Challenges in Specific Industries
While some questions are the same in all industries, others are very industry specific and can only be tackled with a deep understanding of the specific domain. The following sections describe challenges in specific industries and show how D1 Solutions helped to address these.
Private Banking
Challenges
- Keeping up with regulatory requirements
- Tailoring wealth management services towards individual customer needs
- Increasing wallet share and loyalty of existing clients, and targeting new client segments
- Keeping up with requirements regarding service-orientation
- Different P/L Views, Compliance, Risk Management
- Define relationship manager incentives to align individual objectives with corporate objectives
Craftsmanship
- Reporting
- ETL
- Mining
How Our Services Helped to Meet the Challenge
- Analysis of the reasons behind fee discounts
- Predictive churn analysis to contact customers in time before they leave
- Sales Performance Measurement
- Process Performance Measurement
- Revenue assurance process reporting ? Invoicing -> Payment
- Reporting system for data quality control process in order to improve ability to respond to legal requirements.
- Improved performance measurement
Banking
Challenges
- Increasing regulatory requirements
- Increasing demands for more service-orientation
- Churn Prevention
Craftsmanship
- Trainable classifiers
- Multiple P/L Views
- Click Stream Analysis
How Our Services Helped to Meet the Challenge
- Producing regulatory reports
- Designing Travel Data Warehouse
- Click Stream Analysis to detect optimal use of internal tools
Telecom
Challenges
- Targeted offering
- Efficiency in customer care
Domains for Data Insight
- Optimize marketing efficiency
- Optimize client services
- Targeted offerings for customer segments (where the segmentation is a result rather than a a-priori input for the project)
- Financial customer value analysis
- Identification of trend setting customers
How Our Services Helped to Meet the Challenge
- Measurement of efficiency of customer processes (activations, retention, relocation, etc.)
- Reporting on customer service efficiency and quality
- Management tool for target setting and target reviews
- Reporting in order to improve billing of outsourced services
Retail
Challenges
Market volatility and uncertainty are not just challenges for the financial industry. They are reflected in retail, too, with the additional element that the response to changing customer needs involves the movement of goods. Having the right merchandise in the shelf at the right time in the right quantity is a key success factor. Access to information from a wide range of data channels, as well as fast and precise data analysis is required. In one word: anticipation.
Domains for Data Insight
- Supply Chain Optimization
- Product Affinity Analysis / Basket Analysis
- Customer Demand Prediction
How Our Services Helped to Meet the Challenge
- Market basket analysis - determining the susceptibility of buying a product based on the purchase of another
- Customer loyalty analysis
- Profitability of products and customers
- Determination of the optimal marketing mix for special offers & promotions, and simulation of special offers & promotions effects
Utilities
Challenges
- Large and rapidly growing data volumes (think: more and more networked sensors)
- Emerging market with rapidly changing conditions (liberalization still ongoing, new market actors, new regulatory requirements)
- Growing relevance of commodities in the world market (Oil, Gas, CO2 Cert., etc.)
- Complex KPI hierarchy
- Integration of both internal and external as well as structured and unstructured data (e.g. trades, contracts, demand as a function of time, weather, politics, rumors)
- Regulatory demands, e.g. for CO2 emissions
How Our Services Helped to Meet the Challenge
- Operating the trade data warehouse and reporting system
- Implementation of the required reports
Transport
Challenges
More than other industries, transport and logistics rely on integrating a multitude of different data sources. The availability and current location of goods, fuel, personnel, engines, and other infrastructure has to be tracked close to real time to arrive at a reasonably fast inform - orient - decide - act cycle. Without this ability, resilient production of the required transport services is impossible.
How Our Services Helped to Meet the Challenge
- Data Architecture
- Designing data cubes for capacity planning
- Implementing MIS capable of deeply combining data from multiple sources
Health
Challenges
Limiting the ever-rising cost of health care while maintaining an acceptable standard of medical services is one of the big challenges for societies today. Business Intelligence is at the very heart of these efforts and helps in identifying cost drivers and eliminating fraud. The popular new managed care models would not be possible without tight integration of all treatment and patient data.
Domains for Data Insight
- Tracking provider cost and performance
- Identifying cost drivers
- Fraud prevention
- Medical talent retention
- Targeting profitable patient groups
How Our Services Helped to Meet the Challenge
- Data integration of heterogeneous managed care services
- Campaign Management
- Integrating nationwide cost data with insurer specific data