Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its latest customer segmentation analytics engagement for a leading online payment services provider based out of North America. This success story explains how Quantzig’s advanced analytics solutions helped the client to drive greater profits by targeting the right customer groups.
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Segmenting customers is crucial for businesses in the financial services sector, as it helps them target specific groups based on the unique needs of the individuals. But with dynamic customer preferences and the ever-growing competition, it is indeed quite challenging for companies to identify and target potential customers. In such a scenario, customer segmentation analytics solutions can help organizations to drive greater profits by segmenting the customers into homogenous groups. Our dedicated ‘Customer Analytics Centre of Excellence’ with a team of 20+ data scientists and d
omain experts work hand-in-hand to help clients tackle the challenges hindering their business operations.
Talk to our analytics experts to learn more about the use cases of customer segmentation in the banking industry.
The Business Challenge
With a growing customer base and huge troves of complex data sets to analyze, the client found it challenging to derive the insights that were essential for targeting and decision making. Subsequently, the client approached us with specific issues related to their customers, which was to be unraveled based on their transaction data.
The client’s challenges spanned two core areas including:
- Diverse customer base
- Unstructured customer data sets
“Building customized strategies to address customer related issues is the most effective way to tackle the challenges around customer satisfaction,” says a customer analytics expert from Quantzig.
The massive growth in data sets and the increased need for data analysis encourages organizations to address the needs of the customers by segmenting them into smaller cohorts. Gain limited-time complimentary access to our analytics platform and learn how we can help you segment your customer base.
The Solution Offered & Value Delivered
In collaboration with Quantzig, the client leveraged clustering algorithms and time-series analysis to gain deeper insights into their customer segments. This helped them to model the behavior of churned customers across different cohorts while offering a better understanding of segment-wise behavior.
Quantzig’s customer segmentation analytics solutions also empowered the client to:
- Improve customer engagement
- Reduce churn rate by over 9%
Quantzig's customer segmentation solutions offered predictive insights on:
- Analyzing the needs and preferences of customers
- Targeting customers based on their requirements
Harnessing the power of customer analytics can help you turn insights into actions to improve customer experiences and engagement rates. Contact our analytics experts to learn more about the business benefits of customer segmentation.
Recent Success Stories:
- How an E-commerce Business Increased their Clickthrough Rate by 120% – A Clickstream Analytics Case Study by Quantzig
- Luxury Retail Brand Improves Sales by 15% Through Personalized Campaigns – Quantzig’s Retail Analytics Services Engagement
- Big Data Analytics Helped a Client to Ease Data Processing & Improve Service Efficiency by 12%
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
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