As Number Portability Nears, Compete, Inc. Estimates Industry-Wide Revenue Loss From Churn Activity Online Will Reach Nearly $3 Billion.To download high-resolution, print-ready JPEG JPEG in full Joint Photographic Experts Group Standard computer file format for storing graphic images in a compressed form for general use. JPEG images are compressed using a mathematical algorithm. images, click on the thumbnail A miniature representation of a page or image that is used to identify a file by its contents. Clicking the thumbnail opens the file. Thumbnails are an option in file managers, such as Windows Explorer, and they are found in photo editing and graphics program to quickly browse multiple image above. WARNING: these images are very large (800K+) Click here for caption Business Editors/High-Tech Writers NOTE TO MEDIA: Multimedia assets available A spreadsheet is available at URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com/cgi-bin/photo.cgi?pw.091603/bb10 BOSTON--(BUSINESS WIRE)--Sept. 16, 2003 According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Compete, Inc., a predictive analytics Predictive analytics encompasses a variety of techniques from statistics and data mining that process current and historical data in order to make “predictions” about future events. firm, the volume of competitive consideration facilitated online will result in more than $3 billion in revenue loss industry wide during the next 12 months. The growing complexity of service plans and data features has driven customers online to help manage their accounts and evaluate carriers for future purchases. "The internet has become an inseparable in·sep·a·ra·ble adj. 1. Impossible to separate or part: inseparable pieces of rock. 2. Very closely associated; constant: inseparable companions. component of consumer decision-making for wireless products and services," said TJ Mahony, Compete's senior wireless analyst. Each month approximately 10 million wireless customers use the Internet to manage their accounts (e.g., pay bills and check their minutes used). Of these online customers more than one million exhibit pre-churn behavior. According to Compete, 25% of online customers who exhibit pre-churn behavior will switch carriers in subsequent months. Pre-churn identifies a customer who has not switched carriers yet but has begun the competitive consideration process. With November 24th on the horizon, carriers are on the hook Adj. 1. on the hook - caught in a difficult or dangerous situation; "there I was back on the hook" dangerous, unsafe - involving or causing danger or risk; liable to hurt or harm; "a dangerous criminal"; "a dangerous bridge"; "unemployment reached dangerous to maximize retention, minimize consumer attrition Attrition The reduction in staff and employees in a company through normal means, such as retirement and resignation. This is natural in any business and industry. Notes: , and increase customer acquisition from defectors. "Carriers are watching carefully as number portability See NP. nears because of the threat it presents to customer churn and the competitive landscape," added Mahony. "Analysis of timely consumer behavior of in-market wireless subscribers online will serve as the leading industry indicator of who the winners and losers will be." About Compete, Inc. Compete provides the earliest indication of actual consumer behavior available, which gives clients the information needed to improve the effectiveness of customer acquisition, servicing cross-sell and retention. Compete has proven that online data on consumer behavior is a predictive indicator of total demand and purchase intent - both offline and online. Compete leverages its database of the daily behavior of more than 10 million online consumers to offer industry-specific Intelligence Services consisting of predictive analytics that provide insights into total demand and purchase intent, which Compete's experts interpret to provide clear, actionable, recommendations. Since launching its services Compete has provided major auto manufacturers, multi-line banks and wireless carriers with a new and unique vantage point on their customers and competitors not previously available. For more information visit the company's website at www.compete.com. Note: A spreadsheet is available at URL: http://www.businesswire.com/cgi-bin/photo.cgi?pw.091603/bb10 |
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