CUSTOMER CHURN POINT SOLUTION
Powerful insights were obtained when Intenda conducted a customer churn point solution for a large energy provider.
Three problems were identified at the outset of the project: the organization’s data was retail-focused and segmented according to account level metrics; the systems containing customer data and their feedback were not integrated; and business reporting was driven by static segmentation and reactive actions.
To address these issues, it would be necessary to design customer-centric insights, analysis, and actions; create a platform for data integration and a single customer view; and use analytics aligned to lifecycle to drive business reporting.
Building a Federated Features Library (FFL) was a key aspect of the point solution. Comprising Data Products that leverage the platform’s capability to work with structured and unstructured data and discover relationships between disparate sources, the FFL provides statistical validation across a federated view of the customer journey.
The project confirmed a correlation between churn, customer age and invoice amount, and demonstrated that customers who had previously complained were twice as likely to churn as those who had not. It also revealed that most customers who churned were on one of two specific plans, and that churn patterns varied significantly from one state to the next.
Without the Fraxses factor, this exercise would have taken an estimated four months to complete. With Fraxses, it took just 10 days.