you be able to track ROI on all data-enabled projects, you’ll also be able to run predictive analytics and simulate what-if scenarios. The backbone of your business strategy will then be formed by indisputable facts. 4 The data-driven organization is born 15 TOC Becoming a data-driven organization
CUSTOMER CHURN AND RETENTION CAN NOW BE PREDICTED. FUTURE PROFITABILITY OF PRODUCTS, CHANNELS AND SEGMENTS CAN BE BETTER EVALUATED UPFRONT. Eni is an integrated energy company with operations on five continents. In the highly competitive energy market, it’s crucial to build long-term relationships with clients. That’s why the company monitors and analyzes the behavior of its entire client base throughout the customer life cycle. The company developed a solid and trustworthy prediction model using more than 700 parameters, which gave Eni’s management: Valuable information about customers . Help in evaluating future profitability of the company’s product portfolio, sales channels and customer segments. What-if scenarios , allowing them to assess the impact of strategic decisions, such as changes in price or margin, reduced customer churn and more. User-friendly dashboards that make it easier to keep an eye on the long-term profitability of the entire customer base. BELGIUM | ENERGY | MARKETING & OPERATIONS ZOOM-IN ON Eni a 360° view on your customers “We calculate how much the customer will spend with us (revenues) and how long they will stay (retention). We also predict when we might experience payment issues (credit losses) with them and how much it will cost us to serve their needs (service costs).” Zdravka Jevtimov Customer Insights Manager, Eni 95 % 56 % In an annual CIO survey, Gartner found that 95 percent of CIOs expect their jobs to change or be remixed due to digitalization. A majority of CIOs say that technology trends, specifically cybersecurity and artificial intelligence, will significantly change how they do their jobs in the near future. Source: Gartner Survey of More Than 3,000 CIOs Confirms the Changing Role of the Chief Information Officer. Gartner Newsroom. According to CMO.com, best-in- class marketers are 56 percent more likely to use data and analytics platforms. However, only 19 percent of marketers fully track all their marketing efforts with data. Source: 15 Mind-Blowing Stats About Data-Driven Marketing. Giselle Abramovich. CMO.com. 16 TOC Becoming a data-driven organization
The next level in data-driven work
Being data-driven is not an end state. It’s the beginning of an exploration of exciting possibilities. As the pace of technology innovation accelerates, yesterday’s science fiction becomes today’s reality. Here are some elements that will fuel future data-driven organizations. Edge analytics Real-time, on-site analytics can track consumers’ in-store behavior and pair it with the right kind of offer bundles to attract attention and address the needs of the individual.
- Summer '17
- Data Management