You have the option of hiring data analytics consulting companies for $30K or more, but at the end of the business day, the major risk is that they will tell you there really are no trackable patterns. Why not pay a small amount for a company that has an existing infrastructure that can take your data and advise you on 1) how to use your data more effectively 2) how to increase revenue 3) how to reduce operational costs 4) how to be on top of your brand sentiment and much more.
Think of Numtra as a highly equipped company of data-loving geeks who already built the architecture that your marketing and leadership have been waiting for. We’ll work with you to build a business process model that your team can use to take the existing operations snapshot and perform a sensitivity analysis for each new strategy. These business process mapping tools can help with marketing campaigns, brand reception, churn, and far more.
After a process called data ingestion, we will take that data and build a linear regression model. These have become a necessity in all industries for predicting what we think will happen in the future. Linear regression allows us to identify trends and forecast where we think those trends will go. These forecasts are then used for operations management, i.e. scheduling, ordering, inventory, sales, buying trends, cash flows, etc. One of these predictions that Numtra specializes in is churn rate (sometimes called default or attrition rate).
We investigate your sales data to predict which customer is likely to default after the service is rendered. We do this through machine learning, which profiles customers to see who will default. You can use this data to accept or decline customer orders. You might also use this information to strategize sales tactics, i.e. granting one month of free service, with paid service thereafter. You can also use this data to downgrade customers. This might happen if the data shows that a particular customer will only pay for the cheapest services, potentially losing you money.
We can help you with this, and we can do it in half the time of other companies with our ready-made business process modeling architecture. It’s really fast, really cheap.
Contact Numtra for an assessment and conversation on business data science.
Find out what more your data can do to drive your business.