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.
Watch our video on this point solution.
To remain competitive, organizations require a new approach that enables them to maximise the value of their data. Gartner Top Trends in Data and Analytics for 2021 advances the data fabric as an architecture to replace traditional monolithic frameworks:
“A data fabric utilizes continuous analytics of existing, discoverable and inferenced metadata assets to support the design, deployment and utilization of integrated and reusable data objects regardless of deployment platform and architectural approach.”
Gartner research suggests that with this architecture in place, organizations can expect a 30% reduction in both integration design and deployment time, and a 70% reduction in maintenance time.
Fraxses gives Intenda’s clients all the tools they need to implement a data fabric within their organizations. In connecting an organization’s data sources so that they function as a single virtual environment, Fraxses advances the domain-driven architecture that is central to the data fabric concept.
Fraxses facilitates bilateral communication between systems, and enables automated writeback and write forward through the platform itself. It is a metadata-driven solution, with data being accessed via reusable data products and served to users directly from the source. As a low-code/no-code solution, Fraxses empowers business users to engage with data without the need for IT support.
Like to learn more? Reply to this email should you like to learn more about Fraxses or the Intenda offering. We are happy to answer your questions.
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