Use Cases
Vector enables data engineers, data scientists, analysts, and business users to extract actionable insights from large and varied data. Users can identify trends, correlations, and other patterns in seconds from weblogs, click-paths, demographic, psychographic, geographic, mobile, and other data.
Customer Profile
Granular, multi-channel, real-time customer profile analytics can tell you about your customers, the best means to connect, targeted offers that will resonate, their likelihood to churn, and the best ways to personalize the customer experience to win more business and drive loyalty.
Using Vector, you can gain a more complete and accurate customer profile, mine all information from any location or channel, in any format, structured or unstructured, from an endless number of sources such as sales transactions, Web, social, mobile, purchase history, service history, and more.
Examine customer data to identify, attract, and retain your most profitable customers. Once you have integrated data from channels and sources, you can de-duplicate it, identify common characteristics, and segment customers.
Micro-Segmentation
Most companies segmenting customers use basic account information and demographics to find groups based on high-level account and behavioral metrics. Historical information is often so voluminous that it forces companies to work with samples. With Vector, you can connect to and mine your data, including big data, to get a detailed holistic view of the customer.
By uncovering relationships between customers and key purchase drivers and predicting the value of each customer along thousands of customer attributes, you can uncover new segments that your competition isn’t thinking about., You can also increase conversion and gain higher returns on your marketing investment.
Analyzing data in Vector can help you create a better customer experience with targeted offers, and effective communication. True customer engagement that is built on a deep understanding of specific needs and wants leads to more satisfied customers and longer lasting relationships, increasing revenue and wallet share for your business.
Customer Lifetime Value
Vector can help you maximize current and forecasted customer value across products, segments, and time and design programs that accentuate your best customers and provide you with a distinct business advantage.
You can connect data, from account histories and demographics to mobile and social media interactions, and combine these disparate sources with speed and accuracy. Vector analytics help you understand why someone purchases or rejects your products and identify which characteristics and behaviors lead to customer value at various points in time.
Generally, it is more cost effective to sell to existing customers than it is to acquire new ones. Vector can provide insights to optimize outbound marketing by giving prominence to your high-value customers. You can customize inbound customer touch centers by arming call centers with highly personalized customer scores and data. Vector helps you increase customer lifetime value cost effectively with individual precision, improving loyalty and profitability.
Next Best Action
Next best action maximizes long-term customer value by not only predicting what a customer will do next but influencing that action as well.
If you want specifics about customer behavior and spend, you need data , structured and unstructured, from traditional enterprise sources, social networks, customer service interactions, Web click streams, and other touch points. Vector lets you connect your data, regardless of format or location to build complete customer profiles which feed into your customer models.
You can use micro-segmentation models to find and classify similar customers and customer value models to predict the value of each customer at various intervals. Combining the output of these two models into a personalized recommendation engine gives you the information you need to take action. You can optimize your supply chain, customize campaigns with confidence, and drive meaningful, personalized engagement.
Campaign Optimization
You can stand out in a crowded market and capture more wallet share using Vector insights to deploy effective, innovative, highly personalized campaigns.
Traditional campaign optimization models use limited samples of transactional data, which can lead to incomplete customer views. Vector allows you to analyze data from social media and competitor web sites in real time to learn what is gaining traction in the marketplace. Web purchasing patterns and call center text logs provide valuable insight into customer interactions. Marketing and campaign data ensure recommended actions comply with company goals, rules, and regulations.
Vector helps you build, test, and deploy campaigns with rapid succession. Quickly learn when to adjust and adapt to changes in the market or your customer base. With your customer scores and optimized lists in hand, you can design innovative campaigns that allow you to create and sustain a competitive advantage.
Churn Analysis
Churn prediction models are often limited to account information and transactional history, a tiny fraction of available data. With Vector, increase the accuracy of churn prediction by combining and analyzing transactional and account data with call center text logs, past marketing, and campaign responses, competitive offers, social media, and a host of other data sources.
Vector gives you the ability to discover customer classifications and assign customer lifetime and churn scores to understand which customers you can’t afford to lose. You can generate raw churn predictions informed by individual customer profitability. Insights help you transform the customer experience without spending more than necessary.
You can share personalized recommendations with customer representatives, outbound marketing campaigns, and product and service supply planners. You will be able to create programs to retain your high-value customers and offload less profitable ones. As a result, you can boost average revenue per customer, improve customer satisfaction and loyalty, optimize supply chains, accurately price products, and better plan for new product releases.
Market Basket Analysis
Market basket analysis helps you uncover your most profitable products, learn which products benefit from associations with other products, optimize shelf arrangements, and better target promotions—all to increase revenue.
Market basket analysis models are typically limited to a small sample of historical receipt data, aggregated to a level where potential impact and insights are lost. With Vector, you can bring in additional sources, in varying formats, enabling discovery of critical patterns, at any product level, to create competitive advantage.
Vector enables data science models and advanced analytics to go deeper into detailed associations on product relationships, and segment customers and spending habits into similar groups to learn more about shoppers.
With detailed shopper segmentation and market basket analysis results, you can create a shelf optimization plan that identifies your highest performing products. Discovering buying patterns can lead to targeted promotions with greater impact on the customer experience..
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