Blog: customer analytics
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Customer Analytics, Hype or Reality?
11/30/11Continue ReadingCustomer Analytics seems to be one of the hottest topics in business today, with the newly coined 'Data Scientist' role in high demand. And with all hot topics there is hype and reality. The reality is that analytics can provide a big impact on bottom line profits. The hype is that it can provide a significant ROI in all environments. In most environments, you need three critical components for customer analytics to provide a significant impact:
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Customer Analytics > Optimizing Collection Efforts, Part2
9/28/10Continue ReadingIn Customer Analytics > Optimizing Your Collection Efforts, Part1 I focused on how companies are enhancing their collection efforts by setting up risk treatments at the point of acquisition. Now that the customers are on board, and a portion of the customers have entered into collections, what can be done to optimize collection efforts and thus minimize the amount of outstanding debt? All environments vary but the following steps set a direction in optimizing collections efforts.
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Customer Analytics > Optimizing Your Collection Efforts, Part1
8/6/10Continue ReadingCollections are tricky but if your collection strategies embed analytics, use the analytics to create proper collection treatments, and allow for ongoing test-and-learn adjustments you will optimize your collections efforts. However, I do not want to focus on collection analytics at this time. Why? Because regardless of how well-oiled your collection efforts are, the single largest bad debt impact happens at the point of acquisition.
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Customer Analytic Visualization
6/14/10Continue ReadingCustomer Analytics in many environments provides significant competitive advantages, which culminates in minimizing waste / costs while maximizing revenue. Many times one of the largest barriers in analytic adoption is the lack of understanding of the analytic outputs, which hinders the proper strategic application of the analytics - both short-term and long-term.
