Improving renewal rate by leveraging data and identifying feasible drivers

We deployed robust analytics solution to ascertain the sustainability and feasibility of the data feeds.

About Industry

The information technology industry is undergoing a rapid digital transformation. The information technology industry is undergoing a rapid digital transformation. As per Forbes, by 2020, 83% of the enterprise workloads will be in the cloud.

Considering the velocity and veracity of the data getting generated every second, the inception of the Big Data & Advanced Analytics has significantly enabled the high-end processing and analysis, which in turn, has radically improved the business processes. In an era of on-the-go capabilities, the market-disrupting technologies have a comparatively winning edge.

About Client

Our client is a San Francisco based IT firm. They are the leader in the area of network and application performance management solutions. The company offers smart services like digital performance and hardware monitoring platforms. They offer the metrics and drivers that help gain business insights.

The company has three thousand employees that work on multiple domains of WAN & WAN-optimization. The company has three thousand employees that work on multiple domains of WAN & WAN-optimization. They also offer a wide range of products that cater to infrastructure and cloud performance management.

The Business Challenges

Being a significant provider of the IT solution, our client faced few business challenges mentioned below: –

• The company lacked in identifying the most feasible renewal drivers from the available data.
• Identifying and analyzing the behavior pattern and indicators at an organizational level was not an easy task.
• The company lacked effective measures and initiatives that would improve the current renewal rate. The delay in performance improvement made an impact at the business level.
• The business was looking for better visibility to turn the technological ideologies into action-oriented initiatives.

Our Solution

• We implemented the Oracle Analytics Cloud Solution, built on Oracle Cloud Infrastructure.
• The data was migrated to the Oracle cloud. We made sure these data are well connected to the data integration tools.
• Through Oracle Analytics Cloud capabilities, we processed the available data sets for better visualization, analysis, and reporting.
• We trained the available data using AI-enabled forward-projection algorithms to gain more business-driven insights out of it.

Key Results

• We ensured an 8% increase in early renewals and a 16% increase in on-time renewals.
• The accuracy of the forecast on customer renewals improved by nearly 70%.
• We also saw a decrease of 12% in the delayed renewals.
• Easy modeling of the data was facilitated.