More companies have started investing more time and money on predictive analytics in order to understand their customers’ behaviors in new ways. By analyzing cross-referenced customer profiles and purchase histories, these companies can predict the likelihood, or propensity, of future activity at a customer-specific level and then proceed with best next actions as necessary. For instance, anticipating future purchases enables a company to recommend (Cross-Sell /Upsell ) suitable products to customers.
Anticipating customer loss to competitors (i.e., churn), on the other hand, enables a company to intervene in hopes of increasing retention rates. All these profiles, purchase histories, best-next-action recommendations, and resolutions require large and potentially cumbersome transactional databases, so extracting valuable information requires the right toolset.
- Full Range of Solutions: Preparing data for analysis, feature selection, model selection, model evaluation and deployment. STATISTICA incorporates all these into one software package.
- Highly Sophisticated Tools: Build Propensity Models or Customer Behavior Scoring Models to predict future behavior of customers. Highly sophisticated and robust tools are also available for performing Recency, Frequency and Monetary (RFM) Analysis of previous purchases to understand customer behavior and define market segments.
- Sequence and Association Analysis: Find and quantify associations between purchases and behaviors (e.g., what items are frequently purchased together, subsequently, etc.) with STATISTICA’s Sequence Association and Link Analysis tool. Uncover these valuable patterns to improve marketing strategies.
- Enterprise-Wide Convenience: Build models in one department, test models in another department, and then start scoring in offices worldwide. STATISTICA Enterprise™ is a truly collaborative tool that leverages the full power of the best propensity models available.
- Reflexive Models for Real-Time Needs: Live Score® processes new transactions as they happen and updates propensity models in rapid turn-around times made possible only by STATISTICA’s integrated solutions.