Boosting Sales Through Business Intelligence & Predictive Analytics

Transcription

1 Boosting Sales Through Business Intelligence & Predictive Analytics A Whitepaper

2 More and more telecom operators have started to realize that so as to grow their business in a fiercely competitive market, proactive measures have to be put in place to drive revenue. Boosting sales requires a holistic approach that takes into account customer related analysis such as 360-degree view, segmentation, lifetime value, etc. Executive Summary Telecom operators have realized the importance of proactive measures to be put in place to drive revenue in a fiercely competitive market. Deep insights into customers behavioral patterns, preferences, etc., will help telcos provide the right products and services to the right customers at the right times. Successful sales closures depend on many critical factors such as the process, acceleration, and pricing. In addition, optimization and data have come into picture as the vital ingredients, bringing the other factors together for closing the deals faster. CRM systems, sales analytics, and acceleration solutions provide enormous amount of data, which can be transformed as actionable insights with trends and correlations derived from various sources. Data mining and analytics help sales leaders discover trends and patterns toward the customer needs, accelerating the revenue growth. These insights also help in customer retention; for instance, it is found that the more the number of products used by customers, the longer they stay with the provider. Therefore, it is evident that today s fast-paced telecom marketplace demands well-informed decisions quicker, making use of the abundant data available with the telecom operators. The process helps telcos achieve sustainable growth in customer base, ARPU, and revenue. Key Challenges Traditionally, business intelligence and analytics occupied its own silo within each department, without much coordination with other departments. Boosting sales requires a holistic approach that takes into account customer-related analysis such as 360- degree view, segmentation, lifetime value, etc., in addition to sales- and marketing-related analysis, such as past buying patterns and behaviors, channel preferences, purchasing power, campaign response patterns, etc. These challenges augment the complexity of the coordination across various departments within the operator: Results generated by one analysis have to be integrated with the system to aid other related analyses. In order to maximize profits, business intelligence and analytics systems should be designed to work together with the data across multiple departments as well as provide a feedback loop for constant learning and restructuring.

3 The key is to bring the information from various source systems together and model the data marts to provide the required flexibility in terms of creating reports with multiple dimensions. Sales Intelligence & Analytics The holistic Sales Intelligence & Analytics solution from Prodapt covers the following areas: Customer Analysis: Gain 360- degree insights into detailed customer behavior, preferences, etc. Sales Analysis: Gain insights into current sales performance across multiple customer types, geographies, time frames, etc. (e.g., Salesforce integration). Predictive Cross-Sell/Upsell Analysis: Identify the likelihood of a customer to purchase a particular product or solution based on their existing products. Marketing Campaign Response Analysis: Determine the right channel, time, and method for the products offered to potential customers. The solution is truly holistic, providing an end-to-end view of the customers and their preferences as well as the information on whether the sales team is pitching the right products to the right customers. The solution also provides insights into the best methods to reach potential buyers. 1. Customer Analysis CRM-based Customer Analysis is a major solution in Sales Intelligence & Analytics that provides the following key insights: Drill-down view of customer base Revenue generated per customer Geography-wise analysis Bill presentment and payment patterns Customer tenure & lifetime value The input for this analysis is primarily customer demographics (gender, age, income, and educational qualification) and account information (account type, service-based charges and revenue, bill payment date and time, bill due date, and geography). A large part of this information is already there in the CRM systems of any telecom operator. Customer Analysis brings the entire input together and models the data marts to help generate multidimensional reports. The reports, segmenting high-value customers and the popular products, will help telcos gain a clear perspective of their customers. 2. Sales Analysis The next step of analysis is Sales Analysis, which provides an outlook into the products and services attempted to be sold to customers, the success rate, etc. The sales projections, cross-sell/upsell projections, and marketing campaign response analysis are essential aspects of Sales Analysis.

4 The key data used for this analysis include: Opportunities Account details Product usage information Information on sales teams Sales Analysis reports help telcos identify top performing sales representatives, products being sold by those representatives, types of products being offered to customers, etc. In addition, the reports will be matched with the findings from crosssell/upsell projections. Sales Analysis optimizes the sales process within a telco and makes it more effective and profitable. Prodapt s Predictive Cross-Sell/Upsell Analysis provides a predictive, analyticsbased approach that makes use of a wide array of data. 3. Predictive Cross-Sell/Upsell Analysis Cross-selling and upselling deal with introducing additional products and services to existing customers and prospects. Traditionally, cross-selling and upselling depend on the skills of sales and customer service representatives to pitch related products and services to their customers. It either happens alongside the initial sale or after it. It is not unusual for customers to not specify their exact requirements and enquire whether telcos provide products and services to meet those requirements. Crossselling and upselling tap into these potential targets through a number of techniques. Prodapt s Predictive Cross-Sell/Upsell Analysis provides a predictive, analytics-based approach that makes use of a wide array of data, including customer demographic and customer product information, to develop a prediction model that can accurately predict buyers and non-buyers of a product (based on the historical data analysis). The methodology leverages decision tree classification algorithms to not only predict the potential buyers but also generate the underlying rules for them; these rules and classifications help telcos generate actionable insights for the sales and marketing teams.

