Imagine being able to identify ‘at risk’ customers before they even realised they had a problem. A bit like Minority Report… Having the insight to predict an issue before there even really was one. That’s what we can do using the power of analytics.
Advanced customer analytics – a case study
Working with one of Australia’s leading universities, we applied advanced analytics techniques to identify students most likely to drop out of their courses. The objective was to identify, support and retain students at risk of dropping out – before the students themselves even knew there was a problem.
Bringing together data from a range of systems across the university, we built a model of student engagement and demonstrated the correlation between engagement and degree completion. Our experienced consultants analysed socio-demographic and enrolment data of all students university-wide, surfacing insights on a fully functional dashboard supporting drill-down by faculty, school, course, and subject. The analysis of students included library and online learning platforms, so basic metrics for study engagement could be developed for each student. Furthermore, we developed predictive models highlighting students likely to reach a ‘fail’ outcome.
Our model enabled the university to identify students most at risk of leaving their course. This meant they could start taking pro-active actions to mitigate these risks. As an added benefit, the same techniques could also identify the students most likely to go on to postgraduate study.
Through analysis of student subject choices and assessment, we delivered rich insights and recommendations involving the ideal course options for specific outcomes, and optimum pre-requisite learning pathways.
Advanced analytics and customer retention
Here at Analytics8 we work with our clients to understand, segment and predict customer behaviour. We generate insights that can be leveraged to optimise customer retention and the value of customer relationships. The Data Scientists in our Advanced Analytics team use a range of sophisticated techniques to develop deep business insight. These techniques include statistical modelling, machine learning and data mining.
We can help you identify and detect customers at risk of leaving so you can start doing something about it. We can also track and forecast customer behaviour and help you better understand customer value so you can optimise your marketing investment.
Want to chat with one of our independent consultants about what we can do for you? Contact us now for an obligation free appointment.