Big Data Analytics Helps a Cable Services Provider to Become More Data-driven in its Decision-making Process
Over the past 15 years, the cable services industry has experienced tremendous growth due to the growing market penetration of voice services and the advent of high-speed data, adoption of the digital tier, and increasing video rates – specifically in the small and medium business sectors. However, due to the recent dip in the number […]READ MORE >>
Over the past 15 years, the cable services industry has experienced tremendous growth due to the growing market penetration of voice services and the advent of high-speed data, adoption of the digital tier, and increasing video rates – specifically in the small and medium business sectors. However, due to the recent dip in the number of subscribers in the video market and slow rate of subscriber growth in the voice business, the cable services industry will experience sluggish growth over the next couple of years.
With the help of big data analytics, cable services organizations can improve pricing accuracy, facilitate effective loss prevention, and create customized products. Additionally, with the relentless growth of big data analytics, organizations are bound to have unprecedented amounts of information to access and devise superior strategies and position their products and services better.
Moreover, the recent shift towards a consumer-centric business model is also forcing cable services providers to leverage big data analytics solutions to improve overall customer experience. With years of expertise in offering big data analytics solutions, Quantzig’s big data analytics experts help companies become more data-driven in their decision-making process.
A leading player in the cable services industry had proliferated through aggressive promotion, pricing and customer acquisitions. However, as the competition in the market increased the organization wanted to increase their focus to building stronger bonds and increased loyalty with their best customers. Additionally, the client wanted to gain insights on metrics to enhance customer satisfaction, improve loyalty and reduce churn rates to the company’s future growth and profitability.
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Big Data Analytics Solution Benefits
Through a robust engagement, the client gained an in-depth understanding of the customers, their needs, and buying behavior patterns. The client was able to further anticipate the future behavior of the customers and segmented the customers accordingly. Through an effective engagement, the client offered personalized products and services to the customers and was able to effectively tracked customers to predict and calculate risks. The big data analytics solution also helped the client leverage the use of predictive modeling to enhance fraud detection. The client was able to improve customer engagements and developed long-term relationships.
Big Data Analytics Solution Predictive Insights:
- Enhance customer experience, innovative products, and devise risk management strategies
- Automate processes in terms of the data entry compliance checks and repetitive tasks
- Streamline the purchasing procedure of the consumers and proactively track them
- Make daily adjustments to premium strategies, premium rates, and underwriting limits
- Take strategic and informed business decisions