KXEN, the automated model making software company added one more innovation by being one of the first major data mining and analytics vendors in releasing an analytics tool for Social Network Analysis
From the Press Release
Press release
San Francisco, Paris, London, March 24th, 2009
New Social Network Analysis Module Strengthens KXEN Automated Data Mining
Leverages connections between people to boost marketing campaign results and profitability
Sales, marketing and customer retention campaigns are set to become smarter, more effective and more profitable thanks to a new social network analysis module from data mining automation vendor KXEN. By exploiting the connections between customers of telcos, banks, retails and others, KXEN’s new KSN module has shown more than 15% lift improvement in campaign results.
KSN identifies the otherwise hidden links – call records or bank transfers for instance -between friends, families, co-workers and other communities and extracts significant social metrics, pinpointing who are the best connected and who plays the most important role in any group. In this way it reveals valuable new customer intelligence that – when added to existing customer informat…
KXEN, the automated model making software company added one more innovation by being one of the first major data mining and analytics vendors in releasing an analytics tool for Social Network Analysis
From the Press Release
Press release
San Francisco, Paris, London, March 24th, 2009
New Social Network Analysis Module Strengthens KXEN Automated Data Mining
Leverages connections between people to boost marketing campaign results and profitability
Sales, marketing and customer retention campaigns are set to become smarter, more effective and more profitable thanks to a new social network analysis module from data mining automation vendor KXEN. By exploiting the connections between customers of telcos, banks, retails and others, KXEN’s new KSN module has shown more than 15% lift improvement in campaign results.
KSN identifies the otherwise hidden links – call records or bank transfers for instance -between friends, families, co-workers and other communities and extracts significant social metrics, pinpointing who are the best connected and who plays the most important role in any group. In this way it reveals valuable new customer intelligence that – when added to existing customer information – can strengthen significantly user organizations’ customer acquisition, retention, cross-sell and up-sell campaigns.
Using KSN, companies can increase the accuracy and precision of their campaigns by leveraging the many more customer attributes that the module reveals, allowing them to better predict when customers may be about to churn to another provider, close an account, or buy a new product. A feature unique-to-KXEN allows the analysis of multiple networks and their evolution over time, exposing specific patterns of behaviors like rotational churn, fraud and identity theft.
“Traditional marketing relies on models based solely on customer-vendor interaction and assumes customers act independently of each other,” says KXEN’s founder and CEO Roger Haddad. “But the new social network technology in KSN recognizes that customers do indeed interact with each other, and exploits that knowledge to drive up the effectiveness and completeness of marketing and sales campaigns.”
KSN integrates with and enriches existing data mining environments or may be deployed entirely standalone. Exploiting viral marketing thinking, it eliminates the normally tedious and labor intensive aspects of social network analysis. The module provides as many social network maps as users want, recognizing that individuals may belong to many different networks across their business, family and social lives.
KSN, shipping from today, complements the existing KXEN Text Coder module which allows organizations to include plain text data into their analytics activities. Together the two modules, along with KXEN’s core software, are behind the company’s Data Fusion approach which combines structured and unstructured data from multiple sources to generate fast accurate results, thus maximizing organizations’ return on analytics investments.
Please click here to learn more about the KXEN Social Network Analysis module.
About KXEN
KXEN, The Data Mining Automation Company™ delivers next-generation Customer Lifecycle Analytics to enterprises that depend on analytics as a competitive advantage. KXEN’s Data Mining Automation Solution drives significant improvements in customer acquisition, retention, cross-sell and risk applications. Its solution integrates predictive analytics into strategic business processes, allowing customers to drive greater value into their business. Find out more by visiting www.kxen.com.
I found the statement by the CEO quite interesting –
“Traditional marketing relies on models based solely on customer-vendor interaction and assumes customers act independently of each other,” says KXEN’s founder and CEO Roger Haddad. “But the new social network technology in KSN recognizes that customers do indeed interact with each other, and exploits that knowledge to drive up the effectiveness and completeness of marketing and sales campaigns.”
I wonder if other analytics vendors are creating /releasing products like these.
