How a leading technology firm reduced attrition though a targeted action plan
17% reduction in deployment time of licenses
A leading technology firm had no clarity on the drivers that led customers to renew their cloud or on-premise subscriptions or to the purchase of additional products or services. This also contributed to the client being unable to identify at risk accounts ahead of time resulting in churn.
The LatentView Solution
Using correlation analysis, LatentView was able to identify the variables that impacted Subscription Purchases and Renewals. The variables that had the greatest impact on renewal were used to create scatter plots which led to the identification of accounts that were at risk to churn.
The After State
An action plan was created which included target accounts and the required actions by the account managers. In 100 accounts with over 50K licenses that were identified at a higher risk to churn a fast-track plan was put into place. In, in 35k accounts the Account managers were actioned to improve active usage for each account.
LatentView’s data driven analysis identified factors affecting subscription renewal leading to increased product activation and retention. The “Fast Track” strategy was executed and reduced the deployment time of licenses by 17% based on key findings.