This is our story of co-creating a data science center of excellence to transform the customer engagement strategy for a leading US retailer.
As we know…
Since the start of the pandemic, online grocery shopping has seen exponential growth. New omni-channel models such as Buy Online, Pick Up in Store (BOPIS) have become increasingly popular. This has compelled retailers in the US to adopt innovative business models and tap new opportunities. It is more important than ever for enterprises to make informed and data-driven decisions to increase profitability through improved engagement, conversion and customer satisfaction.
The challenge for the client was…
To significantly increase e-commerce profitability by retaining customers with personalized and timely offers and increasing awareness of all other categories based on past purchases and purchasing cycles.
As the co-creation partner…
We leveraged Analytics Center of Excellence (CoE), a core pillar of WNS Analytics (our data, analytics and AI practice), to set up a Data Science CoE. This centralized unit facilitated data-driven business solutions across enterprise operations and customer strategy to drive the following objectives:
-
Promote the adoption of data science: Build and integrate machine learning / artificial intelligence models in the user’s decision flow
-
Support experimentation: Help design experiments, manage execution, conduct impact analysis and provide recommendations for follow-on analysis or experiments
-
Track and analyze: Capture online customer behavior by tracking logs such as views, clicks and the click-through rate; enrich data by cleaning and scrubbing, and ready it for business use
-
Extract data-driven insights: Extract data and insights, create dashboards and automate reports (recurring / one-time) on business request
The client achieved significant analytical milestones…
-
Estimated the impact of de-listing and re-listing of products in the product catalog on gross margin, profitability and customer engagement
-
Predicted the next best product that a customer is most likely to engage with or purchase – based on shopping, browsing and search behavior
-
Improved effectiveness of marketing ‘widgets’ through a data-driven selection
-
Designed and developed a tagging and tracking process to:
-
Track clicks on Call to Action (CTA), preferences
-
Track all errors experienced by the customer
-
Track customers who complete the onboarding process
-
Track all customer-level identifiers to stitch e-commerce and clickstream events
The CoE was instrumental in significantly enhancing the accuracy of the client’s decision-making. Specifically, benefits from data-based insights included:
-
Significant uplift in sales and profitability
-
Improved customer awareness vis-a-vis product categories, resulting in deeper customer engagement and repeat purchase
About WNS Analytics:
WNS is a digital-led business transformation and services company with 60,513 professionals across 64 delivery centers worldwide, including facilities in 13 countries. WNS combines deep industry knowledge with technology, analytics and process expertise to co-create innovative, digitally led transformational solutions with over 600 clients across various industries. WNS Analytics is the Data, Analytics and AI practice of WNS that enables business decision intelligence for clients by combining Artificial Intelligence (AI) and Human Intelligence (HI). We cater to 250+ global companies including Fortune 100 and Fortune Global 500 organizations. WNS Analytics is a robust practice of 6,500+ Domain, Data, Analytics and AI experts with proprietary AI-led assets and innovative technologies. We enable businesses to make transformative decisions backed by data-led intelligence, ensuring differentiated outcomes. WNS Analytics is an end-to-end Consulting-to-Implementation partner delivering business goals for clients with an integrated ecosystem of co-creation labs, strategic partnerships and outcomes-based engagement models.
To know more, visit https://www.wns.com/capabilities/analytics