With Experian’s Strategy Management solutions, you can segment your customer portfolios into discrete subpopulations to define and test different business decisions or treatments. Features such as strategy testing, strategy simulation and champion / challenger testing provide the tools necessary to understand the effect of a new strategy on both the portfolio’s health and the decision processing time.
Decision components such as scorecards and segmentation trees can be tested as they are built and then retested as part of a full decision process flow. This allows users to eliminate any conflicts among the rules and ensure desired results are achieved prior to implementation.
Many organisations have developed excellent databases, with predictive models deployed through efficient decisioning software. Most also have the capability to rapidly produce detailed reports that help management to monitor targets. But even those that regularly refine and implement challenger strategy trees cannot be sure what opportunities are being missed or how far they are away from the optimal solution.
That’s because in reality, unless the outcome of every possible decision is known, how can an organisation be sure the best strategy has been implemented? More importantly, how much is the decision costing, in terms of lost potential profit and opportunity?
It is important to make the most of each customer interaction and maximise customer value. In a world, where there are thousands or maybe millions of customers, multiple touch points and many potential actions or offers, how can you ensure that your decisions will maximise sales and revenues whilst meeting your budget and customer contact policies?
Optimisation offers a simple solution to this previously highly complex challenge. The benefits of optimisation are significant. Experian has been helping organisations optimise risk and marketing strategies across for many years spanning a variety of industries from financial services to telecommunications and small business. Optimisation builds on the learning and modelling that an organisation has developed, and uses it to improve decisioning. Experian has, for example, worked with a number of organisations to implement a more granular approach to forecasting and profiling the return on capital.