Dr. Marie Taillard, Director of the Creativity Marketing
Centre at ESCP Europe Business School, and Judy Bayer, Director
Strategic Analytics for Teradata International, recently published
a blog on the
Harvard Business Review suggesting that bringing together team
members from different functions into an analytics team can boost
The corporate analytics culture and the experience of the
analytics team will play a key role in the approach adopted to
confront a challenge such as boosting customer retention.
Bayer and Taillard suggest that most analysts would probably
attempt to solve this problem by asking one of the following
- How do we create the best model to predict which customers are
most likely to churn?
- How can we help marketing retain more customers?
The approaches outlined above clearly bring value. However, the
authors have found that companies that explore the social aspects
of analytics are maximising on opportunities to use data to
completely transform their businesses.