Wouldn’t you like to have a crystal ball to predict the behavior of your customers? Or the behavior of your employees or your machinery?
For attrition risk, churn risk, sentiment, predictive maintenance and even more, predictive analytics are becoming more and more important to respond to customers and reduce costs. We can’t give you a crystal ball, but with Meteor we can give you a predictive service based on statistical models – a service with proven reliability.
Why predictive analytics?
Predictive analytics are no longer just nice to have; they are absolutely essential. Not only for sales and marketing, but also for HR policy and reliable maintenance.
SALES. Thanks to the Worldwide Web, customers are more fickle than ever. Here today, gone tomorrow – it looks like product loyalty is a thing of the past. With good predictive analytics, you have the means to reduce your customer churn.
HR POLICY. By learning what motivates your employees and what demotivates them, you can predict which ones are likely to leave the company prematurely. You can prevent this attrition by taking more targeted actions to counter it.
MAINTENANCE. With good predictive analytics, you can maintain your machinery economically – not too late (with costly outage and repairs), but not too early either.
What’s wrong with my current BI tool?
Nothing. However, BI reports look backward, while predictive analytics look forward on the same basis. They examine the relationships between the basic data that affect specific outcomes. This gives you a basis for making predictions – if you know how and why something happened in the past, you can predict what the consequences will be in the future.
The potential outcome varies from one company to the next, but a recent study by the Aberdeen Group showed that “companies using predictive analytics achieved a 1% improvement in operating profit margins over the last year, and a 6% year-on-year increase in customer retention. Companies not using predictive technologies experienced a 2% decline in profit margins, and a 1% drop in their customer retention rate.”
What is Meteor exactly?
Meteor is a service from Realdolmen that enables companies to obtain insights based on statistical models without large up-front investments. This service includes all necessary activities, hardware and software for everything from underpinning your business case to delivering insightful reports and analytics.
Along with the convenience of the service, we promise to deliver results in just a few weeks, even in complex situations. This means you can quickly make adjustments or initiate new actions based on the results of our service.
The quality of this service is assured by the expertise of our Data Insights consultants and the renowned SAS® software.
Who in my company can use Meteor?
Everybody. Every department benefits from predictive analytics and can use the service. Some examples:
- Marketing – to proactively organize special offers and promotions tailored to individual customers.
- Sales – to fulfill your customers’ needs before they are even aware of them.
- HR – to engage in a dialogue with employees before they start thinking about leaving.
- Maintenance technicians – to determine the most cost-effective maintenance intervals for machines.
With the Meteor service, you are free to choose where and when this service will be available within your organization.
What does Realdolmen offer?
With Meteor we offer you a service consisting of the following components:
- We deliver results: a data set with a prediction, a report or an analysis.
- We update your models periodically, as needed and depending on your wishes.
- We provide and maintain the platform for the technology, including the hardware and the necessary SAS® statistical software.
- We process the source data that you supply in our format, or we handle the integration of your data into our system.
- If desired, we provide a predictive analytics operational plug-in for any front-end, for example CRM tools such as Microsoft Dynamics. This gives you real-time embedding of the predictive analytics results in your applications
- We provide operational support – 24/7 if necessary.
- We grow together with your company. We can easily accommodate future expansion of data, servers and models.
How much does Meteor cost?
Meteor does not require any capital expenditures for resources or training, so the entry threshold is attractively low for many companies. The Meteor service is based on the OPEX model, which means you pay according to how long you use the service.
Any extra functions or activities on top of the standard service are provided as small projects on a time and material basis. The level of effort for these small projects ranges from a few days to a couple of weeks. We would be pleased to meet with you to explore whether the standard service is sufficient or determine what else is necessary to fulfil your wishes.