Data and Analytics
The key to what customers want
According to a Gartner report, by 2022, 90% of corporate strategies will explicitly mention information as a critical enterprise asset and analytics as an essential competency. Analytics is a mechanism for extracting meaningful insights from an organization’s data for better business decision making.
With the complexity of market segments, varied customer needs, and channel preferences, businesses today need to have a holistic understanding of their customers in order to service them better. Data is the key to unlocking what customers want. Analysis of past data leads to insights in the present that will eventually guide actions in the future. This will provide for incremental growth in revenue, reduction in costs, increase in market share, and better customer service.
At HGS Digital, we have a strong and dedicated global data science and analytics practice with the right people, processes, and technology know-how to help transform your customer experiences. Our pre-built assets help accelerate your data transformation journey at lower cost and faster go-to-market. HGS’s core competency of customer service engagement lays a strong foundation for our data and analytics initiatives and empowers companies to move away from solely experience-based change to data-backed decisions.
To innovate or stick with what you know
C-level executives will have to balance the status quo with new ways to innovate, particularly in sensitive areas of compliance and data security. Innovations driven by insights will change the status quo.
The focus of data-driven insights comes down to the specific business problems faced and how to solve them. These problems are unique to each industry and are of significant concern to C-level executives.
Within the telecom industry, companies often face issues of customers frequently moving between service providers based on the offers and benefits offered at the time. Data and analytics can help address these challenges:
- Mapping the ever-changing needs of local stores, customers, and products
- Churn management of valuable and HNI customers
- Payment and billing-related issues leading to revenue losses
- Network mapping and better network utilization
- Customer experience metrics and reporting
Given the growth of technology in the healthcare industry, it stands to gain a lot from customer insights and data management. Data and analytics can yield valuable insights to address several of these challenges:
- Risk management and cost optimization
- Ensuring a healthy revenue cycle by studying customers’ propensity-to-pay
- Reduction in fraud, waste and abuse of claims
- Provider scorecard for patient readmissions rate
Retail as an industry has been one of the early adopters of data and analytics. With more people switching to online shopping, retailers vie for more wallet space through upselling and cross-selling methods. Hyper-personalizing online customer experiences using data will become the new norm.
The right use of data science expertise can help retailers:
- Increase customer loyalty and reduce customer churn through hyper-personalization
- Predict customer behavior across digital and non-digital channels
- Improve operational efficiency through warehouse and store inventory, and personnel planning
- Better supply chain management by understanding seasonality and event impacts
- Increase customers’ share of wallet
The travel and hospitality segment is also becoming one of the fastest consumers of data and analytics. Data and analytics can provide insights in several critical areas:
- Impact of disasters on travel patterns and recovery
- Customer demands and seasonality
- Service bundling and price discounting
- Loyalty and customer lifetime value
The banking industry has to trade-off risk with opportunity so that they can manage risk, and at the same time, make the right investments to yield high returns. This analysis of prospective and existing customers is essential to maintaining a healthy financial organization. As the banking industry seeks to maintain business and operational resilience, data analytics can provide much needed answers to optimize the overall business in cost and revenue management, loan performances, distressed assets and risk.
Here are a few challenges faced in this industry:
- Collection of funds from debtors
- New products or categories based on consumer demand and gap in supply
- Cost of acquiring and retaining a new customer
- Predictions on potential delinquencies and risk analysis
Data and analytics services
HGS brings extensive data and analytics expertise along with in-depth domain proficiency to help our customers transform their business using data insights. We provide strategic business and technology consulting along with expertise to implement end-to-end data and analytics solutions that meet customers’ needs.
Advance your digital transformation initiatives with data-driven decision-making
Data engineering and business intelligence
Set up a robust, future proof data foundation to deliver deep insights
Predictive and cognitive analytics
Predict and steer your business through deeper analysis using data sciences and AI/ML
Consumer and business analytics
Gain 360-degree customer insights and better business intelligence across departments
Determine the ROI of marketing initiatives using data
Why HGS Digital?
Our creative team of strategic thinkers, solution architects, user-centric designers, analysts, security experts, and software engineers can design and build a solution suited to your industry, organization, goals, and budget.
Solid experience in data-driven business strategy
Our team has helped customers develop and execute a multi-year, data-driven business vision and strategy. As part of this engagement, our team will not only focus on technical data strategy, but more importantly, how the technical data strategy will support business goals.
We've proven our capability across industries such as insurance, healthcare, retail, CPG and more; and pride ourselves in providing support that's custom-made for each domain.
Strong experience in data engineering
Our team has significant experience in developing data infrastructure for varying business needs, including structured/unstructured data, batch/real-time data feeds, on-prem/cloud, and more.
Advanced data sciences expertise
Our team of AI, ML, and cognitive experts can provide highly advanced data solutions that can bring valuable business insights.
Our expertise in cross-functional analytics
We have executed analytics engagements within organizations that support various functional requirements. These insights have helped businesses become more data-savvy and agile with their decision making. Our team members bring functional expertise as well as data expertise to enable customers to execute complex data engagements.
- Web analytics
- Multi-channel analytics
- Attribution modeling
- Online behavioral analytics
- Social media analytics, etc.
- Customer 360 view
- Customer Lifetime Value (CLTV)
- Churn analysis
- Channel analysis
- Store traffic analytics, etc.
- Flash reports / visualizations
- Sales & margin analytics
- Weather impact on sales/traffic
- Fraud analytics
- Risk & failure analytics, etc.
- Call center analytics
- Quality analytics
- Capacity utilization
- Pricing analytics
- Product analytics, etc.
- Attrition analytics
- Hiring / onboarding analytics
- Workforce analytics
- Performance analytics, etc.
Related case studies
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Let your data speak for you. Our team of data scientists, domain experts, and data engineers is eager to partner with you to change the face of data and analytics. Just fill in the details below and allow us to show you the HGS impact.