Analytics: Data led decision making

Data led analytics is increasingly becoming the next frontier of innovation driven the huge proliferation of data in an accessible format and reducing cost of storage and increasing processing horse power that is enabling companies to draw insights that were otherwise not problem. Si-Creva has developed robust IP that can help banks, insurance companies and others to draw on this data and drive its decision making. Our work has resulted in significant impact on four dimensions:

  • Reducing cost of acquisition by increasing the leads to closure funnel throughput
  • Increasing wallet share of customers through targeted cross-sell and up-sell campaigns
  • Improving loyalty and retention
  • Increasing customer experience by enabling a value-oriented approach to customer service

Building analytics excellence in an organization is not about IT or sophisticated models but about an integrated approach across four dimensions:

  • An organization and governance model that is able to manage the cross-business co-ordination efficiently through a transfer pricing mechanism
  • Robust IP models – hypothesis driven to begin with, but continually evolving on the back of feedback loop from the front line
  • A lean campaign management process – that can seamlessly transfer the leads to the frontline, provide them with the requisite tools
  • A capability building effort to ingrain the concept of data and analytics across the organization