PropensitySCORING® is your tool to accurately predict outcomes.
PropensitySCORING is an advanced module of Infogix Assure® which combines business data with advanced analytics results to predict future business outcomes. With Propensity scoring, you can more effectively plan marketing campaigns, increase revenue per customer, stop fraudulent activity, prioritize debt collections, and improve operational processes.
Expanding Data Sets
While traditional advanced analytics work utilize limited data sets to segment populations based upon the likelihood that they will take a specific action, Propensity scoring incorporates far more data than other approaches. The technique yields significantly better outcomes in predicting the propensity of a particular outcome. The challenge is to determine the right data sets to combine and to create an analytical model to find the cause and affect relationships to create an accurate prediction. Propensity scoring integrates historical data owned by the company, such as purchases, renewals and claims history and combines that with 3rd party data to create a score that rank-orders every customer for any action that is of interest: paying, Acquisition, renewing, churning, etc.
The most sophisticated analytics use machine-generated functions to overcome some of the limitations of other modeling techniques. Infogix found genetic algorithms to be a superior method for complex predictive modeling problems. Infogix has a large library of models which are easily retrained for specific populations and problem details. New or specific models can be created using the same technology and drawing on experience across multiple industries. When paired with traditional regression models, or as a standalone analysis, PropensitySCORING provides a proven additional lift on the accuracy of scores generated.
Since data is not static, the propensity score is operationalized utilizing Infogix Assure so that as information is updated the score is refined, which can help provide insights such as:
- Propensity to introduce risk and fraud
- Propensity to buy new/different products/plan or expand existing services, upsell
- Propensity to stay or leave, churn
- Propensity to pay for services or clear bad debt
- Propensity for case or call volume increase
Used in conjunction with the Infogix Enterprise Data Analysis Platform, PropensitySCORING can be operationalized into day to day environments, so as new information becomes available, scores are dynamically updated to provide you real-time, actionable results, thus producing immediate business value and ROI.
This allows you to prioritize higher weighted scores, and through Infogix Assure®, Infogix ER®, and Infogix Perceive®, you can automate follow on activities, such as alerting another process, creating and routing cases, or providing management dashboards to enable end-to-end analysis.