The energy sector has faced a major transformation in recent years. The liberalization of the energy sector ensured that energy supply was no longer possible in the traditional “push strategy.” The customer became the center of attention, as customer churn became a common concept within the sector. From now on, an individual could actively choose an energy supplier, something that was impossible before. In their choice, customers were initially often led by favorable pricing. In a later phase, green energy made its appearance and became a decision factor just as valuable as price. In order to tackle these changes, suppliers started recruiting complementary profiles in other sectors that experienced a similar transformation. These recruits came mostly from the financial and telecom world to embrace a more customer centric approach within the organizations.
In our latest post, we have talked about the personalisation shift that companies face today. New technologies and changing customer expectations force organisations to critically review their processes and use innovative technology to create value for their clients.
This is no different in banking and insurance. Financial services providers have to take on a more supportive role as an advisor for their clients, preferably approaching them as individualised as possible. After all, customers simply see through hollow, automated messages. They expect to receive only relevant information that makes a difference for them on a personal level.
In our latest AE Financial Services newsletter we elaborated on why we, at AE, are convinced that offering your clients a relevant and personalized experience is a key differentiator in the world of financial services. Do you agree? And so does the rest of your organization?
In this series, we will take an in-depth look at our current analytics projects in the utilities sector. We will primarily allow data scientist and AE consultant Jan Vercammen to speak to clarify the synergy between sector and solution. In the previous series, we already discussed the Customer Journey tooling and the Churn insights Tool. Today, we will tell you more about another innovative project: tariff setting with Smart Meter Data.
In this series, we take a closer look at some analytics projects for our energy customers. In a previous article, we already discussed an innovative customer journey tool. Once again, we will let Jan Vercammen speak. He will tell us more about a Churn insights tool, which is helping to solve one of the biggest issues plaguing the utilities sector.