Alteryx Designer Cloud helps businesses to retain customers with a solution for churn analytics
Today, churn analytics have become an essential tool in the prevention of customer churn which can be an expensive toll on a business’s bottom line. The lost revenue alone is reason enough to want to prevent churn, not to mention the added marketing expenses to acquire new customers. While customer retention is typically seen as a lagging business indicator—as a business could only assess what has gone wrong after losing the customer— with increased data access, more successful companies have developed predictive churn analytics tools and practices to identify their at-risk customers and proactively prevent them from taking their business elsewhere.
Churn analytics: the biggest rewards require big effort
Accurate churn analytics involves managing a lot of customer data, which initially must be transformed into a format suitable for analysis. Data preparation, an important first step in churn analytics, is especially challenging due to:
- The increased use of social media, web-based customer support, and digital transactions make the overall volume of customer data available today overwhelming.
- Source data with incomplete or inadequately validated fields that require cleanup. Phone number data, when entered by multiple users, might have numerous mixtures of parentheses and dashes that need to be made consistent, for example.
- Customer data is often in formats unfit for analysis. For instance, your customer call records may contain obscure code entries that would be best translated into user recognizable text.
Alteryx Designer Cloud: Your indispensable tool for churn analytics
Designer Cloud allows businesses to better manage customer data for more efficient churn analysis. With Designer Cloud, companies can quickly and simply normalize complex customer data into a useful format for analysis, reducing the typical time spent in data preparation by up to 80%.
Here are but a few of the advantages Designer Cloud brings to your churn analytics:
- Faster time to value – Designer Cloud’s unique innovations create a synergy between user and machine, each side learning from the other and increasing insight with experience. Every select, click, or drag in Designer Cloud leads to a prediction, which expedites the churn analytics process.
- Enabling customer experts to handle the data – Designer Cloud’s easy to use interface makes it possible for the analysts most familiar with customer data to implement the changes themselves. This takes IT interdependence out of the equation and enables your company to more quickly react and find new insights that will make your churn analytics a success.
- More precise churn analytics – Designer Cloud displays automated visual depictions of data based upon its content, which gives analysts a better understanding of their data. Detailed graphical representations also allow for deeper data exploration, providing an intuitive understanding of the data at a more granular level. The outliers and incorrect data are easy to identify and normalize, preventing erroneous data from impacting downstream churn analytics work.
Converting minor customer interactions into major insights
Gaining a competitive advantage through churn analytics rests principally upon the ability to determine your customers’ changing conditions, preferences, and actions. The Designer Cloud technology significantly magnifies the benefit of a company’s customer churn data by enabling analysts to easily transform and enhance raw complex data into clean and structured formats for churn analytics.
Designer Cloud can help drive new insights in churn analytics, sign up for a 30 day free trial.