Data Science That Delights & Delivers
Just ‘knowing’ your customers is table stakes. Winning now requires that companies compete on their ability to learn. How fast and nimble can they respond to live data and insights?
How well can they leverage data to predict what might happen next to keep each individual customer (B2C or B2B) loyal and spending more of their tight budget with you? A true ‘customer-first’ business requires a data-first strategy and culture that delivers a sustainable system of insights.
Elevating Both B2C and B2B
B2C brands and retailers pioneered (many with the help of our team members) the data science strategies and tools that now define the Customer Experience management space.
But a Customer Experience based approach also offers B2B companies significant impact opportunities as well. Clear Peak is leading in this area with custom tailored solutions like Customer Profit Optimization – that gives you the insights and tools to help maximize the lifetime profitability of each and every customer, and Demand Shaping that leverage prescriptive insights to reduce required inventory levels, optimize assortment mix and maximize your profitability.
The Elite Team To Partner With
We live in an age of the ‘connected individual.’ Marketers and merchandisers have always been the closest to the customers they serve. In today’s reality marketers now need to drive the tech decisions in their organizations.
But being a data scientist is not inherent in the marketer’s DNA. Do you have the people, capacity and process to master the growing mountain of data, and the math required to make sense of it?
That’s where Clear Peak can help. Our Customer Experience practice is led by Sean Kervin, one of the true pioneers of Data Science, Customer Insights and Machine Learning – he’s been doing it long before it was cool. Our seasoned, integrated team are your “quants on demand.” They’re the Sherpas you can rely on to get you to your peak.
Offerings and Capabilities
Customer Insights & Segmentation
Which of your customers are most loyal? Which customers are most price sensitive? Which products are most important to your best customers? Do you even know who your best customers are?
Clear Peak Customer Insights & Segmentation gives you deep, proprietary insights into who your best customers are, what they buy, when they buy, how they buy – and more importantly, which customer have the potential to become best customers in the future.
We offer everything from quick-hit one-time analyses to custom-built enterprise applications and everything in-between.
Promotional Optimization & Forecasting
We all know the saying: Half the money I spend on promotion is wasted… and now Clear Peak has the tools to know which is which.
We can help you better forecast your promotions and more precisely quantify which of your historical promotions had the highest ROI – and most importantly the factors that made them successful.
Your cost went up. If you pass the cost on to the customer, will they leave? Do you take a little more profit? Should you invest? What will your competition do? What should you do?
Pricing is difficult – there are thousands of factors to consider. That’s why it takes predictive and prescriptive analytics to make the optimal decision.
Traditional Price Optimization is focused on short-term profit gains at the expense of long-term loyalty. On the other hand, loyalty models can only identify price-sensitive items. The classic dilemma is that Optimization models will never lower a price and Loyalty models only erode margin.
Clear Peak has deep history in both camps and our models are unique. They balance long-term loyalty with short-term profit and bring together the knowledge of the merchant with the data science algorithms to arrive at a balanced solution.
Do you just want a quick analysis to understand how to improve your pricing strategy or do you want something bigger? We can help.
Assortment Planning & Optimization
Of the Four-P’s, the mix of products and services you present to your customers is the one most likely to be sub-optimal.
Most assortment decisions are based on incorrect heuristics:
- Keep the top-selling offerings and eliminate the lowest sellers (bad idea)
- Our customers want the widest assortment possible (bad idea)
- Choice impairs decision – our customers want just a couple choices (bad idea)
The right way to rationalize your assortment is to understand the unique need each product fulfills, segment your customers to understand their unique desires and have a clear good-better-best strategy for each of your customer segments.
That’s hard to do – but we have the tools to make it straight-forward.
Demand Planning & Forecasting
Most business leaders falsely believe there is only one problem to solve when it comes to forecasting: “improve accuracy.” But that’s only about 20% of the real problem, and it comes later.
The first thing to tackle is variance: it’s that little ± symbol. If your forecasts don’t come with a ±, then you have a much bigger problem on your hands, because you don’t know the risk associated with your predictions. You need to treat a forecast of $1M±200k and $1M±8k very differently, but it’s shocking how many organizations do not include variance. We’re going to start there.
The second thing to tackle is reconciliation. It’s unsettling for business leaders to get vastly different forecasts from their supply chain team, their finance team, their sales team, their customers and their suppliers. It’s human nature to want to choose ‘the best forecast’ – but that’s the absolute wrong thing to do. You need to find a way to reconcile all these forecasts. It’s actually not as hard as it sounds – but it is a different way of thinking and we can teach you.
Third are sources of error. You need a way to understand what is continuously throwing off your forecasts. Is it bad data? Is it a couple overly optimistic divisions? A lot of this can be fixed with process and visibility. We’ll help you out.
Once we fix these three things, you’ll be pleasantly surprised how straightforward it is to achieve dramatic improvements in forecast accuracy.
Loyalty Strategy & Management
It’s those unintended consequences that getcha.
Loyalty programs are supposed to increase customer loyalty. It sounds like common sense, but time after time we have clients who implemented a program that sounded good up front… but only ended up turning their most profitable customers into their lowest margin ones.
“We’ve created a Promotional Monster – we’ve trained our customer to only buy on promotion.”
Sound familiar? If so, we can help you begin the journey to get that promotional needle out of the vein.
If you’re thinking about going down the path of creating a loyalty program, then we definitely need to talk – we can help you steer clear of the unintended consequences so you amp up your customer loyalty… not create a horror movie by turning all your customers into promotion zombies.
Brands Our CX Team Has Climbed With
Saving a CPG manufacturer $100M every year using Descriptive and Predictive Analytics.