The common theme in eLumindata’s products is using advanced analytic techniques to draw more insight from data than is possible using traditional approaches. The company has invested several million dollars in developing a core underlying technology that accelerates analysis by automating work that typically needs to be done manually, all driven by a deep understanding of the types of challenges that go into effective analytic work and the many types of complications that analysts typically encounter.
Currently, eLumindata is offering three products that achieve the goal of empowering clients by uncovering valuable insights that tend to remain hidden within data.
optIQ®, eLumindata’s unique segmentation analysis tool, lets analysts choose pre-defined segmentations and metrics or define their own on the fly. optIQ® organizes the data automatically in seconds, unlike older tools. This empowers people to quickly understand the differences between segments in important ways, like how they respond to particular messages or offers. Equally as important, it provides the answers without requiring the cumbersome and expensive data wrangling that typically is required before data can be analyzed in business intelligence tools, statistics packages or spreadsheets.
Some of the situations where optIQ® can help:
Ensuring the success of new product launches by enabling agile, quick adjustments to optimize marketing efforts.
Optimizing ROI of a multi-channel marketing campaign by identifying which segments are responsive to each program, service or offer.
Advanced Segmentation Analysis
Many companies use simple measures to categorize their customers. For example, a grocery firm may group customers based on their average aggregate purchases or zip code. But this doesn’t help determine which segments will respond to promotion for a new item. But if they can look at order consistency, they may distinguish customers more likely to respond from others who are less likely. optIQ makes this type of analysis quick, easy and inexpensive.
Many teams are unable to get the depth of insights they want when tracking their products. optIQ Tracker provides unique views that help change the question from ‘Is what we’re doing working?’ to ‘Where is what we’re doing working?’ and ‘What can we learn from all available data to help us know what approaches work best in each situation?’
optIQ Tracker brings the power of third generation segmentation to enable teams to get more insights than from traditional tools when tracking the launch of a product, identifying the best actions to take in a particular situation or drilling down to an individual customer or patient to view progress using an integrated set of data.
Based on a technique developed by an MIT professor, eResponder goes beyond gauging overall response. It also measures how effective specific programs and messages are with individual customers. This creates tremendous opportunities to use the resulting insight to optimize ROI.
eResponder can be used in markets with at least 30 months of marketing and usage data, and typically is effective at identifying optimal promotional approaches for about 70% of customers. Use of eResponder has led to decisions with impact measured in the tens of millions of dollars.
eResponder™ is a trademark of enginologi, Inc., a partner of eLumindata.