SOURCE: Razorsight

Razorsight

November 20, 2014 10:04 ET

Real-Time Predictive Analytics: Are Companies Ready to Take Full Advantage?

Gartner Highlights Razorsight's Capabilities in Its 2014 Worldwide Competitive Landscape Report on Multichannel Campaign Management

ATLANTA, GA--(Marketwired - Nov 20, 2014) - As companies invest hundreds of millions in data acquisition and analytical systems, Razorsight President and Chief Analytics Officer Chris Checco is turning to the next question: Are they ready to integrate the resulting real-time insights into their day-to-day decision-making from an organizational and business systems perspective?

At the November 11 Telecom Analytics World conference in Atlanta, keynote speaker Checco outlined the landscape in analytics today, noting how existing business systems can be integrated with predictive analytics to provide real-time customer insights. He added that earlier approaches, like a Business Rule Engine model that uses heuristic profiles or a Batch Analytics Model that uses statistical profiles, can be integrated with Run-Time Analytics, which uses statistical algorithms based on real-time data, to provide far more flexibility and predictive firepower to deliver far better customer experiences.

"We have moved from providing data to providing real-time insights and customized customer touch-points," Checco said. With real time predictive analytics, it's now possible to predict when a customer is likely to leave, thereby allowing proactive actions and better customer experiences, Checco added. For example, it is possible to anticipate problems with customers, determine what offer is likely to sway that customer to stay, and then place it in the channel that is most likely to appeal to that customer, using Run-Time Analytics.

Checco noted, like other speakers at the conference, that installing the analytics platform was only part of the process. "We often find that companies struggle to adapt their organizations to take full advantage of predictive analytics insights, especially where customer ownership have been historically siloed."

Checco, whose firm Razorsight provides cloud-based predictive analytics solutions, noted that a robust system can provide appropriate insights to different functions within the company. A call center needs a historical view, coupled with a prescriptive script, while a marketer needs predictive insights. "To take full competitive advantage of Big Data insights, a company needs a fresh approach in how they use analytics to evolve business support systems that emphasize the customer first," Checco added.

In other news, Gartner, the world's leading technology research company, has named Razorsight as a key player in its 2014 Worldwide Competitive Landscape Report on multichannel campaign management, pointing to its unique combination of descriptive and predictive analytics for sales, marketing, customer experience and finance.

Gartner cited Razorsight's ability to provide segmentation and predictive analytics for key campaign channels including Web, SMS, in-app, IPTV and inbound. Other firms included Oracle, IBM and SAP.

About Razorsight

Razorsight's innovative, powerful cloud-based Predictive Analytics solutions are used by the world's leading communications & media brands including AT&T, Verizon, Comcast, T-Mobile, Telus, Orange, CenturyLink, Windstream, Virgin Mobile and Facebook, to drive smarter decisions, enable faster actions and optimize outcomes. Executives can immediately impact business drivers such as CLV, operating expense, customer acquisition and experience, revenue, operations, and financial and risk management. Razorsight's pre-built cloud products allow customers to deploy quickly, providing a fast ROI with minimal initial investment and no complex IT integration. www.razorsight.com

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