Razorsight today introduced a predictive analytics solution for the communications and media industry.
The Razorsight Real-Time Analytics Engine will allow senior executives to view a ranking of highest likely churn by regions, markets, or even cell sites for the upcoming week, month, or quarter, all from their smartphones. Operations and customer care executives can see similar rankings for likely outages and propensities for repeat trouble calls by region, markets, or nodes.
Real-Time Analytics features four new apps that provide on-the-go access to four critical business needs. Each app is designed for use by a different department to manage and improve the customer experience and boost revenue. The new apps include the following:
- Sales & Marketing CEM: Proactively drives new revenues and a superior customer experience via personalized offers.
- Finance: Enhances customer lifetime value by driving incremental value from each customer interaction through Treatment Optimization.
- Operations: Generates lines of questioning dynamically to improve customer service and vastly improve first call resolution rates.
- Network: Leverages trigger-based events to preemptively address issues before they become problems that impact customer satisfaction.
Razorsight delivers this micro-segmented level of insight through advanced statistical analysis to better pinpoint customer sentiment, potential churn, upsell opportunities, and to predict what will happen in the future across a service provider’s customer base and network assets. Razorsight's technology dynamically applies advanced algorithms to multiple data sets in real time, delivering discrete action recommendations based on the value of the customer.
"Razorsight's breakthrough in real-time analytics will empower communications companies to redefine their business models as they instantly receive unparalleled customer insights that allow executives to oversee a superior and highly differentiated customer experience," said Charlie Thomas, Razorsight's CEO, in a statement. "Now, for the first time, our customers can leverage their tablets and smartphones to gain real-time knowledge of essential customer data across a diverse array of variables, data sets, and attributes."
"We are now performing risk-scoring within seconds, with a goal of less than one second," said Chris Checco, Razorsight's president and chief analytics officer, in a statement.
Razorsight's real-time analytics delivers real-time scoring based on hundreds of potential variables, with the vital addition of predictive analytics that give insights into future customer behavior.
And with Razorsight's real-time analytics, new models can be developed and deployed in hours. For example, a wireless operator introducing a new handset can use the application to measure and act on customer reactions, making customized decisions on special offers depending on the value of a given customer.