Published by Savio Saldanha, May 15, 2020. savio@repsupport.org | High-value, cost effective AI solutions.

Dear leader,
The COVID19 pandemic may have wreaked havoc to the national and global economy, and you probably feel its effects. I write to you to talk about the silver lining that this dark cloud offers us. My mind is flooded with the many possibilities of growth available to us even in this hopeless situation. Over the course of my writing, I will share with you all of these possibilities so that you leverage and implement them for your own success.

Accelerating growth, in an anemic environment.

Data sciences and AI algorithms have gained greater popularity and I recommend a sensible use of its power to help you enhance your marketing effort and also increase sales as follows:

• A bank used card transactional data to develop offers that gave customers incentives to make regular purchases from one of the bank’s merchants. This boosted the bank’s commissions, added revenue for its merchants, and provided more value to the customer.

The take-away from the example?

Leveraging detailed customer profiles:

Acquiring and analyzing detailed profiles of customers, together with transactional data, can improve the acquisition and retention of clients, as well as cross- and upselling.

The aim is to identify patterns in the data you have that:

1. Directs your marketing efforts towards customers who are more likely to be responsive to your campaigns
2. Directs your efforts in developing and promoting products and services that are more likely to be acquired by the customer

What data should you be looking at?

I would prefer that you examine and analyze data that describes your customer and their corresponding purchases and acquisitions of your products and services. Data that resembles:

1. Demography

2. Culture
3. Location
4. Account balances
5. Historical spends – amount spent, and product / service categories acquired
6. Time period of the transactions
7. General national and international trends

Please feel free to contact me at savio@repsupport.org for ways in which your organization can garner insights from data with this technique.

I wish you all the very best in life.

Warm regards,

Savio
savio@repsupport.org
+91-9768349000

P.S.: My team and I draw insights and develop solutions using open source technology like Python and R, thereby lowering costs significantly.