HAMILTON, New Zealand and LONDON, August 10, 2011 /PRNewswire/ --
Next Generation Software Provides Fast-track for Companies Wanting to Expand Customer Analytics Capabilities
11Ants Analytics today launched the breakthrough 11Ants Customer Churn Analyzer to empower marketers to identify those customers statistically at risk of churning, allowing retention efforts to be focused on those specific customers.
With continued pressure on profitability, stemming customer churn is a logical and easy win. 11Ants Customer Churn Analyzer provides an affordable and rapid path for companies and individual departments to deploy complex analytics techniques in their battle against churn.
The solution has been designed so that it can be used 'out of the box' by marketers or business analysts and does not require any understanding of algorithms or intense predictive analytics experience. It is also powerful enough to assist even the most accomplished analytics experts do a better job, faster.
"This absolutely changes everything when it comes to who can build effective churn propensity models," says Tom Fuyala, Director, Business Development, 11Ants Analytics.
"Users can readily develop powerful models with literally a few mouse clicks, putting valuable customer insights directly into their hands in minutes or hours. Companies no longer have to choose between spending hundreds of thousands of dollars and going through a massive learning curve, or doing nothing."
11Ants Customer Churn Analyzer gives marketers a range of tools to understand a customer's likelihood of churning. The tool identifies the precise customers to contact in a retention campaign to maximize profitability. What if-scenarios can be performed at different spend levels across various retention offers and delivery channels. The solution also gives insights into the proven predictors of churn and the relative importance of the churn factors.
Users can also obtain a detailed drill down view of the profile of a churner versus a non-churner, and intuitive graphs help users understand the drivers of the underlying predictive model. Customer scoring can be performed in Microsoft Excel or for large customer databases scoring can be performed in-database with 11Ants Predictor.
Fuyala says, "A recent experiment validates the power of the technology. A non-expert was able to beat 85% of the expert contestants' submissions in an international data mining competition with a model which took less than 55 minutes of human work to construct. The automated features allow accomplished analytics experts and novices alike to be freed up from time consuming and repetitive tasks."
The solution also has other benefits according to Fuyala. "Customer insight departments are constantly challenged by not being able to explain their models to marketing departments. Our solution changes this completely, providing deeps insights into the workings of the model. For the first time it is not necessary to compromise a good model for an explainable model - it is now possible to have both."
11Ants Customer Churn Analyzer can be used to gain insight into at risk customers in sectors such as insurance, retailing, banking, telecommunications, utilities and health clubs. 11Ants Analytics will soon launch a complementary product, the 11Ants Customer Response Analyzer, which will assist marketers in determining which prospects are most likely to respond to marketing campaigns.
For more information visit http://www.11antsanalytics.com
ABOUT 11ANTS ANALYTICS
11Ants Analytics is the leader in assisted predictive analytics. 11Ants Analytics' software products greatly simplify businesses adoption and deployment of predictive analytics techniques. The products are powered by the breakthrough proprietary HyperLearn technology, the result of over three years of development by 11Ants Analytics, and inspired by machine learning research at New Zealand's University of Waikato - home of one of the most respected predictive analytics and machine learning groups in the world. 11Ants Analytics' development team is based in New Zealand. 11Ants Analytics is venture backed by Endeavour Capital, The New Zealand Venture Investment Fund and WaikatoLink, the commercialization company of the University of Waikato. http://www.11antsanalytics.com
SOURCE 11Ants Analytics