The mobile gambling market is growing rapidly and Probability’s impressive 30% year-on-year revenue uplift has ensured its lead. But with such market growth, new entrants are always trying to compete for customer attention. To maintain its dominant position, in addition to an aggressive customer acquisition programme, Probability is focused on maximising the longevity of its customer relationships.
“The high standard of entertainment that our games offer is delivering a strong inflow of new players, and we want to ensure that we are building upon that initial fun to develop long-term relationships with each one,” says Glenn Elliott, Managing Director of Probability (Gibraltar) Limited, the gambling licence holder. “Featurespace’s technology will enable us to understand individual customer needs and tailor messaging and promotions with maximum relevance and timeliness.”
Probability will be using the Nevis Customer Churn solution ― built upon Featurespace’s unique Adaptive Real-time Individual Change-recognition™ (ARIC™) engine ― to profile each and every customer’s playing activity as it occurs. The solution constantly self-refines its understanding of the customer and automatically detects any change in behaviour that could signify an increased risk of churn. If a change is detected it will immediately trigger Probability’s customer management system to respond with tailored messaging or a retention incentive.
Unlike traditional approaches that categorise customers based on whether they have deposited funds within a specific period, Featurespace’s predictive behavioural modelling allows Probability to be much more flexible. Analysing changes in the context of a customer’s own behaviour rather than relying on arbitrary timescales allows Probability to identify immediately whether or not a customer is at risk and respond before they migrate to another provider.
“Personalisation is central to Probability’s approach, because the mobile channel is intrinsically a more personal medium,” continues Elliott. “By understanding this emotional connection, there’s a highly valuable opportunity to build a deeper and longer-lasting customer relationship. Featurespace’s technology will provide us with the predictive insight to intensify those individual relationships, even with customer numbers doubling year on year.”
Organisations across a range of industries are already using the cutting-edge behavioural modelling and predictive analytics of Featurespace’s core ARIC engine. The ARIC engine is behind solutions that accurately spot customer churn, detect and prevent online fraud, and finely forecast every customer’s lifetime value within just a few days or even hours of registering, including highlighting potential premium or VIP customers. Featurespace plans to extend the application of its ARIC engine to new markets and new business challenges in the near future.
For more information about the Nevis Customer Churn solution or any other Featurespace solution, visit: www.featurespace.co.uk
About Featurespace
Founded in 2005, Featurespace is an organisation specialising in the development of software solutions built upon its unique Adaptive Real-time Individual Change-recognition™ (ARIC™) engine, commercialising world-leading research into advanced statistical modelling conducted at Cambridge University. Featurespace's solutions enable organisations to monitor business activity at an individual entity level (e.g. customer, product etc.), predict future outcomes and automatically alert on important changes. The solutions self-refine with every event to constantly improve understanding and predictive accuracy.
The company was co-founded by Dave Excell, whose interest in the commercial power of real-time Bayesian Inference arose during his PhD studies at Cambridge University into behavioural analytics. Featurespace’s other co-founder and fellow board member, Bill Fitzgerald, is Professor of Applied Statistics at Cambridge University, which ensures the company remains at the forefront of analytical thinking. An investor and non-executive director of the company is another of Professor Fitzgerald’s Engineering Department alumni: Dr Mike Lynch OBE, founder and former CEO of Autonomy, whose Bayesian approach underpinned Autonomy’s highly successful conceptual search and contextual linguistic analysis tools.
Headquartered in Cambridge, UK, Featurespace is supported by a wide range of private and institutional investors.
To find out more, visit: www.featurespace.co.uk
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Press contact
Jeremy Jones
Featurespace
Tel: +44 (0)1223 345940
Email: jeremy.jones@featurespace.co.uk
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