Clarify Your Goal with StrategicInquiry™

How can data mining help your business? Begin with Strategic Inquiry™ - ask strategic questions to determine the best approach:

• Do you want to attract new customers? Targeted response modeling on new customer acquisition campaigns will bring in more customers for the same marketing cost.
  
  
• Do you want to those new customers to be profitable? Lifetime Value modeling will identify prospects with a high likelihood of being profitable customers in the long term.
  
  
• Do you want to avoid high-risk customers? Risk or approval models will identify customers or prospects that have a high likelihood of creating a loss for the company. In financial services, a typical loss comes from nonpayment on a loan. Insurance losses result from claims filed by the insured.
  
  
• Do you want to understand the characteristics of your current customers? This involves segmenting the customer base through profile analysis. It is a valuable exercise for many reasons. It allows you to see the characteristics of your most profitable customers. Once the segments are defined, you can match those characteristics to members of outside lists and build targeting models to attract more profitable customers. Another benefit of segmenting the most and least profitable customers is to offer varying levels of customer service.
  
  
• Do you want to make your unprofitable customers more profitable? Cross-sell and up-sell targeting models can be used to increase profits from current customers.
  
  
• Do you want to retain your profitable customers? Retention or churn models identify customers with a high likelihood of lowering or ceasing their current level of activity. By identifying these customers before they leave, you can take action to retain them. It is often less expensive to retain them than it is to win them back.
  
  
• Do you want to win back your lost customers? Win-back models are built to target former customers. They can target response or lifetime value depending on the objective.
  
  
• Do you want to improve customer satisfaction? In today’s competitive market, customer satisfaction is key to success. Combining market research with customer profiling is an effective method of measuring customer satisfaction.
  
  
• Do you want to increase sales? Increased sales can be accomplished in several ways. A new customer acquisition model will grow the customer base, leading to increased sales. Cross-sell and up-sell models can also be used to increase sales.
  
  
• Do you want to reduce expenses? Better targeting through the use of models for new customer acquisition and customer relationship management will reduce expenses by improving the efficiency of your marketing efforts.
  Once these questions are answered, you can utilize strategic planning, campaign analysis, database management, list analysis and recommendations.
  
  Data mining consulting is offered on a per day or project basis. A complimentary half-day initial assessment is available (not including travel).