Knowing your customers is becoming a greater challenge than ever. The stream of internal and external data is growing, the market is becoming more complex and behavior is getting more individualistic. When will a customer be interested in product X? Which customers show the highest potential? Which customers are about to leave? DataDetective allows to better understand and predict customer behavior by applying data mining to customer data. This enables organizations to optimize their product management, marketing strategies and Customer Relationship Management (CRM).
Applying the right data mining techniques strongly increases the return on marketing investments. Historical data of product sales and responses to campaigns can be used to predict customer interest in products. Market segments with specific customer profiles can be discovered, making a targeted approach possible. Analyzing previous marketing efforts helps to optimize current strategies.
To prevent the loss of customers, it is vitally important to gain more insight in the reasons customers leave. With DataDetective, it is possible to estimate the chance of a specific customer leaving you for a competitor, and to determine the market value of that customer in the future, as well as the effectiveness of strategies to retain that customer.
By mining claim histories, insurance companies can discover risk profiles faster and more accurately. These risk profiles are used to develop fair admission policies and to provide priority guidelines for investigating incoming claims.
Discovery of fraud
DataDetective can analyze transactions to discover irregularities and recognize risk profiles that may be linked to fraud.