Data Mining Marketing Business Intelligence
Why Use Data Mining?
According to a major study in 2010 by IBM most organisations perceive themselves as data rich but insight poor.
The bigger the company, the more research it buys and the less likely it is to mine that research, and correlate findings, to create synergy and extraordinary market insight.
Better segmentation creates better marketing execution, so let us help you like we’ve helped other businesses GROW BY OVER 20% with strategy honed from the research you’ve already paid for, letting us data mine and analyse existing research with our own special form of data mining.
Data Mining detects emerging opportunities and transforms available data into feasible action plans.
For the last decade our data mining experts have developed proprietary market research methods for market segmentation based upon behaviour. This customer market segmentation method, which we call Customer Value Management, exposes profit opportunities, reveals anti-attrition opportunities, identifies powerful customer acquisition opportunities, and uncovers untapped, attractive segments.
Market oriented data mining, and market segmentation disciplines together make Customer Value Management, one of the most sought-after services for our clients.
Data Mining generates a complete view of CUSTOMER behaviour to identify the top 10-20% of customers that contribute 65-90% of your profit.
Data Mining Customers at the Individual Level can be used to calibrate other customer research studies.
Data Mining your Internal data puts marketing and customer investments in perspective and usually results in lower and more directed marketing budgets.
Data Mining provides a 'feet-on-the-ground', true market picture of existing customer behaviour and value. Data Mining focuses on what people do and not what they say. It is therefore much more accurate than traditional, survey-based market research.
Data Mining feeds Customer Relationship Management (CRM) strategies
From Data Mining you will get a better understanding of customer information flows and customer behaviour at the individual level. The reliability of data mining means analysis and comparative re-analysis delivers an organisational learning environment with an ever increasing knowledge of customers
Comparability with compatible operational CRM systems, Data Mining and superior internal data analysis delivers the customers intelligence required for effective CRM operational implementation.
Data Mining Key Benefits
Increasingly accessible through improved and more cost effective information technology and tools.
Delivers cost effective and immediately actionable data for each customer at the individual customer level.
Powerful foundation for further primary research.
Understanding internal customer behaviour facilitates more targeted market research based on customers actual behaviour – eg. Lapsed Customer research and cross sell opportunities.
It is there for all customers.
Whilst the breadth of data is narrower than traditional market research the data and metrics are there (and actionable) for all customers
It is longitudinal and current and past customer behaviour can be analysed over time. Attrition, acquisition, value growth and decline ….. at the individual customer level.
Some deliverables from Data Mining
- Strategic Analytical Insights about Important Aspects of Existing Customers behaviour
- Understanding of the concentration of value amongst existing customers
- Current Value – how much is a customer worth now – for each customer
- Current Value by Product
- Past Value – how much were customers worth in the past.
- Value Volatility over time
- Value Migration over time
Deliverables and Outputs from Data Mining Analysis
- Strategic Analytical Insights about Important Aspects of Existing Customers behaviour
- Initial Segmentation of Existing Customers based on Behavioural characteristics
- Identification Opportunities for Value Creation amongst Existing Customers
- Greater understanding of the value of Internal data and recommendations for improvement and development
- Customer Data at the Individual Level which can be used to calibrate other customer research studies – eg. Satisfaction studies.
But the single most significant benefit of data mining is that management is empowered with MUCH more relevant information for better decision making.
Directly from data mining, one client saved $14M in modified promotional spending after analysis by our consultants!
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02 9904 5355Data Mining
5 Advantages of Data Mining
Analysis of your EXISTING Data can sometimes give a better view of your customer segments than external market research.
- Data Mining can identify the 10-20% of customers which contribute the 65-90% of profit to an organisation.
- The data is there for all customers, so you get comprehensive, accurate feedback.
- Data Mining is longitudinal and customer can be analysed over time.
- Increasingly accessible through improved and more cost effective information technology
- Data Mining is a powerful foundation for further primary research.
Data Mining Experts - leading data mining research in major industries
Launch Engineering's data mining market research specialists have data mined huge databases for a plethora of companies... Banks, utilities, insurance companies B2B and consumer products companies... confidently satisfying the most stringent and meticulous IT controls and concerns.
Wise Words
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