Providing easy-to-use analytic solutions to decisionmakers can create tremendous value. When business users understand their customer behavior, demand and marketing response, target customers and anticipate their buying behavior, find problems before they occur and in general better manage risk and profitability, they can create measureable success.
With the tremendous processing power of databases and GPUs, it is possible to deploy solutions that provide insight on-demand. Since ALL front-end reporting tools can run our analytic models, it becomes easy for companies to quickly realize the benefits of pervasive analytics. Companies can create measurable success with demand generation and marketing response, customer targeting and anticipating their buying behavior. Operationally, companies can find problems before they occur and in general better manage risk and profitability better.
INCREASING REVENUE BY 1,000%
We’ve worked with many companies large and small to deploy pervasive analytic solutions. Projects have ranged from enabling cross-company forecasting to delivering analytic solutions to multiple divisions of Fortune 500 companies. One of the best examples of a company that is reaping the benefits of leveraging analytics is Trident Marketing.
In 2007, Trident Marketing CEO Steve Baldelli made what he calls a “revolutionary” change in how he approached his business. The result? “We grew from a $5 million company to a $53 million company in four years,” says Baldelli. “And we anticipate reaching $100 million in the next three years.” How did Trident Marketing increase its revenue by 1,000 percent in such a short timeframe? Baldelli’s story is about the power and importance of predictive analytics in today’s market. “We had stagnated as a USD5 million company,” he says. “Analytics are the primary driver of our efficiency and growth.”
Additional information about how Trident Marketing leverages analytics across their enterprise can be found in “Operational Analytics” which details the following benefits:
- Reduced the cost of sale by 50%
- Increased call center conversions by 10%
- Lowered customer churn by 10%
- Increased their revenue per call by 10%
These gains were accomplished because the visionary management team at Trident realized that deploying analytics into each area of their business would enhance the overall performance of the entire company. By working with each of their business units to determine the types of decision support models required, and then embedding them directly into their existing reporting tools and processes, Trident grew much faster than their competitors while simultaneously lowering cost.