Many companies in the last few years have discovered the power of tiny changes. When you are dealing with a global population of buyers and millions of people, see your products every single day, changing a single small thing can have consequences in the millions of dollars.
The problem is that even though most companies realize this, they don’t have access to the right information to make good decisions. This means that billions of dollars are being lost because of a lack of the right data.
Some companies, on the other hand, are doing this marvelously well. Here are a few doing just that.
T-mobile was recently able to significantly decrease one of the biggest problems in their industry, that of customer turnover. Cell phone companies struggle to keep customers for more than a few years for a variety of reasons. The problem was discovering those reasons.
One of the biggest ways they did this was drop call analysis. They were able to contact customers that were starting to experience more dropped calls based on a current location and work with them to improve their plan quality before they dropped T-mobile as a provider.
Another interesting item they worked on was sentiment. There are multiple ways …