Response analytics is a powerful way to understand the cause-and-effect relationships driving your business. If you can understand how the sales “respond” to different events (e.g. changing the call frequency), then we are in a good position to “optimize” the event to maximize the sales and contribution.
Response analytics usually starts out analyzing historical data to find statistically significant relationships. A mistake that is often made is to simply use this historical analysis to make future resource allocation decisions. There are two problems with this approach: it often runs into “black-box” syndrome, where the management loses confidence in the analysis because they are unsure of how it works; and secondly the historical analysis, no matter how good, is measuring historical relationship which may change in the future. To remedy this, Cozmix has developed a uniquely collaborative approach, leveraging Response Analytics as a starting point for future relationships. This keeps everyone involved, brings them along every stage of the journey, and ensures that future events are factored in to any resource allocation decisions.
Call Cozmix to get a demonstration of how Response Analytics can be used to address your resource allocation challenges.