Datamine

When Datamine threw a hoedown! A perfect way to celebrate working together and the end of a busy year. We hope you have a restful break this summer (hay bales and cowboy hats, optional but encouraged)

Slider Modelling: How to detect pre-churn behavior in your customer base It is well-known that customer retention costs significantly less (that is, anywhere from five to 25 times less) than customer acquisition. At Datamine, we think of churn as a scale ranging from sliders and soft churn to hard churn. Let's say you own a bakery, in this case, a high-value customer might visit the bakery daily. But suddenly, the customer doesn’t show up, or the frequency of visits starts to slow down. What drives these behaviours, and can they be mitigated or changed using marketing? 🔄 Sliding If the bakery’s high-value customer starts only visiting once a week, this is an example of sliding. The behaviour is still regular but less frequent than it used to be. Any change in circumstances could have caused the slide – moving house, changing jobs, getting up earlier to make breakfast, going to the gym, or having a baby. The bakery hasn’t lost the customer, but this is the first step towards losing this customer to a competitor. 🔄 Soft Churn A soft churn customer is someone whose purchase frequency lessens over time in an irregular way. For example, high-value bakery customers stop coming daily and only visit the bakery sporadically. 🔄 Hard Churn Hard churn denotes a customer cutting ties with a business altogether. There are two ways somebody could hard churn: Involuntary: an involuntary churn can take place when somebody moves house and is no longer a customer. If we think about our bakery example, the same bakery would no longer be convenient for that customer. Voluntary: If your customer stops shopping with you and chooses a competitor, that is voluntary churn. For example, a new bakery might open up and your customer makes the switch. Hard-churn customers are tough, and sometimes impossible, to get back. With customer expectations constantly evolving, losing valuable customers to churn can deal a significant blow to your bottom line. To stay ahead of the curve, you need to get straight to the source – addressing pre-churn behaviours in your customers. Slider modelling uses statistics to detect pre-churn behaviours at a time when you can act to change customer behaviour. Your existing customer data usually provides enough information to set up a slider model. These models give you a view of your customers’ behaviour over time, enabling you to identify patterns and detect when your high-value customers leave as early as possible. At each stage, you can send out appropriate communications to capture the attention of those customers and encourage them to keep coming back. What are some marketing techniques you've found effective in saving your customers from the churn? 🔄 #Churn #CustomerBehaviour #CustomerInsights #DataDrivenDecisions

Discover how we helped one media company unlock the full potential of advanced analytics with a data strategy THE CHALLENGE One organisation recognised there were still plenty of opportunities to improve the way it used data, advanced analytics and AI to drive commercial success. However, with IT teams bogged down by BAU workloads and a backlog of enterprise systems projects, they approached us to help develop a data strategy. The goals? Discovering opportunities to use advanced analytics in a repeatable and scalable way, building internal capability and confidence, and leveraging AI to align with the company’s goals. THE SOLUTION Stakeholders - Engaging with the organisation’s senior leadership to agree on target outcomes Outcome-focused - Marrying commercial goals with internal capabilities and the company’s overarching business strategy Growth - Establishing key goals and assessing the potential for advanced analytics and AI integration Problem-solving - Identifying three ‘catalyst projects’ that would deliver immediate commercial value through Solution Design workshops Roadblocks - Understanding the root causes of previous barriers and frustrations to ensure that the data strategy – and resulting activities – aligned with real-world operational needs Future proofing - Collaborating with internal teams, to build the robust platforms, processes and governance structures to deliver a result and establish internal capabilities and processes so the business can ‘rinse and repeat’ future projects Expertise - Partnering with AugmentX, a data and analytics recruitment agency, to recruit specialised talent who bridged the gaps in the organisation’s internal teams - ensuring that it had the right expertise to drive analytics initiatives At Datamine, we understand the importance of collaboration, that's why when you work with us, we bring stakeholders through the process and make sure your internal technical teams feel supported during implementation so that you can see tangible outcomes. Get in touch today to see how we can find a solution for your business. #DataStrategy #InternalCapability #DataDrivenDecisions #Collaboration #BetterTogether

