LONDON--(BUSINESS WIRE)--Quantzig, global data analytics and advisory firm, that delivers actionable analytics solutions presents a new case study series that focuses on how coronavirus is impacting businesses across geographies. The ongoing crisis has not only impacted the payment gateway market, but several other industries are also witnessing a rise in pressure from all aspects of the value chain. In such a situation, gaining insights into business operations by monitoring and tracking KPIs across multiple dimensions can help generate data to feed the continuous improvement initiatives of businesses.
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The transformation of the COVID-19 outbreak into a pandemic has brought about significant shifts in business processes and market needs. The pandemic is provoking severe budgetary strains in many segments of the economy, due to which companies are forced to scale down operations to balance the financial impact of the crisis. In this case, the client found it challenging to identify the reason behind customer churn owing to the complexity of datasets and the inability of their BI tools to gauge data at scale. They wanted to leverage churn analysis to address this challenge and improve the effectiveness of their marketing campaigns.
How Quantzig’s COVID-19 business support solutions can help payment gateway provider companies?
● Our specially curated analytics solutions focus on ensuring business continuity to help businesses navigate the crisis
● We also offer access to a library of best practices and analytics methodologies that can help businesses carry out operations smoothly by identifying the COVID-19 impact areas
● Our services involve combinations of components like portal access, ad-hoc/steady projects, and consulting services
Navigating the crisis is no big deal, provided you possess the organizational readiness to shift and adapt to a different environment. Talk to our analytics experts to learn how we can help you adapt and thrive in the new normal.
Customer Churn Analytics Engagement Overview:
The current global scenario in which businesses are struggling to stay afloat is truly unprecedented. The global supply chain has been disrupted, lockdowns have been enforced, and businesses have been pushed to adapt and thrive in the new reality. Though systematic recovery is still a rarity in today’s banking world, the probability of winning back lost customers looks promising with advanced churn analysis models that are capable of retaining customers. What’s even more interesting is the fact that the cost of recovering a former customer accounts for just one-third of the cost of acquiring a new one. Moreover, banks are generally well-aware of their former customers, their creditworthiness, how they use their products, and their preferences, making it easier for them to retain and recover former customers rather than acquiring new ones.
Quantzig’s customer churn analytics solutions helped the client to:
● Reduce customer churn rate to 3%
● Improve customer retention rate by 85%
● Improve annual ROI by 70%
According to Quantzig’s customer churn analytics experts, “Due to the wide range of alternative financial products and competing providers, customer churn rates now lie anywhere between 20% to 30%.”
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Quantzig’s Customer Churn Analytics Value Proposition
Our industry-leading solutions combine cutting-edge analytics methodologies, advanced algorithms, and data science with intuitive, interactive dashboards that help drive shareholder value and business outcomes. Quantzig’s advanced analytics platforms also ensure complete visibility into business and supply chain operations, empowering businesses to enhance efficiency. By adopting our solutions organizations can realize the benefits of lower operating costs obtained by optimizing fulfillment, customer experience, and improvements in overall business performance. What sets us apart amid the competition is that our proprietary algorithms and advanced analytics platforms are designed to support the unique needs of our clients from different industries, thereby ensuring we deliver maximum value and returns to our clients.
Quantzig’s customer analytics capabilities include:
1: Customer lifetime value
2: Customer segmentation analytics
3: Customer loyalty and churn analytics
Based on our analysis, the impact of the ongoing crisis will have a prolonged effect on key business processes, and companies will have to deploy advanced analytics models that leverage machine learning algorithms to ingest large disaggregated data sets and identify data patterns.
We predict that 2020 will bring in a host of new challenges for the payment gateway provider industry in the form of:
● Data complexities
● Rise in competition
● Stringent regulations
With over 15+ years of experience in offering advanced marketing analytics solutions, our analytics experts have developed a comprehensive solutions portfolio that can help you extract more value from your investments by leveraging analytics at strategic points in the value chain. Request more information to learn more about our capabilities and analytics offerings.
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Explore our COVID-19 resource library for detailed analyst insights: https://bit.ly/2xcQsfI
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal