With the advent of technology, the potential for man to understand and process data has increased manifold. With artificial machines mimicking the human brain on a larger scale, we now can make calculations and notice trends that were once beyond our abilities. Correctly used, every aspect of the human life stands to gain by this use of artificial intelligence. Applexus Technologies ventures into the merging of Artificial Intelligence and Customer Analytics to bring to you its product, ‘Intelligent Customer Insights’.
Intelligent Customer Insights can be considered a key to the customer’s mind. It uses superior machine learning algorithms coupled with the latest and most insightful data visualization techniques to identify, assess and mitigate potential damage. The cutting edge of customer analytics, Intelligent Customer Insights combines customer behavior segmentation, prediction of customer churn, calculation of the predicted customer lifetime value, and customer sales analytics.
Intelligent Customer Insights (ICI) is the Customer Analytics Tool of Applexus Technologies. Using the various functionalities present in the SAP Analytics Cloud and SAP HANA Application Functional Libraries, ICI makes use of the data sciences, machine learning models and statistical analytics to make predictions using existing customer data. With a mere 6 weeks duration to implement at your organization, ICI grants its users an advantage over customers by leveraging the one resource we have in plenty but usually barely use – data.
Leveraging the various functionalities of Intelligent Customer Insights, you will be able to:
- Develop proactive strategies to target customers more effectively and increase customer loyalty.
- Proactively identify customers showing signals of potential lost business and take corrective actions with the goal of reducing customer attrition.
- Make effective decisions on how much to invest in acquiring new customers orin retaining existing ones.
We are a global technological leader in business consulting and SAP services. Our vision of enabling innovation in business through technology, coupled with our core values of Customer First, Innovation and Leading with Principles, propels us to develop our products tailor-made to the customers’ needs, and capable of achieving surpassing their expectations.
IMPORTANCE OF ‘Intelligent Customer Insights’
Deeper understanding of the customer can be a significant source of competitive advantage for an industry. Research shows that companies with extensive use of customer analytics clearly lead their counterparts in profit, sales, sales growth and ROI.
Through the use of Intelligent Customer Insights, you will be able to:
- Reduce customer churn
- Identify more valuable customers
- Encourage customers to spend more over their lifetime
- Cater to customer needs more effectively
- Optimize your plans to focus on existing customers over acquiring new ones
- Earn loyalty of the empowered and more demanding customers
Customer Behavior Segmentation
Based on the customer data, the customers can be segmented into different buckets like loyal customers, hibernating ones, at risk customers, or champions. These buckets are highly customizable and the parameters for the same can be set as per your requirements. This helps you to identify which segments should be prioritized upon to optimize business opportunities.
Customer Churn Prediction
Customer Churn is the percentage of customers who have stopped using your product. Ideally, we seek to have negative values of customer churns. Using RFM (Recency-Frequency-Monetary) Metrics and prediction algorithms, we are able to understand not just which users wish to not use our product, but also understand the main reasons for the same.
Customer Lifetime Value
The predicted lifetime value of a customer is the total amount of monetary value a customer is expected to spend in your business, or on your products, during their lifetime. Using machine learning algorithms, this is again another set of predictions that you can make which can help you gauge the impact of your business.
Customer Sales Analytics
Through effective use of Data mining and data modeling, the user is able to model and predict various aspects of their business such as Revenue and Sales, and appropriately create action plans.