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Customer Retention

How does a company acquire new customers? How do companies keep customers they are currently serving happy? These are two questions that should be at the forefront of any industry leaders’ decision making process, but this is especially true of those in the marketing industry. It is essential to not only understand the relationships your company has with their customers, but also how to adapt to their needs so that they stay a committed and loyal customer. It is easier and more cost effective to keep current customers happy and committed, than to lose them and then try to gain new customers to replace those that are lost. Even more, while keeping current customers happy, it is still important to attract new customers! Balancing both essential tasks can be overwhelming. StatSoft’s Customer Retention Solution makes this easier.

StatSoft’s Customer Retention Solution provides the tools and analytics environment necessary to implement a specified marketing strategy, but a guide through the process of implementing a solution. This allows for careful tailoring of actions for customers, improves customer retention, increases existing revenue streams and lowers the cost of marketing campaigns. This tool allows for effective identification of the most valuable customers as well as those customers at high-risk for churning. Moreover, it also allows for identification of new prospects who will become new customers.

Through STATISTICA's advanced algorithms and modeling techniques, along with cutting-edge data analysis tools, get answers you need: list customers least likely to continue doing business with you, identify the factors that significantly influence those customer’s decisions, and identify what marketing campaigns will be the most effective for specific customers. These are just three of the possible outcomes from the STATISTICA Customer Retention solution. This knowledge enables companies to take proactive measures and reach out to those customers exhibiting the highest risk of churning. They can be offered custom-tailored solutions while other customers can maintain the highest quality of service, making the world more productive.

STATISTICA Solution

  • Batch or Real-Time Processing: Use the models you have built to predict customer retention and indicate, either by batch or in real-time, the customers who are likely to churn, or transfer their business to another company.
  • Cutting-edge Predictive Analytics: STATISTICA provides a wide variety of high-performance, award-winning, sophisticated algorithms to build models which provide the most lift and highest accuracy.
  • Innovative Data Pre-processing Tools: STATISTICA provides a very comprehensive list of data management and data visualization tools.
  • Integrated Workflow: STATISTICA Decisioning Platform provides a streamlined workflow for powerful, rules-based, predictive analytics where business rules and industry regulations are used in conjunction with advanced analytics to build the best models.
  • Optimized Results: Compare the latest data mining algorithms side-by-side to determine which models provide the most gain and generate profit charts with ease.
  • Role-Based, Enterprise-Wide Scope: In a multi-user collaborative environment, you can use STATISTICA Enterprise to share data, improve models, and benefit from a collaborative work group.
  • Text Mining of Unstructured Data: Improve models by leveraging your unstructured data through powerful text mining algorithms.
  • Sequence and Association Analysis: Find and quantify associations between purchases and other customer behavior with STATISTICA’s Sequence Association and Link Analysis tool. This allows you to learn what items or services are frequently purchased together, or subsequently, and uncovers valuable patterns that you can use to improve marketing strategies.

Included Technologies

Success Stories

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Telecommunications Company Implements Customer Retention Strategy with STATISTICA Data Miner

 

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Statistica
2300 East 14th Street
Tulsa, Oklahoma, 74104
(918) 749-1119