Santa Monica, CA (PRWEB) June 24, 2013
Questions such as “Is big data real?” and “How can it be used to improve customer retention and loyalty?” were just some of the questions that Retention Science co-founder Jerry Jao answered when he spoke at Silicon Beach Fest, LA’s original and largest startup tech entertainment festival.
As one of the event’s panel experts, Jao shed light on the technology behind customer retention and how companies can use big data to generate repeat business, reduce churn, and maximize customer lifetime value.
He also addressed the issue of whether big data is real or if it’s just another marketing buzzword. According to the co-founder, “Big data simply means business intelligence at a larger scale. Given today’s technology, companies can collect way more data than they can process and make sense of. We’re building Retention Science to help businesses make sense of data more easily and turn data into actionable campaign recommendations.”
Jao explained that having the capabilities to collect big data is just the first step. Determining which data points truly drive business is a critical task that companies need to focus on. This, according to Jao, is where Retention Sciences comes in.
“Retention Science focuses on the data points that will positively increase the accuracy of our recommendations to our clients. It’s important that we understand which data points are important to include in our models and which ones are just noise that would complicate things without increasing business results,” said the co-founder.
Jao shared more about his company’s processes when it came to generating results for clients. “Whenever we engage a new client, we set experimental and control groups so we can clearly measure our benefits and focus on improving our results. We leverage machine learning technology to continuously improve our algorithms so we can make more accurate campaign predictions to help our clients maximize customer retention.”
About Retention Science
Retention Science is the first Retention Automation Platform that turns Big Data analytics and predictive algorithms into actionable retention marketing campaigns. Its Customer Profiling Engine analyzes the customer lifecycle and optimizes the time periods to re-engage customers with individually-tailored offers. Retention Science has been named a Top 10 Software Company in Southern California by SocalTech. Its award winning technology was featured at Under the Radar and won the Judge’s Choice & Audience awards judged by marketing executives from Zappos, Etsy, One Kings Lane, etc.
Learn more at: http://retentionscience.com/.