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Predictive Analytics: A Tool for Good Times and Bad?
Aberdeen Group, Feb 2010
Enterprises are under pressure to predict the future behavior of customers and potential customers, and the internal performance of the organization more precisely than ever before. Potential gains for the organizations that do this well include higher customer retention, increased sales revenue, a reduction in fraud, increased productivity and ultimately, increased profitability.
Best-in-Class Performance
Aberdeen used the following key performance criteria to distinguish Best-in-Class companies:
- Forecast profit and loss for the last fiscal year accurate to within 8% of actual
- Customer retention - current customer retention rate of 93% and an 11% improvement in customer retention, year over year
- Operating profit - current operating profit of 23% and a 12% improvement in operatin profit, year over year
Reasons to buy:
- Boost Customer Retention
- Increase Operating Profit
- Grow Incremental Sales
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