Determining the Best Offer using WhatIf Analysis

+
Customers

1 +
Offers

$ 300000 +
Potential savings

Best offer analysis- the big picture

In today’s competitive energy market, proactive customer delight was the client’s key focus. With escalating customer acquisition costs, it was imperative to prevent customer churn. Ensuring the best offer for their customers and maximize their savings was critical. Best offer analysis will add to better customer service and satisfaction.

 

The idea was to provide best offers to their existing customers. This was the client’s way to reward for their loyalty. But with varied customer profiles and launch of new offers every few days. It was a challenging task to keep up with the idea.

Business Concerns on Offer analysis

A major area of concern for the customer was the complexity involved in getting to the best offer. While all the data was present, they were in silos and enough to generate a customer’s invoice. Accessing historical usage data included customer plans, rates and offers during the period. This meant churning a lot of data that was not accessible in a ready to use format.

 

This included processing 650,000 + customer accounts. Cross fuel type, jurisdictions, rates and offer (jurisdiction specific) were the associated info. The only source for all the details was the previous invoices of the customers.
Regulatory needs made it critical that all the calculation be as accurate. The results and insights gained is send to the authorities when needed.

Driving best offer analysis using Infoveave

The solution involved various modules and features of Infoveave working together to meet the expectations.

 

The Custom File Parser module, processed the unstructured invoice data. The key information extracted were consumption volume, current offer and concessions.

 

The Jobs & Tasks module automated the regular pickup and parse of Invoice Data. Once it is complete, will then trigger the WhatIf Analysis.

 

The WhatIf Analysis module ran scenarios simulating customer on various offers. These simulations helped in arriving at the best offer for customers. Thus, automating the end-to-end process flow.

 

The Dashboard & Report modules provided deeper insights on customers billing plans and offers. Thus, highlighting who were on the best offer and who were not.

Increase in efficiency from best offer analysis

  • Better financial control –  Simulations for new rates and offers. This optimized the gross margins before launch

 

  • Increased efficiency – Reduce new offer launch times by over 50%.

 

  • Reduced costs – Highlighted issues with invoice data. This reduced inbound calls and queries from customers (incorrect or missing information).

 

  • Improved governance – Automated scheduling of internal and regulatory reports.

 

  • Enhanced integration – The WhatIf exposed APIs that provided extra support to other business. This included the website and call center to name a few.

Industry

Utilities

Geography

Australia

Client

One of the fastest growing energy and gas providers
"Infoveave makes the whole process of data analysis seamless and makes insights accessible to all parts of our business"
VP - Sales & Strategy

The Need for Best Offer analysis

  • Manage and process large volumes of customer data 
  • Support different formulas based on customer profile and usage
  • Ability to run gross margin analysis across rates and offers
  • Ability to calculate customer spend for future rates, offers and demand
  • Extensible to allow integration with other organisational portals and services
  • What-if Analysis and Goal Seeking
  • Custom File Parser
  • Jobs & Tasks
  • Dashboard and Reporting
  • Mobile Application
  • API Store

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