Veris BI is a suite of Business Intelligence software products developed specifically for the telecom industry. It provides operational and strategic insights, and is built to support Big Data initiatives. This Telecom Business Intelligence suite processes disparate structured and unstructured data, refines it and runs sophisticated analysis to produce actionable intelligence. The insights gained from Veris BI enable telecom operators to improve customer experience, boost revenue and cut costs.
Veris BI delivers competitive advantage by generating profound insights about customer behavior and product performance. With its ability to process vast amounts of structured and unstructured ‘Big Data’ (currently analyzing 7 petabytes of data worldwide each day), Veris BI provides a predictive capability which generates actionable intelligence in real-time.
Veris BI has 5 core modules:
Performance Management: delivers strategic insights for executives. Its dashboard gives a summarized, high level view of the key performance indicators of the operation (with over 600 best-practice KPIs available out-of-the-box), enabling operators to track performance and continuously fine-tune strategy and processes.
Customer Segmentation: enables segmentation based on profiles generated using deep insights about customer behaviors and preferences, thereby improving the effectiveness of marketing campaigns.
Products & Offers Performance Optimization: tracks and analyzes all commercially available products and offers, rating their performance based on pre-defined KPIs. It enables telecom operators to adjust pricing and packaging to turn low performing products into high performing ones.
Price Plan Simulation: predicts consumption or uptake of products based on a statistical analysis of historical records of customer behavior. Its advanced simulation capabilities provide a view of margin in various scenarios, and enable well-informed price tuning even before launching new products.
Campaign Management & Analytics: provides an end-to-end capability for managing marketing campaigns. It flags marketing opportunities by identifying the right products for the right customers at the precise moment when they are most likely to buy. It offers advanced capabilities to not only design and develop highly personalized plans and offerings, but also to sell them effectively across all channels, and to monitor their performance.
Business Intelligence solutions come in various forms and flavors, some generic and some specific.
Veris BI Targeted Solutions address very specific business needs:
Unprofitable Renewals Management provides a better view of subscribers who are likely to deliver a negative lifetime value, which allows operators to be smart about the offers they make at the time of renewals. Using a patented ‘Finger Mark’ technique to identify subscribers with great accuracy, the solution is saving one operator in China over $10 million per annum. The solution also allows analysis of dealers' performance on the grounds of profit contribution.
Veris BI’s Churn Prediction solution provides predictive capability which enables operators to be proactive in their efforts to stop valuable customers from churning away to competitors. The system accurately identities customers who are likely to churn, enabling the marketing and customer retention teams to take appropriate and timely action. The solution has proven accuracy rates as high as 91% for a South East Asian mobile operator with a reputation for innovative marketing.