5 The vision of the solution is fulfilling genuine customer needs, thus improving the market share, ARPU, and revenue for telecom operators. 4. Marketing Campaign Response Analysis As part of optimizing the expenditure on sales and marketing activities, Prodapt s Marketing Campaign Response Analysis helps telcos identify the exact channels to contact prospective customers. The report from Predictive Cross-Sell/ Upsell Analysis, which gives a list of potential buyers, needs to be crossprocessed with customer preferences to understand the best way to approach interested customers. For instance, customers not interested in mailer campaigns will ignore them even if the right product is offered. Such cases lead to marketing budget being spent in the wrong channels. Hence, the marketing campaign prediction is very important to identify the likelihood of a particular customer to respond to a campaign. Prodapt s Marketing Campaign Response Analysis leverages decision tree classification algorithms to identify potential responders, so that the marketing budget can be used more effectively. The solution allows telecom operators to increase the chance of contacting the right customer with the right product. Conclusion Prodpt s Sales Intelligence & Analytics solution is designed specifically for the business development of telecom operators. Delving end to end from customer insights analysis to product and campaign analysis, the solution ensures that telecom operators have all the information to make sales more effective with assured reduction in the sales and marketing expenses. The vision of the solution is fulfilling genuine customer needs, thus improving the market share, ARPU, and revenue for telecom operators. While the pressure to improve sales is ongoing, Sales Intelligence & Analytics acts as a non-invasive, but integral, part of every customer interaction. In addition to increasing the revenue through additional business, the solution can greatly enhance customer loyalty.

6 About Prodapt Prodapt is a leading provider of software, engineering, and operations services with a singular focus on the information and communications technology (ICT) industry. Prodapt endeavors to maximize the value at competitive cost for global communications service providers (CSPs), independent software vendors (ISVs), and network equipment manufacturers (NEMs). Prodapt s services and solutions span across Operations/Business Support Systems (O/BSS), Machine-to-Machine/Internet of Things (M2M/IoT), Remote Infrastructure Management (RIM), Telecom Business Process Services, and Network Product Engineering. Prodapt is a niche telecom services company with expertise in service delivery and fulfillment, network service assurance, and integrated customer and revenue management. Full-fledged and constantly evolving O/BSS offerings from Prodapt will provide telcos with profitability and uncompromised customer experience, through service quality, customer touchpoint experience, and branding. Prodapt offers flexibility to telcos through targeted solutions and services (both cloud and on-premise) across BI & analytics, digitization, mobility, and B2B & B2C services. Prodapt has over the years partnered with global leaders in the communications industry including Fortune 500 companies. In-depth telecom expertise, competitive costing, and enterprise-level flexibility make Prodapt the partner of choice in the telecom domain. Headquartered in Chennai, India, Prodapt has operations in the US, Europe, and South Africa. The organization is part of a 120-year-old Indian business conglomerate, The Jhaver Group, employing over 15,500 people across 60+ global locations. The Jhaver Group has business in IT services, healthcare, chemicals, pharmaceuticals, agrochemicals, textiles, apparel accessories, and the BPO industry. India Prodapt Solutions Prince Infocity II, 4th Floor, No. 283/4, Rajiv Gandhi Salai (OMR), Kandanchavadi, Chennai , India Ph: Fax: Prodapt Solutions Module1, Tower 1, 6th Floor, Chennai One IT Special Economic Zone, Pallavaram - Thoraipakkam 200 feet Road, Thoraipakkam, Chennai , India Ph: Fax: North America Europe South Africa Prodapt North America South Center, 7565 SW Mohawk, Building M, Tualatin, Oregon Prodapt Consulting BV 2288 ED, Rijswijk, The Netherlands Prodapt South Africa No. 3, Third Avenue, Rivonia 2128, Johannesburg, South Africa Ph: Fax: Prodapt Solutions 1014 BM, Amsterdam, The Netherlands Ph: Ph: Ph: Fax: