AbsolutData Technologies Inc. the leading Market Research and Analytics KPO, has developed the newest generation predictive modelling technology “Survival Analysis”, a technique used by the medical profession to predict the chances of patients more likely to survive a particular disease.
AbsolutData Technologies Inc. the leading Market Research and Analytics KPO, has developed the newest generation predictive modelling technology “Survival Analysis”, a technique used by the medical profession to predict the chances of patients more likely to survive a particular disease. AbsolutData developed this model at its New Delhi facility, for an online-media company to reduce “churn“ or cancellations and withdrawals among its subscribers. AbsolutData used statistical models that predict which subscribers are most likely to cancel their subscription within a month’s time. This is the first of-its-kind adaptation of an existing technique from a scientific discipline for commercial and business analytics.
This dramatic and innovative model provides applications in the high-end marketing analytics for business corporations and global companies - to their immense business advantage.
AbsolutData Technologies examined various customer or subscriber characteristics like usage history, usage trend, customer demographics and customer acquisition channel to isolate the specific variables that predicted customer “churn “over the next month. The Survival Analysis provided pointers and the company was able to target those customers with attractive marketing offers and dissuade them from cancelling their subscription.
AbsolutData was able to reverse the trend. Till the results of AbsolutData’s study were applied, the new subscribers the media company was adding every month were just about enough to replace the subscribers that were leaving, resulting in poor long-term growth of subscriber base. But through utilizing techniques in “Survival Analysis” and other advanced marketing analytics tools, AbsolutData has been able to point to customers who are likely to cancel subscription in advance, allowing the company to target these customers with attractive marketing offers and dissuade them from cancelling their subscription.
Since the conclusion of this engagement and applying the results of study, the online company has asked AbsolutData to leverage its high-end analytical capabilities to help in resolving other pressing marketing problems. “This project is a great example of the advanced analytics work that the AbsolutData team has excelled at”, says Dr. Anil Kaul, CEO of AbsolutData. “Our team in Delhi has time and again demonstrated that highly complex KPO projects can be successfully delivered out of India”
Dr. Kaul, who has previously been invited to speak at leading business schools such as Columbia, Yale, NYU and Dartmouth, plans to present the results of the online company project at a conference soon.
About AbsolutData
AbsolutData is a fast growing professional services firm that specializes in providing advanced marketing analytics and market research solutions to its world-wide client base by leveraging its teams in Alameda, CA and New Delhi, India. A pioneer in the KPO space, AbsolutData continues to innovate and deliver high-end services and advanced analytics such as Segmentation, Conjoint Analysis, CRM Analysis and several other quantitative methods for leading global brands and top international Market Research companies.
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