LONDON--(BUSINESS WIRE)--Feb 4, 2019--A global data analytics and advisory firm, Quantzig, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest During the course of this engagement, the customer analytics experts at Quantzig helped the retailer to identify the triggers that led to a drastic decline in their bottom line including the reasons behind a 40% rise in customer churn rate.
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How Quantzig’s Customer Analytics Solution Helped a Retailer Witness a 3X Rise in Customer Retention Rate (Graphic: Business Wire)
Owing to the developments in today’s technologically inclined world, companies in the retail sector possess huge volumes of customer data that offer insights on customer behavior, customer preferences, and demographics. The inability to unlock the true value of this information acts as a major roadblock for those looking to establish themselves in the complex retail environment. Also, owing to the surge in connected consumer networks, customer relationship management requires advanced analytics based methodologies. It requires developing a detailed understanding of the customer journey starting from the initial touchpoint through purchase to referrals and beyond.
The Business Problem: The client is a leading player in the US retail sector, specializing in the non-alcoholic beverages segment. Owing to the high customer churn rate the client found itself struggling to improve their bottom line. Hence, they wanted to leverage Quantzig’s customer analytics expertise to increase revenue by identifying and retaining the most profitable customer groups.
Our expertise in the delivery of customer analytics solutions at various scales will help you gain clear insights into a customer’s lifetime value.to know how our customer analytics solutions can help.
“To unleash the hidden potential of customer data in today’s complex retail scenario we recommend a structured customer analytics solution that combines behavioral, transactional, demographic, and click-stream data obtained from discrete customer touch points,”says a customer analytics expert from Quantzig.
The Solution Offered: To help the client tackle key challenges, we utilized hierarchical and non-hierarchical data clustering methods to create and categorize the insights into different customer segments. The customer analytics experts at Quantzig developed a comprehensive customer analytics framework to evaluate the customer journey from three viewpoints customer loyalty, customer churn, and customer potential. As a result, the client witnessed a 3X rise in customer retention rate.
Extracting insights from customer datasets can be a challenging task for retail companies.to know how our customer analytics solutions can help you gain a leading edge in the competitive retail market.
Quantzig's customer analytics solutions helped the client to:
Identify customer groups with high churn rates and reduce customer churn by approx. 16%Increase customer retention by 3X
to know how you can apply these methodologies to address your research and business requirements.
Quantzig's customer analytics solutions offered predictive insights on:
Analyzing key performance indicatorsIdentifying improvement opportunitiesWondering how data-driven customer analytics solutions could open-up a world of new opportunities for your organization?
About Quantzig
is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit:
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CONTACT: Quantzig
Anirban Choudhury
Marketing Manager
US: +1 630 538 7144
UK: +44 208 629 1455
https://www.quantzig.com/contact-us
KEYWORD:
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT RETAIL FOOD/BEVERAGE OTHER RETAIL
SOURCE: Quantzig
Copyright Business Wire 2019.
PUB: 02/04/2019 09:03 AM/DISC: 02/04/2019 09:03 AM
http://www.businesswire.com/news/home/20190204005044/en
