SaaS Company Improves Data Decisioning and Profits Using Analytics and Statistical Reasoning | A Success Story by Quantzig
LONDON--(BUSINESS WIRE)--#AI--Leading analytics service provider Quantzig announces the completion of its recent engagement, during which they collaborated with a SaaS company that develops and sells software to stream licensed videos on demand.
The success story offers comprehensive insights into how a SaaS company benefited by adopting a systematic, analytics-driven satistical approach to predict customer churn and risks, eventually improving decision-making and profits.
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The complicated business landscape, the proliferation of business-critical data sets, and the pressing desire to stay at the forefront of competition have prompted SaaS companies to focus on using analytics to drive strategic business decisions. Embracing analytics and statistical reasoning to analyze increasing amounts of data available will empower business leaders to drive change and thrive in the modern business era. But to get started, firms need to assess their capabilities and build the necessary skills to achieve current and future business objectives. Facing similar issues, a leading SaaS company approached Quantzig to embrace analytics to improve data decisioning and gain a leading edge. Quantzig helped the client implement a process architecture that embeds analytics into critical processes to provide actionable insights.
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Factors that prompted the SaaS provider to collaborate with Quantzig
Inability to predict and prevent customer churn: The lack of expertise and skillsets required to analyze and draw insights from customer data proved to be a major challenge. This resulted in several customers opting for other SaaS providers leading to a decline in margins.
The ongoing need to micro-target customers and personalize their products and services: Given the high competition, the client wanted to micro-target their customers by offering customized packages to suit their business requirements.
Lack of a holistic view of brand performance: To make crucial business decisions, the client wanted to gain a holistic view of their brand performance. They also wanted to leverage an analytics-based performance tracking solution to track and monitor performance.
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How did a systematic statistical approach help the SaaS firm?
Quantzig adopted a comprehensive three-pronged approach to help the client tackle their challenges. The solutions offered enabled the client to track and gauge critical metrics. These insights were used to determine the most profitable campaigns for optimizing churn levels by focusing only on the profitable customer groups.
Besides, these benefits the analytics solutions offered enabled them to identify the right channels and promotion strategy for improving profitability through targeted campaigns. Leveraging analytics and statistical approaches also enabled the client to-
- Tactically use the insights to improve margins and brand performance
- Drive sales and brand awareness
- Strengthen brand value by customizing the value proposition
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Quantzig is the world's foremost full-service advanced analytics and business intelligence solution provider, turning clients' complex, unstructured data into intelligent, actionable insights that enable them to solve complex business problems and inspire innovation, change, and growth.
Over the past 16 years, our insights have helped over 120 clients spanning across industries and sectors like Pharmaceutical and Life Sciences, Retail and CPG, Food and Beverage, and more. We have successfully delivered 1500 in-depth solutions in areas like Marketing Analytics, Customer Analytics, Supply Chain Analytics, and more. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
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