Posts tagged as:

segmentation

Customer Centricity Strategy #3 – Mass Customization

December 17, 2008

Wrapping up my responses to John Schmidt’s post on Customer Centricity with a discussion of Mass Customization. John describes this as managing trade-offs and building sophisticated models to customize your response to each and every customer based on their value…

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Microtrends and a new column in the WSJ

December 11, 2008

I worked with Kinney Zalesne back when I was speaking about decision management on the Silverlink product tour (I blogged about it here). She and Mark Penn have just started a new column in the WSJ called Microtrends (the same name as their book – Microtrends: The Small Forces Behind Tomorrow’s Big Changes – which [...]

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Getting to the Right Price with Oracle Data Mining

December 2, 2008

Rachel Scales presented on Getting to the Right Price: Using BI Apps with Oracle Data Mining to Improve You Company’s Margins. Pricing is increasingly complex as the world is changing and becoming more competitive. Customer loyalties are changing, resources are constrained and competition is more global. Price management is necessary to ensure your share of [...]

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On Best Buy’s success and being decision-centric

November 19, 2008

Last week I saw a post comparing Best Buy and Circuit City – one thriving and one going into bankruptcy – and it made me think about the role of decision management in Best Buy’s success. I have head Best Buy present various times an a number of elements of their successful customer-centricity strategy are [...]

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Using Decision Management for Customer Retention

November 10, 2008

CRM Daily had a nice little article on Customer Retention that reminded me of the example I often use for how the elements of decision management contribute to more effective customer retention decisions. Large organizations spend vast sums on retention – one bank, for instance, spends $1Bn annually – and retention is a perfect candidate [...]

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Integrating Predictive Analytics and BRM to Improve Health Plan Member Experience

October 30, 2008

Two gentlemen from Deloitte presented Integrating Predictive Analytics and BRM to Improve Health Plan Member Experience. 80% of healthcare costs are incurred by 20% of members and traditionally the 20% get all the focus. Analytics and data mining get applied to claims, authorization, costs as a result. Segmentation focuses on the unprofitable and unhealthy. Increasingly [...]

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Building Blocks of Decision Management

October 30, 2008

Michele Edelman of Discover presented on Building Blocks of Decision Management: “Tools to Rule”. Michele spends a lot of time educating people inside Discover and her team use sources like McKinsey to show executives why EDM matters. For instance, a report on top 10 macro-economic trends:

Centers of economic activity will shift profoundly not just globally [...]

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Hotwire.com Revenue Management

October 28, 2008

Darren Koch presented on Hotwire.com’s use of ILOG business rules in revenue management. Summary:

Ongoing segmentation and optimization help businesses serve customers
Smart testing + flexibility = better service = higher profits
Continues to show ROI that is increasing over time

Hotwire.com was founded in 1999 to help travel partners (who invested) sell excess inventory without driving down prices [...]

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Evidence-based (decision-centric) CRM Processes

October 22, 2008

Graham Hill wrote a piece on Evidence-based CRM that focused on evidence-based CRM programs and it made me think about evidence-based CRM processes.
To me, evidence-based CRM means customer relationships, and thus customer treatments, that are based on evidence (data) and not judgment, hope, guesswork etc. It means

making offers that you have evidence this customer will [...]

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Franchises, localization and decision management

September 25, 2008

I live in Palo Alto and a new Mountain Mike’s Pizza has just opened up near us. Much as we like MM pizza we have two problems – we like wholewheat dough and, as several members of my family are lactose/milk intolerant, soy cheese. If you have visited or live in Palo Alto you will [...]

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Collections Best Practices

September 23, 2008

Jeff Bernstein of Strategem Portfolio Services gave an overview of the latest developments in collections. Jeff’s company has a product called Strategy Director (about which I blogged before). Jeff does a lot of work with collections groups and all too often sees a failure to implement analytics even where those analytic models are being developed [...]

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Marketing and Customer Segmentation with Xeno

September 22, 2008

Delivering the best value proposition using segmentation is a multi-step journey with 6 main steps and some critical differences from other analytic approaches:

Define Segmentation Objectives
The first step – deciding why to build a segmentation scheme – is important but often overlooked. Reasons may include declining financial performance, changes in strategy or market trends – the [...]

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Segmentation and product design

September 18, 2008

Scott had a great article on segmentation and personas this week that is a nice, quick read. I think the use of analytics in persona design can make a big difference (as I have noted before) and that decision management can use good customer segmentation as a first step towards extreme personalization.
If you are not [...]

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Transpromotional marketing with EDM

July 18, 2008

Transpromotional marketing – yes, another new phrase that I heard for the first time this week. Wooing Customers in a Weak Economy was the source – an article on 1:1. Chris Stone wrote the article and it talks about the need to use different channels to contact customers and to do so consistently and in [...]

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Book Review – The Best Service is No Service

July 1, 2008

The Best Service is No Service: How to Liberate Your Customers from Customer Service, Keep Them Happy, and Control Costs
I just finished reading The Best Service is No Service: How to Liberate Your Customers from Customer Service, Keep Them Happy, and Control Costs and I can’t recommend it too highly.
This is a tremendous book laying [...]

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Here’s how to improve your personas with analytics

June 5, 2008

Some time ago the folks over at the Analytical Engine had a post about Data Driven Persona Development. I loved the way they described taking a very qualitative approach – persona development – and adding some analytic rigor to it. Given my interest in using analytics for segmentation and in developing different websites/experiences for different [...]

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Banks, analytics and customers

May 12, 2008

Having just written a post about how vague the word analytics is, I see Ann All’s post Banks Using Analytics to Boost Customer Retention. What’s interesting about Ann’s post is not that she makes it clear what kind of analytics she is discussing but that almost any of the various kinds of analytics can [...]

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Here’s how you can deliver extreme personalization

May 2, 2008

Two articles caught my eye yesterday – Robert Nascenzi wrote an article “Real-Time Segmentation Levels the Playing Field” over on Destination CRM while Jeremy Nedelka wrote “The Ultimate Personalized Marketing” over on 1:1. Both articles focusing me in on what I have called “extreme personalization”. Jeremy’s article was a cute story about a school targeting [...]

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Live from InterACT – Closing Keynote

April 30, 2008

Ted Iacobuzio of TowerGroup gave the closing keynote, expanding on the survey results Fair Isaac announced today. More than 100 of the InterACT attendees took the survey – clearly this is top of mind. Some highlights:

Lenders appreciate the need for integrated customer information and multi-product decisioning
Lenders are not all at the same speed in implementation
Respondents [...]

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Live from InterACT – Changing the game

April 30, 2008

A collections session next with folks from Adeptra, Fair Isaac and GE Money talking about GE’s vision for virtual collections. The collections environment is extremely bad this year with massive growth in the need for collection agents. Delinquencies are up, problems are up, consumers are stressed. Scores are worsening (credit profiles are worse), payments are [...]

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