Companies can now predict future customer value and analyse large volumes of data to uncover hidden relationships, thanks to a new suite of customer relationship analytic (CRA) applications from Gentia Software.
ThinkCRA gives organisations the predictive intelligence to interact with their customers more effectively. It has been developed to provide large companies with the most sophisticated analysis available, using front office CRM activities for maximum ROI, adding value to front office, call centre and e-commerce applications.
The new suite of applications is targeted at senior executives, operational and customer-facing staff. Relevant customer knowledge is pushed to the right people at the right time through the most appropriate media, including web browsers, mobile phones, e-mail and PDAs. The application tools are scalable, providing organisations with continuous customer analytics, to reduce marketing and decision making cycles.
The tools allow management to role-play different business scenarios and compare the results against industry accepted metrics. Additionally, the application suite integrates seamlessly into operational and front office applications. The analysis models are validated in real-time and can adapt constantly to changing circumstances.
Gentia has formed a subsidiary devoted to the development, launch and marketing of thinkCRA. Tim Jones, chief technology officer at Gentia, will be heading up the CRA division.
“We have recognised the need for focus to bring this revolutionary solution to market, allowing us to rapidly make it available,” said Jones. “Customer segmentation and clustering have been poorly addressed in other products. Customer retention is high on every business agenda; we address the needs of those companies seeking improved return on their investment.
“It is essential to maintain an integrated approach in the analysis of customer relationship data to provide total customer understanding. There is a strong relationship between customer attributes, the products they buy, the loyalty they demonstrate and their impact on marketing initiatives. Only thinkCRA provides the necessary data integrity and knowledge sharing essential for successful analysis,” continued Jones.
The thinkCRA suite comprises four analysis modules: … thinkCustomer – provides multiple automated segmentation techniques that allow a comprehensive view of all aspects of customer interaction and attributes. … thinkLoyalty – applies various techniques to predict propensity to churn factors as well as lifetime-value. … thinkProduct – enables modelling of true product value and product mix and association. … thinkMarketing – provides measures of channel and marketing effectiveness. Used in conjunction with thinkLoyalty and thinkCustomer, churn-reduction and direct-marketing programs can be tracked.
“Often when people talk about CRM, the focus is on front office automation and not customer analysis,” said Liz Shahnam, vice-president in Meta Group‚s CRM INfusion program. “Our research suggests that CRM initiatives are at risk of failure due in part to the lack of an analytical CRM environment, including analytical applications to evaluate and interpret the large volumes of information generated.”
“CRM front office systems focus on collecting customer information and automating the front office. Increasingly, industry practitioners will use the customer knowledge provided by analytic solutions such as thinkCRA to realise significant business benefit,” Shahnam concluded.
Gentia Software is a leading supplier of intelligent analytical applications that sustain and improve business performance. Its integrated portfolio of software applications supports strategy management, performance measurement and operational analysis.