Razorsight: Real-time Predictive Insights in the Palm of your Hand

By: Chris Checco, Charlie Thomas

As tens of thousands begin to gather for the 2014 Mobile World Congress, all are focused on the show’s central theme – “Creating What’s Next.” 

This year Razorsight is taking innovation to a new level with the launch of the world’s first real time predictive analytics solution for Communications, Media and Entertainment companies.  Just bring your smartphone and launch your browser and you’re ready to use Razorsight’s unique, cloud based predictive insights platform.

The best way to learn more about Real Time Predictive Analytics and why this intriguing development may be “creating what’s next” for mobile operators and, for that matter, all communications, media and entertainment companies -- having Razorsight CEO Charlie Thomas and President and Chief Analytics Officer (CAO) Chris Checco directly address the most commonly asked questions about this breakthrough.

Razorsight recently launched real time analytics. Can we start by defining that term?

Charlie:  We define real time analytics as the application of business rules, statistical algorithms and workflow in the moment to deliver a superior customer experience derived from proactive and predictive insights that position operators to maximize CLV (customer lifetime value) and revenue per subscriber (ARPU).

What’s unique about Razorsight’s real time analytics?

Chris: Every operator already has retention programs, churn models, CRM systems, and so on.  They’re all doing increasingly good work with these systems today.  Universally, churn has improved.  We complement those systems and allow operators to move to a new dimension in customer experience by leveraging data science and predictive statistical algorithms.

Relative to “real time analytics,” operators presently utilize one component of the solution – real-time business rules.  That’s not the same as real time analytics.

Razorsight applies both real-time scoring/categorization algorithms plus the absolute business rules. Our software looks at thousands of variables per customer, assesses a myriad of statistical scoring algorithms, and renders a decision or recommendation to address that customer’s unique situation in real time. This allows operators to act in a way that precisely supports the customer’s need at that moment, delivering a superlative experience that increases loyalty while extending lifetime value and creating incremental revenue opportunities.

You’ve described real time analytics as a “game changer” for communications service providers – why?

Charlie: Differentiate, innovate or go home is the predicament mobile operators find themselves in given the plethora of over-the top apps, WiFi options, and rapidly changing user consumption habits.  Proactively addressing customers’ wants and needs is essential. 

With multiple devices per person, providers are simply cannibalizing one another’s customer bases.  With little to distinguish themselves beyond creative pricing and network quality,  customer experience becomes the main fulcrum for controlling a positive outcome and optimal revenue result.  Real time analytics enables service providers to proactively address various customer situations – from retention, to cross-sells and up-sells, and beyond. 

For instance, with real time analytics the operator can ensure that a customer receives an offer for a free phone replacement after X dropped calls in Y hours – before the customer files a complaint. That kind of preemptive strike is a loyalty builder.

Real time analytics will also become important in other areas such as micro-targeted advertising and real-time offers, as location-based services become more prolific.