A company wants to launch a new product in the market, what does it need other than a great product is the data to back its every decision, to make the product successful and profitable in the market. Years back, major modus operandi of analytics was to convert information to insights in a broader manner, but and when the competition became cutthroat companies realized the value of personalized marketing which is pretty not possible in a comprehensive approach in extracting insights.
When major strategical business decisions are taken on their understanding of the businesses, experience, it is difficult to convince them to depend on data analytics, which is objective, and data driven process where one embraces power of data and technology.
By the analysis of various parameters (eg: Incoming & outgoing voice usage, Recharge, Revenue, Usage of value added services, Usage of data services etc.) the entire customer base can be segmented on various groups whose behavior and needs will have significant difference which can be identified and addressed to enhance their wallet share.
Basically, managerial accounting factions deal with internal and external forces of transactions that influenced the businesses entity, to find out answers to the questions such as ‘what is the monetary productivity of the factory?’, or ‘how costly has raw material become?’, or ‘where can we cut down on costs?’, or ‘how can we maximize profit?’, or ‘where does the market or our competitors stand?’.
This takes into consideration different aspects of customer’s susceptibility to churn, including the history of people those who have churned in the past and build a data model that generates an easy-to-understand reference numbers (scores) assigned to each customers.