Positioning predictive analytics for customer retention

Abstract

Developing business vision should not be underestimated. Predictive analytics provides organisations with new opportunities to 'know what they know', but also predict future behaviours, leveraging these better insights to increase the value of their business. The power of propensity scoring based on historical data delivered as a service via cloud computing heralds the availability of capabilities that previously required teams of quantitative specialist to deliver. This paper outlines the development of a cloud-based self-service predictive decision support system (PDSS) for customer retention and attempts to position the outcomes of this implementation in the context of decision support, knowledge management and work practice evolution.