Every business wants to cut costs and grow revenues. Data science can provide a powerful tool to help achieve these goals—but if you’re not an expert, it can be tough to know where to get started.
Revelwood, an IBM Gold Business Partner, helps clients to put their data to best use, combining data science solutions from IBM with decades of experience to improve business outcomes.
300% liftin revenues for one client by identifying new cross- and up-sell opportunities
2x highersales achieved by insurance agents using customer analytics from Revelwood
6-9 monthstypical payback for clients deploying IBM data science solutions
Business challenge story
Solving big business challenges
How can we put the right products in front of customers at the right time? How do we attract new customers and inspire existing ones to increase their spend? How can we find out who our most valuable customers are, and make sure we retain them? These are the kinds of questions that keep many businesses up at night.
Justin Croft, Former Director of Data Science at Revelwood, elaborates: “Every company aims to increase sales and revenues. Doing so in today’s competitive digital marketplace requires a more scientific and targeted approach. By analyzing and acting on customer data, business can gain a better understanding of the unique needs and preferences of each customer. This enables them to build more personalized, rewarding, automated and effective customer engagement strategies based on insight into which products will sell best in each segment.”
While data science offers a powerful tool for improving business outcomes, knowing where to get started can be a tough challenge.
Croft continues: “Many clients come to us because they are concerned about data. They might have data that is siloed, inconsistent, inaccurate or too complex to utilize effectively. Similarly, we often see clients who want to start using analytics and data science solutions, but are just overwhelmed by the complexity of the technology and the variety of offerings on the market.”
Harnessing the power of analytics
Revelwood helps organizations to put their data to best use by combining more than 20 years of technology and industry experience with the power of data science, machine learning and cognitive technologies.
“What makes Revelwood different is that we speak business first,” says Croft. “We bring the industry-specific experience needed to understand each client’s unique situation and challenges, and marry that with our team’s deep technical expertise. This allows us to deliver solutions that have a truly meaningful impact on our clients’ operations.”
With core focus areas including data science, financial performance management and business intelligence, Revelwood helps clients to expertly deploy IBM software and embed the technology into their business processes. The company also uses IBM technology as the foundation for a number of proprietary solutions, which bring powerful data science and advanced analytics capabilities within easy reach of organizations.
One such offering is BULLSEYE, a cloud-based machine-learning platform for marketers that includes dozens of predictive models and powerful data visualization and reporting tools. Built on IBM® Watson® Studio (previously known as IBM Data Science Experience) and IBM SPSS® Modeler solutions, BULLSEYE provides marketers with fast, accurate answers to questions on customer retention, propensity to purchase, engagement, profitability and more.
Croft comments: “We partner with IBM because they make excellent technology and are committed to helping us make the most effective use of that technology. Our clients are looking for solutions that deliver real business results, and IBM solutions definitely meet that requirement.
“Take IBM SPSS and IBM Watson Studio, which form the backbone of many of our offerings. We find that the IBM software really plays to the strengths of different people, whether they’re statisticians, line-of-business users, programmers or data scientists. It gives businesses a platform for bringing together all these different perspectives and skill sets, and using them to improve operational performance and customer outcomes.”
Transforming data into real results
Revelwood has already helped hundreds of clients across a range of industries achieve impressive results. By empowering businesses with deeper insight into their customers and operations, Revelwood’s clients are deploying their newfound knowledge to drive sales and revenues, and boost retention.
For instance, Revelwood worked with a wholesaler to build a set of machine learning and predictive models in SPSS Modeler, using them to uncover sales trends in hundreds of thousands of products and tens of thousands of stock-keeping units (SKUs).
Croft adds: “The wholesaler was able to use the advanced analytics and machine learning system to identify not only the best product to put in front of each customer, but also the product that was predicated to be the most profitable. In this way, they were able to drive greater personalization and customer engagement, as well as higher gross margins and revenue. The client achieved payback on their investment in just 14 days, coupled with a 300 percent lift in revenues associated with campaigns driven by our technology.”
In another example, Revelwood helped a large US insurance provider to create a 360-degree view of customer preferences based on their interactions across multiple channels, and then build predictive models based on a complete picture of each customer. This enabled insurance agents to identify which customers were most interested in certain products and target their sales outreach accordingly. The agents who used this customer analytics solution made twice as many sales compared to other agents.
What’s more, with newfound visibility into customer preferences and behaviors, the insurer can now reach out to customers with relevant communications around policies, renewals and offers, boosting incremental revenues.
“With data science and advanced analytics, we are helping clients to unlock the data in their systems and transform it into the actionable insights that help people make better decisions and drive top-line growth,” states Croft. “The results speak for themselves too—our clients typically see a return on investment in IBM software in just six to nine months.”
Always looking ahead, Revelwood is constantly working to bring cutting-edge technology within easy reach of its clients, empowering them to put their data to work in new ways and unlock even better business outcomes.
“At Revelwood, we are all about making it easy for customers to work with data and analytics—and IBM provides us with the foundation we need to deliver high-quality services,” concludes Croft. “Technology is evolving incredibly quickly, and thanks to our partnership with IBM, we can help our business and our clients to stay on the leading edge. We’re excited for what the future has in store, and we look forward to making the most of it with IBM.”
Revelwood provides analytics and machine learning solutions to Fortune 1000 and mid-market companies across every industry. An IBM Gold Business Partner, Revelwood has more than 20 years’ experience harnessing IBM Analytics technologies to help clients optimize operational performance, customer outcomes and financial results.
Take the next step
IBM offers one of the world's deepest and broadest data science platforms that allows teams to explore, build and put their data science practice into production faster. For more information about how IBM’s data science solutions help transform industries and professions with data, visit ibm.com/data-science. Follow us on Twitter at @IBMDataScience, on our blog at ibmbigdatahub.com and join the conversation #IBMDataScience.