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Found articles: 42

  • Recency, Frequency, RFM techniques for Customer Retention & Value Building

     In order to develop Customer Intelligence, a business needs to be able to measure its performance in the maintenance of profitable customer relationships. Customer intelligence attempts to define customer behaviour and then look for variances in that behaviour. The business rules which apply to the Customer relationship, need to be defined first.More

  • The spirit of CRM

     CRM is an approach which diversifies the customer facing processes, according to Customer groups of different value to the Enterprise. CRM is about tuning the consumption of Enterprise resources, in order to provide increased value to the valuable Customers.‘Tuning the consumption of Enterprise resources’ means trying to identify optimal approaches in investing existing budget to handle the Customer relationship.More

  • Business Intelligence in Taxation

     Government Finance Divisions manage the execution of the fiscal policy: management of the taxation and tax audit processmanagement of the budget execution process Within the taxation framework, each State aims to support its taxation policy: Support the efficient capture and processing of tax declarationsAssure the collection of tax revenue according to plansManage and reduce the risk of Citizen non-compliance: reduce tax evasion levels and fight financial crimeSupport the analysis of alternative future tax policies and relevant decision making, e.g. consequences of a change on State revenue Enhance the Citizen experience, during the tax compliance process (e.More

  • Enterprise Content Management: Convergence of Structured & Unstructured Data Management

     Enterprises are handling increasing amounts of unstructured data (electronic data that are not stored in a predefined structure, like office documents, e-mail, web info), frequently kept in repositories which have structures of limited efficiency & accessibility. Moreover the internal structure of files is usually not standardised and may not be efficient, in terms of information retrieval and reusability. According to international studies, more than 85% of business data are of unstructured nature.More

  • Test Campaign Result Accuracy – Test Group Sizing

     In a recent article [Testing – the most effective tool for database marketing], we have analysed the importance of testing in marketing campaign management. Testing is done by promoting an offer to a smaller group of customers in order to evaluate the effectiveness of the whole approach (value proposition, message used, timing, target group). This smaller group is a sample which is used to predict the behavior of a larger group.More

  • Customer-Centric Information Architecture For Efficient Customer Insight

     Traditionally, many large service businesses, have focused narrowly on direct operational needs like order handling & invoicing, when designing their information architecture. This way they have developed account-centric data structures. A real Customer could have more than one accounts, the records of which were unlinked in the customer database.More

  • Frequency & Monetary Analysis For Subscription Based Services

     Frequency (F) and Monetary (M) analysis, form together with Recency (R) the framework of RFM analysis. Though recency is the strongest predictor of future behavior, frequency and monetary analysis act in a complementary mode (to recency), to create a complete picture of the Customer behavior. There are many cases in which Recency analysis not coupled by Frequency & Monetary analysis, can give a misleading picture.More

  • Recency for Customer Retention on Subscription Based Services

     Recency is a technique used to predict future Customer behaviour, based on past Customer behaviour. It aims to capture & analyse how recently each Customer has interacted actively with a Business. If recency is measured by an appropriately selected metric, it can be a very powerful predictor of future customer behaviour.More

  • Customer Lifetime Value for Value-Based Servicing, a Realistic Analysis

     In order to serve their Customers according to their value (apply value-based-servicing), Businesses try to assess the value of each Customer. One approach to assess Customer value is by estimating the Customer Lifetime Value (hereafter CLV).A strict approach to the definition of CLV (or LTV) is the net present value of future cash inflows and outflows or profits (based on the principles of financial management), related to a specific Customer.More

  • Testing – the Most Effective Tool for Database Marketing

     Each marketing campaign plan should be tested on a smaller group of Customers, before being deployed. Based on the results of the test campaign, the marketing campaign can be reshaped to achieve better results.Testing is essential in every campaign, given that the business environment changes dynamically.More