Our news and views relating to Data Analytics, Big Data, Machine Learning, and the world of Credit.
South African credit providers are heavily reliant on debit orders as a payment channel. According to the Payments Association of SA (PASA), around 48 million debit orders get processed monthly across all industries within the borders of this country. Of the two broad types of debit orders that we have, 33.5 million are standard debit orders, and 14.5 million are early debit orders. The early debit orders are further broken down into two types – being Non-Authenticated Early Debit Orders (NAEDO) and Authenticated Early Debit Orders (AEDO), with only around 1 million of the 14.5 million early debits being AEDO’s.
Machine learning has the power to transform the world, and it’s not just being used to power chatbots or to recommend your Netflix content. There are many amazing machine learning applications that improves our everyday live, but also makes the world a magical place.
The concept of artificial intelligence (AI) has been around for a while, but with the more recent rise of both machine learning (ML) and deep learning, it’s still a buzzword. These three are often used interchangeably, and thought of as the same thing. However, there is a significant difference between the three, which is valuable to know, especially when using the terms in conversation with people you want to impress!
Staff motivation levels are an important factor in every business, but even more so in a client or prospect facing environment such as a call centre. If your call centre agents are motivated, you can expect them to remain an employee for a longer period of time, reducing staff turnover. This not only saves you a lot of resources for recruiting, but also for training.
Machine learning is a hot topic. Although we are interested in the inner workings of machine learning and how to improve our models, we are as interested in how to apply machine learning to improve business’ revenue and ROI. The positive impact on ROI through the application of machine learning techniques is well known to us. Based on our experiences, here are the most influential business applications of machine learning. These are the areas where we would recommend you start introducing ML in your consumer-focused business.
Can you test a different approach? Is it better to use one or multiple channels? Is this approach really successful? My team and I frequently get asked these and other questions on a data-driven approach to acquisition lead selection. In this blog, I’ll answer some of the most frequent questions.
There are many benefits to using a data-driven approach to lead selection, including higher conversion rates and improved ROI. In this second blog of our mini-series on using advanced data analytics in your acquisition strategy, we’ll discuss the data that will form the basis of your approach.
Every marketer is faced with a common challenge: improving conversion rates of your marketing campaigns whilst optimising marketing spend. This sounds straightforward (or so every non-marketer thinks), but is actually much easier said than done, at least when using traditional approaches.