Analytics makes a huge difference in customer retention rates

To retain customers and stem a high exit rate Assurant Solutions, a US credit insurance and debt protection products company, developed an analytics programme called Real-time Analytics Matching Platform (RAMP). Mathematicians and actuaries found that analytics could assist the company by leveraging the fact that some customer service reps (CSR) were extremely successful at dealing with certain types of customers. By using past data experience they predicted where a rapport would be likely to ha...

BPIR Categories

10.2.4 Use analytical (predictive/ text / statistics) techniques on data
10.4.4 Manage internal information & knowledge sharing
1.1.6 Analyse customer data
1.2.5 Predict customer purchasing behaviour
4.2.1 Manage sales & sell products & services
1.3.2 Determine & provide customer contact mechanisms