Identifying Customers with the Highest Profitability Potential
Description
Red Hat, the world's leading provider of enterprise open-source solutions, had gathered a huge dataset related to their sales strategies, customer communication, and customer profiles. Our task was to use all this data to develop an algorithm for customer segmentation, to analyze and identify the customers with the highest profitability potential and to determine effective methods to communicate with them.
Challenge
Despite having a large pool of potential customers showing interest in its services, Red Hat's profits primarily came from a relatively small number of loyal customers. Our challenge was to help them create a forecasting system that could identify customers with the highest profitability potential through Big Data analysis.
Solution
After conducting extensive data analysis, we developed criteria to identify Red Hat’s high-profile clients and determine the most effective communication strategies for them. Our forecasting system has helped the company focus on increasing revenue by enabling their sales team to prioritize high-profitability clients from the initial interaction.
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