It's estimated that 67% of companies worldwide have already integrated AI into their board-approved strategies for financial reporting. Recently, we’ve noticed a growing curiosity around the subject of AI. Its widespread adoption has led many organisations to view it as essential - from marketing automation to predictive modelling. However, making sure AI guidelines are in place to move forward confidently but responsibly will also be front of mind when it comes to machine learning and AI. This is where your company can implement guardrails such as: 🤝 An ethics committee 👁️ Human oversight 📃 AI auditing 🔎 Assessing software for bias Will 2025 be the year that your company moves to streamline processes and reporting through AI? Speak to us to see how Datamine can help integrate AI into your business. #AI #DataDrivenDecisions #MarketingAutomation #PredictiveModelling

The Christmas elves have been busy at Datamine HQ. Can you guess the theme of our end of year celebrations? 🤠 #SummerCelebration #Christmas #Datamine

Is it working? With a solid baseline in place, you can eliminate the guesswork from your sales reports and confidently assess whether it was a successful day or not. Datamine's ‘Big Wave’ process uses historical situations and variables to create a baseline that can look at a specific situation – both to determine what should have happened, and how important different factors are to the result. This solution can be used to move the needle on your results in a number of different areas: 🌊 Marketing: Big Wave is particularly useful for large retailers that run many campaigns simultaneously and don’t know what the impact of each promotion actually is - being able to isolate the effects of different campaigns allows them to put money in the best place 🌊 Operations: Big Wave also helps organisations understand (from a logistics point of view) how different variable combinations can affect potential events, such as expected sales, the volume of calls or number of expected faults in a network 🌊 Market share: when used in conjunction with the lens of market share inf ormation, a Big Wave model is even more powerful – a decrease in sales might look negative at the outset, but if your market share is going up, there is less cause for panic #Retailers #SalesReports #DataDrivenDecisions

With seasonal opportunities like Black Friday and Boxing Day sales, it's estimated that 58% of global shoppers spend more during seasonal events. The increased revenue and added insight make it crucial to evaluate your post-season report: 🛒 Sales Analytics - 1/10 sales happen through a non-traditional channel, make sure you're focused on your customers' preferences ✉️ Email Analytics - Surveys show that consumers pay more attention to sales emails during holiday sales seasons 💳 Customer Analytics - Although 70% of online shopping carts are abandoned before the sale is complete, these carts can be a goldmine of customer insight helping you with future marketing By preparing now, you'll be able cut through the noise and know what really worked this season, how you can improve next time and build on your success. You can explore how to turn your summer sales report into data-driven decisions that will help future campaigns by exploring our Datafix blog or, why not sign up to our fortnightly Datafix newsletter to get insight delivered straight to your inbox! #SeasonalSalesInsights #DataDrivenDecisions #CustomerAnalytics #BoostYourSales #GoBeyondGuesswork

When it comes to executing a successful digital campaign, you need to make sure you've got the A-Team enlisted. (Especially when global online ad spend is expected to hit $600 billion this year alone.) A digital marketer can bring the creative strategy, and a data analyst has technical expertise - but can one work without the other? Without strategy how do you reach the right audience amongst the competition's noise? Yet, without insight how will you know if it's worked? What are your greatest learnings from a digital campaign? Let us know in the comments 👇 #DataDriven #AnalyticsExpert #CampaignSuccess #DataAnalyst #DigitalMarketer #DynamicDuo

"In every workshop, we create a collaborative space that turns complex problems into clear opportunities. It's incredibly rewarding to see our clients' reactions when they gain a deep understanding of their options and feel empowered to act." - Workshop facilitator, Rosie Addison Datamine’s strategy workshops are a pivotal part of our project development process. Through these workshops we work alongside our clients to unravel complex data challenges and uncover actionable insights. Workshops can create a clear pathway forward through collective understanding of the goals and key opportunities (which can save time and resources further down the track). If you're interested in taking the next step with Datamine, visit our website to learn more about the way we work. #DataStrategy #InsightfulWorkshops #EmpowerYourData #CreativeProblemSolving

Are you sharp, energetic, and curious? With the courage to take on challenges and the humility to keep learning? Apply for our Process Integrator role today. This role is all about ensuring smooth-running internal processes, identifying areas for improvement, and working closely with teams to document and implement process changes. You’ll collaborate with various stakeholders to analyse how we work, aiming to increase efficiency and quality across projects and operations, while building the foundation for growth and scalability. While you love a well-designed process, you know that processes exist to support people—not the other way around. To discover more: https://bit.ly/4foN4OJ #AucklandJobs #WeAreHiring #ApplyToday #ProcessIntegrator #JoinOurTeam