With e-commerce sales skyrocketing during the pandemic, a leading US retailer wanted to bump up profitability by re-imagining its customer engagement strategy.
Data was key to the retailer’s objective of driving customer retention through personalized, timely offers and creating awareness of all other categories.
WNS Triange – our data, analytics and AI practice – set up a data science center of excellence to help the retailer deliver a personalized customer experience and increase profitability.
This is our story of co-creating a data science center of excellence to transform the customer engagement strategy for a leading US retailer.
Since the start of the pandemic, online grocery shopping has seen exponential growth. New omni-channel models such as Buy Online, Pick Up in Store (BOPIS) have become increasingly popular. This has compelled retailers in the US to adopt innovative business models and tap new opportunities. It is more important than ever for enterprises to make informed and data-driven decisions to increase profitability through improved engagement, conversion and customer satisfaction.
To significantly increase e-commerce profitability by retaining customers with personalized and timely offers and increasing awareness of all other categories based on past purchases and purchasing cycles.
We leveraged Triange Center of Excellence (CoE), a core pillar of WNS Triange (our data, analytics and AI practice), to set up a Data Science CoE. This centralized unit facilitated data-driven business solutions across enterprise operations and customer strategy to drive the following objectives:
Promote the adoption of data science: Build and integrate machine learning / artificial intelligence models in the user’s decision flow
Support experimentation: Help design experiments, manage execution, conduct impact analysis and provide recommendations for follow-on analysis or experiments
Track and analyze: Capture online customer behavior by tracking logs such as views, clicks and the click-through rate; enrich data by cleaning and scrubbing, and ready it for business use
Extract data-driven insights: Extract data and insights, create dashboards and automate reports (recurring / one-time) on business request
Estimated the impact of de-listing and re-listing of products in the product catalog on gross margin, profitability and customer engagement
Predicted the next best product that a customer is most likely to engage with or purchase – based on shopping, browsing and search behavior
Improved effectiveness of marketing ‘widgets’ through a data-driven selection
Designed and developed a tagging and tracking process to:
Track clicks on Call to Action (CTA), preferences
Track all errors experienced by the customer
Track customers who complete the onboarding process
Track all customer-level identifiers to stitch e-commerce and clickstream events
The CoE was instrumental in significantly enhancing the accuracy of the client’s decision-making. Specifically, benefits from data-based insights included:
Significant uplift in sales and profitability
Improved customer awareness vis-a-vis product categories, resulting in deeper customer engagement and repeat purchase
WNS Triange (formerly WNS Research and Analytics practice) powers business growth and innovation for 120+ global companies with data, analytics and Artificial Intelligence (AI). Driven by a specialized team of over 4000 analysts, data scientists and domain experts, WNS Triange helps translate data into actionable insights for impactful decision-making. Built on the pillars of consulting (Triange Consult), future-ready platforms (Triange Nxt), and domain and technology (Triange CoE), WNS Triange seamlessly blends strategy, industry-specific nuances, AI and Machine Learning (ML) operations, and intelligent cloud platforms.
Driving a futuristic edge are WNS Triange’s modular cloud-based platforms and solutions leveraging advanced AI and ML to provide end-to-end integration and processing of data to actionable insights. WNS Triange leverages the combined strength of WNS’ domain expertise, co-creation labs, strategic partnerships and outcome-based engagement models.
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31 August 2023
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