the story of the consumers, using their transactions as the ink on the page, meant developing an entirely new way of analyzing data, and it stems from looking at consumer behavior differently than the traditional conventions of applied mathematics and big data.
- With a national bank, we applied this approach toward predicting mortgage pre-qualifications within the next 2 days to 4 weeks, and returned a 70% lift on the top decile.
- We’ve helped a national digital retailer achieve 25% increase in sales revenues by applying transaction analytics to optimize their customer contact policies.
- We helped a global automotive manufacturer to proactively predict the onset of critical part failure by 80% or better, using transaction analytics on vehicle telematics events and service center geofence transactions.
- We helped an energy utility improve the routing of service trucks to customer outages using historical event sequences of service transactions and mathematical optimization for truck routing.
We call this approach ‘Veloce’, meaning ‘rapid,’ and it comes from combining many analytic disciplines, as well as many data sources, and applying them to get a better understanding of when consumers will act. When you get a better line of sight into when things will happen, the possibilities are limitless. This goes well beyond building a new model – it is the result of a decade of research and can be a game changer for your organization.
Want to know more about Corios Veloce? Give Robin Way, President of Corios, a call at 503-295-1685, or email at president@coriosgroup.com. Thank you!
