Dubbed Genalytics Prospect, the web-based application combines Genalytics’ unique genetic algorithms and advanced modeling and profiling techniques for complex data segmentation and analysis.
Many regard the prospecting function of the market campaign development cycle to be more of an art than an exact science.
For example, marketing managers will often combine hard quantitative facts like customer demographics with their own qualitative assessments based on business know how to segment customers and build-up a list of targeted prospects for a direct marketing campaign.
Officials at Newburyport, Massachusetts-based Genalytics, which specializes in risk assessment software for credit card issuers, insurers and mortgage underwriters, claim the Prospect modeling system will take much to the guesswork out of the equation.
Prospect works with other Genalytics products: Knowledge Extract for text mining, DB Extract for data extraction and Model which provides advanced modeling component.
Genalytics also offers complementary outsourced analytic services for customer targeting. Included as part of Prospect is an ability for list providers to integrate advanced customer profiling and scoring models into the list selection process. For instance, every marketing campaign comes with a custom model that uncovers which variables are predictive of success. These variables are then applied to the list selection process.
Genalytics says its affordable brand of sophisticated analytics and outsourced services make customer targeting a more practical proposition for small to medium sized firms.
According to Ray Kingman, chief executive of Genalytics, these firms can now engage in the same level of advanced predictive analysis that most large enterprises engage in when executing large direct campaigns. The internet and low cost of storage has reduced the barriers, Kingman said. With Genalytics Prospect [smaller companies] can offer a private-labeled web based portal that provides automated customer profiling, modeling and scoring and list selection.
Prospect is being made available through Genalytics’ reseller channels and features an innovative pricing model where, rather than forcing customers to pay a fixed per model or analytic project fee, analytics scoring is included in the cost.
