Case Study: Improved Account Retention with Predictive Analytics

Predictive Analytics Consulting | Small Business Consulting - Improved Account Retention - Process Zip - Boutique Consulting Firm

Problem: High rate of customer account attrition

Solution: Customized Risk Reduction Scoring

Outcomes:

  • Machine learning algorithms (95% accurate) predict thousands of customers’ future behaviors on a weekly basis.
  • Improved marketing efforts and saved hundreds of accounts and thousands of $ for the organization.

How We Did It

Predictive Analytics Consulting

This company with a global presence in 60+ countries wanted to retain more accounts during their yearly sales process. Working together, the team at Process Zip conducted an initial state analysis and realized that although the company had a lot of data, it was not being used to predict which accounts were at risk for leaving.

With our Predictive Analytics Consulting service, we worked with the organization to find the right tools (ERP) to set up an automated workflow (Intelligent Workflow Design) for data to upload into its business intelligence platform. Using 5 years of past data, predictive retention scores were created for each of the organization’s accounts to see which were more likely to leave (Predictive Analytics). Scores were 95%+ predictive, meaning that they were highly reliable for targeting and retaining the right accounts each year.

Automated Predictive Analytics Workflow

Now, the organization uses this automated process and its predictive scores to target the right accounts, improve customer experience, and retain more accounts.

Learn more about how you can save time and save your business in our popular Medium.com article To Kill a Timesuck.