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Research: KXEN Customers Achieve Faster Model Development
Apr 16, 2012 (Close-Up Media via COMTEX) --
KXEN, a provider of predictive analytics for business users, announced independent research results about its approach to marketing-enabling customers to deliver higher quality leads and achieve higher returns on marketing investments than other predictive analytics solutions.
In a release, the company said that findings from the Aberdeen Group research report "KXEN Customers Achieve Rapid Model Development and Precise Targeting", published in April 2012, and prepared by David White, Senior Research Analyst, Business Intelligence, indicate that KXEN's InfiniteInsight helps customers to build and refresh models faster, helping marketing be more productive and improve targeting effectiveness.
KXEN said that results include:
-KXEN enables more accurate targeting: KXEN customers are more likely to be able to design customized offers for market segments and individuals than their peers (40-50 percent more likely to have that capability). Aberdeen's data shows that organizations that were able to provide offers customized for individuals enjoyed a marketing response rate 75 percent higher than those that could not.
Percentage of respondents, n=112 KXEN customers All Marketing More Likely Provides offers customized to market segments 83 percent 57 percent 45.6 percent Provides offers customized to individuals 61 percent 41 percent 48.8 percent Source: Aberdeen Group, January,
-KXEN customers have better access to behavioral data, such as website clickstreams and call center logs: KXEN customers are almost 30 percent more likely to use behavioral data, such as website clickstreams and call center logs, than other marketing organizations; they are also almost 60 percent more likely to have this data integrated into a single source, which is essential to assembling analytical data used in building predictive models. According to Aberdeen's recent research into big data, 74 percent of survey respondents believed it was important to address clickstream data as part of their big data initiatives. KXEN customers are able to use this information as well as other behavioral data to help generate relevant marketing offers in real-time, or to feed into offline marketing campaigns, like direct mail outreach.
Percentage of respondents, n=112 KXEN customers All Marketing More Likely Access to customer behavior data 89 percent 69 percent 29.0 percent Access to all customer transactional data 86 percent 73 percent 17.8 percent All customer data integrated into single source 58 percent 37 percent 56.8 percent Source: Aberdeen Group, January,
-KXEN customers build and refresh models faster: KXEN customers can build and deploy predictive models in less than a third of the time than organizations using other predictive analytics and data mining solutions. Additionally, KXEN customers are able to refresh existing models up to 5x faster than other organizations, and report reducing the time to retrain a model from ten days to just two. KXEN's performance is underpinned by the degree of automated support offered for both data preparation and model building, which are the most time-intensive activities in predictive analytics model creation.
Time in days, n=112 KXEN customers All Marketing Difference Time to refresh model 2 10 5.0x faster Time to build and deploy 10 37 3.7x faster Source: Aberdeen Group, January,
-KXEN customers enjoy benefits which lead to improvements in marketing productivity: KXEN customers are also 67 percent more likely to find the output of predictive models easily integrated into existing applications and processes. By maintaining a repository for re-use of predictive models and incorporating campaign results back into models, marketers can reduce cycle time and more completely realize the potential of the models.
Percentage of respondents, n=112 KXEN customers All Marketing More Likely Incorporate campaign results back into predictive models 75 percent 40 percent 87.5 percent Repository to manage multiple predictive models 55 percent 34 percent 61.8 percent Output easily integrated into existing applications / processes 55 percent 33 percent 66.7 percent Source: Aberdeen Group, January,
-Predictive analytics improves marketing performance: Marketing organizations that use predictive analytics see 76 percent higher click-through rates and almost twice the sales lift of marketers that do not use this technology. KXEN customers can target their marketing more precisely than other marketers, build and refresh models more quickly, and tap into richer and more complete data sources - all of which are foundational components in which a successful predictive analytics program is built.
"The top two pressures facing marketers today are delivering high quality leads and demonstrating a return on investments," said David White, Senior Research Analyst, Business Intelligence, at Aberdeen Group. "Our research found that KXEN improves the speed of model development, the quality of targeting and the ability to tap into richer data, making a significant impact on marketing performance."
"At KXEN, we're committed to continuously improving our automated approach to predictive analytics and data mining on petabytes of big data," said John Ball, CEO of KXEN. "We're pleased to see that the Aberdeen Group's benchmark research validates the results our customers have realized using InfiniteInsight relative to their peers that are using other, less automated legacy approaches."
Full Aberdeen report:
kxen.com/res-offer/aberdeen2012
More information:
www.kxen.com
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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