The Data Analytics Blog

Our news and views relating to Data Analytics, Big Data, Machine Learning, and the world of Credit.

How Machine Learning Can Improve Direct Marketing Results

With direct marketing, you likely have a benchmark success rate from previous similar campaigns that you base your goals on, and you try to optimise it through various strategies, whether by trying to offer the best deals or by using behavioural tactics.

How Machine Learning Is Related To Data Mining

Data mining is another term that is often confused with machine learning (ML). Here’s an easy explanation of the two terms, as well as the relationship between the two.

The Three Big Impact Debt Collection Tools To Implement In 2018

Any tool that can optimise your collections strategy and improve efficiencies in your operation, is sure to make an impact on your collected yields. In our years helping collections operations to optimise and improve their collection strategies, we’ve found that data-driven debt collection tools offer the optimal solution to optimise and improve your recovery yields and increase your business revenue.

Implement Collection Strategy Best Practice With Debtor Segmentation

We have written a lot on ways to optimise your collection, but the simplest and most effective way is still to segment your debtors based on propensity to pay. Debtor segmentation is a best practice that every serious collections operation needs to utilise.

How Coaching Bots Can Increase Your Debt Collection Call Centre Yields

Machine learning and advanced data analytic techniques are often used in combination with behavioural sciences to develop coaching bots. Coaching bots for call centre agents is a collections solution that guide and support agents through calls in real-time, offers them easy access to information and motivates and inspires high performance. This can translate directly to increased collection yields.

What Is A Pro-Active Debt Collection Approach?

The management of debtors and account payments is often a laborious and reactive process that includes following up with debtors who are in default and don’t want to talk to you. Implementing a debt collections approach that is pro-active, could improve efficiencies and result in reduced amount of accounts rolling into delinquency.

A Machine Learning Tool Without The Infrastructure Costs: An Overview Of Genius

With all the possibilities it presents, machine learning is on many a company’s to-do list for 2018. You could determine the optimal time and number to reach prospects and debtors on, improve cross-sell and upsell rates by offering the perfect next product at the perfect time or you can know when to give which customer a discount or special offer to prevent churn. But the costs of implementation of a machine learning tool in just one business area is high.

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