In recent weeks, IFAB 4 Next Generation Talents officially kicked off—the program aimed at engaging the best university students from Emilia-Romagna to foster new synergies with the Foundation’s member companies. With the start of activities, the challenges proposed by IFAB network companies are also underway: the first challenge is presented by Illumia.
The first challenge: creating a Scoring system
With its challenge, Illumia asks participants to predict and prevent customer behavior to enhance the customer experience through an analysis of the provided data. To meet the challenge requirements, students will go through several key steps:
- Analyze the provided customer base data (customer information, contacts, and billing details)—a critical phase that will allow participants to examine customer histories
- Study key trends and identify possible correlations
- Develop a predictive model to create marketing strategies that meet customer needs
Impact and Benefits of the Challenge
This challenge will give students the opportunity to work on the customer retention process, improving customer experience and reducing churn rates. This will result in more targeted strategies for the company and an expanded customer portfolio. Specifically, Illumia has identified three key benefits it hopes to achieve through the scoring system, which participants will need to focus on:
- Diversification of customer types
- Doubling customer numbers
- Growth of new customers
Through this challenge, participants in the Next Generation Talents program will have the opportunity to think outside the box, take action, and collaborate by combining their diverse backgrounds.
