This is our story of enabling a leading retailer to improve customer engagement, loyalty and basket sizes.
Consumer expectations and buying behaviors are changing quickly, requiring retailers to evolve their strategies and operations accordingly. Thus, customer analytics can play a more significant role in business operations, helping explore opportunities to enhance customer experience at every touch point. With the rising cost of customer acquisition, retention and loyalty strategies have also become critical.
To better understand buying behaviors as customers shopped across different stores using various loyalty and tender cards. This resulted in important customer data such as demographic data, loyalty data and campaign response behavior residing in silos in dispersed Point-of-Sale (POS) systems, making a unified view of the customer inaccessible for insights-based decision-making.
The company also wanted to make better marketing and commercial decisions, as the strategies used for store assortment, campaigns and loyalty benefits were judgment-based. There needed to be a quantitative analysis of marketing and campaign performance, with improved visibility into changing customer needs.
Moreover, the company needed access to multi-skilled teams to roll out a data strategy and analytics practice that would function consistently and deliver business outcomes.
We leveraged Triange Consult, the consulting arm of WNS Triange (our data, analytics and AI practice), to understand the client’s as-is process, identify the gaps and implement an end-to-end strategy. This led to the setting up of the analytics Center of Excellence (CoE) for the sales and marketing function, which helped achieve the following objectives:
Business analytics and insights: Provide actionable insights on shopper behavior, campaign performance and commercial impact
Data engineering: Create and maintain a data pipeline to capture 360-degree customer data with a self-serving model and dashboards
Advanced analytics: Use data science and statistical techniques to implement use cases such as customer segmentation, customer value prediction and churn prediction
Program management: Propose, prioritize and execute business use cases across all the above workstreams
Creating a single customer ID for transactions across loyalty and payment cards
Creating a cloud-based 360-degree customer data repository that captured transactions, campaign responses, demographic data and loyalty data
Enabling self-serve analytics for business users
Providing analytics-based actionable insights into shopping baskets, loyalty and promotional offers, and campaign performance
Executing advanced analytics use cases for customer segmentation, next best offer, customer value prediction, churn prediction and cross-sell recommendations
Through systematic data-driven decisions, actionable insights and advanced decision support models, WNS helped the client realize the full power of data and achieve impactful business outcomes. These included:
Additional revenue of USD 478 Mn due to effective personalization
Significant reduction in promo spending
Increased sales due to accurate predictions, hyper-personalization and optimization strategies
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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25 November 2022
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