Company records a 300 percent improvement in targeting accuracy
KXEN, the leading provider of predictive analytics for business users, today announced its expanding relationship with Tipp24.com, one of Europe's leading lottery intermediaries licensed by the UK Gambling Commission. Using KXEN’s InfiniteInsight®, Tipp24 has quadrupled the performance of its targeting accuracy for its millions of customers and is now taking personalization to an even higher level with “next best activity” approach across all of its customer-facing channels.
Tipp24.com makes it easy for people to place bets online on the outcome of major European lotteries like the German Lotto and Spanish Euro Millones and initially deployed KXEN’s InfiniteInsight® to analyze the company’s “big data”, including billions of online transactions and over 500 customer attributes. Using KXEN predictive analytics, Tipp24 boosted targeting accuracy of their marketing campaigns by 300 percent across customer-facing channels such as email, phone and direct mail.
“Without KXEN, this level of sophistication would not have been possible,” said Pankaj Arora, Senior Analytics Consultant at Tipp24. “Other predictive analytic solutions require triple the time to build even a single model and would have been impossible to manage.”
KXEN’s easy-to-use, patented automated approach to analyzing big data provides a high degree of certainty of what any individual will do next, such as accept a promotional offer or stop using the online service. In contrast, other legacy tools rely on expensive and highly skilled statisticians and data scientists to perform manually intensive processes which can often be less accurate.
Building on its success with predictive analytics, Tipp24 is deploying a “next best activity” solution powered by KXEN. Instead of creating predictive models to support one-off campaigns or business questions, Tipp24 will use KXEN’s “semantic layer” to assemble over 30 predictive models daily from the freshest customer data to personalize the right offer for the right customer at the right time, no matter where they are in the customer lifecycle.
KXEN’s semantic layer takes a patent-pending two-step methodology to build a 360-degree view of the customer and reconstruct analytical data used in the predictive modeling process which can take weeks or months with traditional approaches.
“We’re pleased with the results that Tipp24 has so far achieved personalizing interactions with their millions of unique customers and look forward to our continued support of their future marketing campaigns,” said John Ball. “As understanding the online consumer becomes increasingly crucial for e-Businesses, we remain committed to helping the world’s leading online retailers gain unparalleled insight with predictive analytics.”
About Tipp24 SE
Tipp24 SE was founded in September 1999 and holds equity interests in a number of companies in Spain and the UK, which enable participation in lottery-based games via the Internet, especially via the websites ventura24.es, mylotto24.co.uk, tipp24.com and geosweep.com. From its foundation to the end of 2008, Tipp24 SE brokered tickets worth over 1.5 billion euros to the state lottery companies in the latter years over 330 million euros annually.
Following its successful IPO in 2005 (Prime Standard), the company was admitted to the SDAX index in June 2009. In July 2012, German online brokerage activities were successfully spun off from Tipp24 SE in the form of the listed company Lotto24 AG. With the acquisition of a stake in the UK-based company Geonomics Games Limited in December 2012, Tipp24 SE laid the foundation for the expansion of its international business.
KXEN (kxen.com) is revolutionizing the way companies use predictive analytics to make better decisions on petabytes of big data. Based on patented innovations, the company's flagship product, InfiniteInsight® and its pure cloud-based platform, Cloud Prediction™, delivers orders of magnitude improvements in speed and agility to optimize every step in the customer lifecycle including acquisition, cross-sell, up-sell, retention and next best activity. Proven with over 500 deployments at companies such as AAA, Allegro, Bank of America, Barclays, Belgacom, CBS Interactive, ING Direct, Lowe’s, Meredith Corporation, Mobilink, Overstock.com, PT XL Axiata, RealNetworks, Rhapsody, Rockwell, Rogers, Sears, Shutterfly, Stage Stores, U.S. Cellular and Vodafone, KXEN solutions deliver predictive power and infinite insight. KXEN is headquartered in San Francisco, California with field offices in the U.S., Paris and London.