Data Value Hub Eighty6

How sales software company, Eighty6 harnessed the power of Artificial Intelligence and Deep Learning to reduce Customer Churn

Eighty6 were eager to improve their algorithm predictions via the power of Deep Neural Network-based Artificial Intelligence (AI) to reduce Customer Churn for their wholesaler clients. Through our hands-on AI Project Incubator programme, we partnered with Eighty6 to create a new model that streamlined and improved their data efficiency, empowering them to deliver an improved experience to their clients.

Meet Eighty6

Eighty6 is an Irish software company offering a streamlined data-driven solution to help wholesalers combat customer churn.

Their sales analysis tool provides an exciting opportunity for suppliers of consumable goods to grow their wholesale business by dramatically reducing sales leakage.

By continuously scanning for changes in how customers buy products & flagging potential threats before they happen, the headache and worry of constant customer churn are eliminated.

The result? Streamlined systems, efficient sales teams and improved customer retention & loyalty.

Industry: Sales/ Software

Location: Dublin, Ireland

Company Size: Start-up

Key Project Deliverables:

  • Improve algorithm predictions and data accuracy
  • Build cloud computing knowledge & skillset
  • Enhance customer experience

Service Solution: Data Value Hub’s

“Our partnership with the Data Value Hub’s Incubator is a game changer for Eighty6 Software that enables us to bring cutting-edge innovative products to market while transferring the technical knowledge into our organisation.”

David Bowe, Managing Director, Eighty6

The Challenge

“Algorithms are at the very heart of our service, and the quality of results that we give to our customers is dependent on how accurately they perform. Even though we provide the most detailed analysis of sales leakage available in the market, we want to pioneer our methods further and continuously look for ways to push the boundary” – David, Eighty6

Eighty6 sought to adopt Deep Neural Network-based AI technology to advance the accuracy of their algorithm predictions. However, to make this possible, some data engineering challenges needed to be addressed first.

We already know that it’s possible to create AI tools that can write my essay for me, and it will look like it was written by a human. But the solution for Eighty6 was more complex. Because of a varied customer ordering history and Consumer purchasing data by its inconsistent nature is difficult for an AI to analyse, Eighty6 deals with a challenging dataset.

For example, customer “A” may have purchased a product 700 times, giving 700 data points. While customer “B” may have ordered only 500 times, producing a dataset with 500 data points.

Deep Neural Networks cannot handle irregular datasets like this, so a process to standardise the datasets was required.

And that’s where we came in.

The Solution

“As such, for a long time, we have wanted to embed deep neural networks into these algorithms and bring the full power of artificial intelligence to what we do. But we’ve never had the resources or knowledge available to do it before we reached out to The Data Value Hub” – David, Eighty6

Eager to find an innovative, scalable solution, Eighty6 turned to us. After an initial consultation, we recommended our AI Project Incubator programme.

This programme gave Eighty6 instant access to the tools and resources they needed to leverage the power of AI for their business – from technical resources to on-demand training we worked through the DVH’s Playbook on AI Project Development, Implementation and Cloud Computing.

Benefits

“The new model will mean we can predict customer churn much more accurately for our clients. The more accurate our predictions, the more effective their sales team can be, the faster they can grow” – David, Eighty6

While it’s still early into the project implementation stage, since introducing our model, Eighty6 have already witnessed the following results:

Enhanced product offering - our model helps Eighty6 predict customer churn more accurately for their clients

Advanced in-house understanding of Cloud Computing with this jointly-developed application of Deep Neural Networks

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