From the dawn of trading, setting the best price for a product has been a skill that many have tried to master. Already in biblical times, merchants and their customers spent a lot of time bargaining before closing a deal; merchants tried to get a maximal profit out of a sale, while their customers tried to find the best deal for their purchase.
There is no industry in which value steering is so key as in the insurance industry. This is caused by the high cost of risk in this sector combined with the steep distribution between customers. However, value modelling at the customer level is very complex, driven by strong differences in customer behavior between and within business lines. As a result the majority of insurers currently steers on the margin per product.
Promotions are for supermarkets one of the most important marketing instruments. The promotion revenue in the Dutch supermarket sector each year is well over € 5 billion, which accounts for almost 15% of the total Dutch supermarket revenue of € 35 billion.
Recently, MIcompany analyzed the customer behavior of five theatres (and concert halls) over a period of three years. From this research – initiated by VSBfonds – it appeared that the loyalty of audiences to a great extent determines the success of the theatres.
Becoming a world-wide leader in a fast-growing business often relies on the acquisition of local champions. In addition, building a sustainable growth path requires careful balancing of fostering local entrepreneurship with central optimization. One of the key challenges that we encounter in the field of Big Data is how to build a global Business Intelligence (BI) and Data infrastructure.
The coming 5 years, the world of consumer goods is going to turn up-side-down. The old paradigm of large-scale product push is now – finally – evolving towards a more personalized, consumer-driven pull model. All driven by changes in technology and consumer behavior. Consumer goods companies will increasingly engage with consumers directly through digital channels.
In 2014, Knab realized an exponential growth in their number of customers by using the power of Data Analytics¹. After this success, there was a strong wish in the organization to continue this fact-based steering and spread it throughout the organization. Therefore, the Analytical Suite of MIcompany — a standardized analytical environment where the value development of customers can be followed, predicted and evaluated— was customized for Knab in 2015.
In 2009, InShared was founded. As a new player in the Dutch insurance market, the mission of InShared was to distinguish itself from other insurers by building a fully online operating company. In cooperation with MIcompany, InShared used the power of Data Analytics to understand how to create value by learning from the behavior of their customers.
In January 2011 the customers of the NS had suffered from serious waiting times and cancelled trains. This was now the second winter in a row, where management was forced to embark on a series of crisis interventions that would limit the damage done to their customers.
Handling a million bookings per day in more than 40 languages. Booking.com is the global market leader in the travel industry, handling over a million bookings per day. To optimize the way it handles the millions of customer interactions per day, Booking.com is well known to be one of the innovators in using Big Data Analytics.