The Opportunity
- This client provides analytical services to national direct marketing companies. The services include instances where credit is extended to consumer for purchases.
- As the direct marketing business has evolved, they have found that the effectiveness of targeting techniques has changed. Additionally, the ability to predict the likelihood of consumer default has become difficult.
- They sought a breakthrough to help them increase purchasing while identifying consumer credit applicants who would not likely default.
Our Approach
- We proposed to conduct a current state assessment and present recommendations and potential courses of action to undertake in making plans to move forward.
- The recommendations would be in the areas of methodology and technique improvements, data enhancement and augmentation, analytical technology and software packages, and the development of skill sets.
The Impact
The client understood, through the current state assessment, where they were assessed on Tom Davenport’s DELTA stage model, along with six analytics success factors.
Our recommendations provided them with a plan for these top strategies:
- Business model
- Data: more and better
- Dynamic pricing
- Customer understanding and personalization.
Ancillary supporting strategy recommendations included:
- Methodologies
- Technology
- Human / process factors