Read our case studies below and discover how we’ve made a difference to all sorts of businesses.
CASE STUDY 1 STICKY
A large retail bank uses our AI customer retention and engagement software ‘Sticky’ to retain and future proof their customer base.
A large Australian retail bank.
The bank was losing 8% of their home loan portfolio each year through churn. This meant billions of dollars-worth of loans were heading out the door. They knew they were losing customers, but didn’t know who was leaving or have the ability to understand why customers were unhappy and looking to leave. As a result, they couldn’t pro-actively intervene with timely conversations to keep their customers.
The bank engaged Elula to provide them with ‘Sticky’ – our artificial intelligence software product. It works by ranking customers from most sticky (most likely to stay), through to least sticky (most likely to leave). It also uses Explainable AI to provide the reasons behind these customer rankings. This meant the bank could take targeted interventions at an individual level and enable ongoing personalised conversations – at scale.
All of this data was made easily accessible through a data feed/API into the bank’s CRM (a purpose built user-interface is also available) to support call centre conversations and provide valuable insights. It allowed the bank to engage with the right message at the right time, on an individual level.
Sticky accurately predicted 47% of home loan customers that were at risk of churn. But Sticky’s real value lies within its explainer module, providing the all-important ‘why’.
This new understanding allows the bank to retain many of their customers predicted to leave, by making targeted interventions at the right time. Each loan saved delivers an NPAT uplift of 0.88% per home loan saved, significantly improving the bank’s profits. Sticky also builds stronger and richer customer experiences. Call centre operators are provided with the right data to enable personalised conversations about the things that matter most to customers. In turn, Sticky also continues to create an uplift in customer satisfaction across the board.
CASE STUDY 2 ELASTIC
A transport company harnesses the power of ‘Elastic’ Dynamic Pricing software to provide the most accurate forecast of daily volume and revenue projection.
A large transport company.
The transport company was in need of a way to accurately forecast daily volumes to underpin the financial forecasts presented to the board. In addition, they needed a way to schedule operational activities. Their current forecasting approach was either too long range (multi-year forecasts) and too high level, or was calculated manually by a single staff member who held all the knowledge. This key person risk needed to be eliminated. The work was also inefficient, using Excel and manually adjusted to account for changes in the environment, weather, events, public and school holidays.
The transport company engaged Elula to implement a complete solution, utilising the forecasting module from ‘Elastic’ to forecast daily volumes for the next 2 months. Multiple forecasting models were put into action to generate the most accurate forecast possible. The models learnt historical patterns to automatically take account of things like the environment, seasonality, events, public and school holidays.
Elula’s forecasts for the transport company were highly accurate and within 97% of actual daily volumes. In addition, more granular forecasts for reporting and business operations were achieved. Forecasts were automatically translated into revenue projections that the leadership team could now depend on.
CASE STUDY 3 DASHBOARDS
A payments company embraces Elula’s Dashboards to make their data clearer to understand and act on.
A financial services company.
The financial services company had access to a lot of data. The problem was, it came with no insights or clear understanding of how they were performing as a business. Where they were doing well and where they needed make improvements was simply a mystery. Reports were still prepared manually, making them time consuming and inefficient. Their data needed to be more engaging and made easier for the team to follow, so they could answer key questions. The company was missing the ‘why’ to drive more action.
The financial services company engaged Elula to transform their existing reports and create new, intuitive dashboards. Elula’s solution was to remove all the hassle, by sending regular data feeds and logging into Elula’s web portal. The management team were now able to clearly identify which teams were performing and which were not.
Elula’s streamlining of report preparation saved the payments company up to a week of valuable time each month. What was a manual process became automated, insightful and far more engaging. The company was now able to have meaningful conversations, focused on the most valuable opportunities. And the entire team got excited about data.