Behavior-Based Personalization
VALUE PROPOSITION
- AI Automation delivering eye-opening insights designed to improve the customer journey, drive additional sales, significantly increase customer satisfaction and decrease churn
- A major Digital Transformation leap, by utilizing ELEMENT’s revolutionary Schemaless Knowledge Graph Technology
- Lower Total Cost of Ownership accomplished through shifting to OPEX by using cloud infrastructure and PaaS. Decreasing labor-intensive tasks by providing process-centric AI embedded applications
Gaining an individualized understanding of a leading credit card issuer’s millions of card holders. Highlighting multiple, fresh and unique insights used for personalization, leveraging only internal data sources due to regulatory requirements
BACKGROUND
Operating in a highly saturated market with high costs of customer acquisition, high churn and fierce competition, making organic growth extremely prohibitive
Management decision to differentiate by recommending personalised customer offerings and a revamped customer journey
TARGETS
- Increasing personalization and differentiation of marketed products, achieved by cross-referencing data, detecting meaningful patterns and insights, and obtaining a coherent picture that can seamlessly scale up
- Effectively monetising existing data assets, including unused or underused data sources composed of billions of transactions generated by issued cards, to generate new opportunities and substantially improve the personalized marketing of new and high-profit products and services
- Improving the customer journey, assuring acquisition of new customers and decreased churn
ADDRESSING THE NEED
- Generate a multitude of customisable reports, run out-of-the-box queries and create bespoke queries with easy system tools
- Achieve context-driven insights regarding multiple new segments and clusters to improve customer journey and reduced churn rates
- Dual Card Holder Analysis and Prediction enables management to obtain qualified leads and capitalise on customer acquisition by personalising discounts and products to customers who were using competitor-issued cards
- Early adopter functionality enables the company to approach customers with high receptivity to new services, significantly increasing profitability from these businesses
Other Use Cases
