Case Study
The client, a fortune 500 financial services client, wanted to identify cross-sell opportunities for existing clients and direct sales reps on products to pitch for all clients.
Solution
- Identify variables used to describe accounts and segment them based on past purchases
- Developed algorithms to identify similar accounts and similar items
- Use supervised learning methods to formulate customer likelihood to purchase each item using information from similar accounts and items
- Create a simple tool that helps reps and managers identify top recommendations for each account that captures ~90% of cross sell possibilities
Value Addition
Identify top 10 items that are likely to be purchased by each account from a universe of more than 500 items with high accuracy
Interactive tool to help reps and managers customize product pitches for each account
Calculate scenario based cross sell opportunity for each account
Benchmark account performance amongst other similar accounts
→ Related Service Offering: Private Equity Analytics as a Service