Harnessing Product Analytics to Advance Smart Home Heating Technology

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Case Study
Harnessing Product Analytics to Advance Smart Home Heating Technology

Industry: Utilities

Challenge: Product Development and Commercialisation Strategy

Solution: Cohort Analytics for Customer Segmentation and Product Strategy

Technology: MY SQL, Excel

Stock Image Of A Young Woman Contemplating Two Computer Monitors, She Is Illuminated By The Red Light From A Peripheral Screen Image.

Situation and Challenge

A national energy provider, in partnership with a home heating technology manufacturer, sought to launch and commercialise connected smart boiler diagnostics ahead of market competitors. Following a year-long prototype trial, senior executives required objective commercial analysis to:

  1. Accurately evaluate the product’s commercial value and cost-saving benefits
  2. Develop a robust business case for product commercialisation
  3. Gain a competitive edge in the smart home device market

The proposed technology aimed to deliver advanced monitoring of connected home devices, utilising machine learning for optimised performance diagnostics and failure monitoring, promising fewer breakdowns and improved repair efficiency.

Insight and Action​

Our approach encompassed:

  1. Collating data from multiple sources, including product trial data, operational costs, and KPIs
  2. Developing a cohort analysis model to compare trial and control subsets
  3. Conducting hypothesis testing with cohort subsamples
  4. Benchmarking results across cohorts based on defined KPIs to quantify product value
  5. Creating a cost-to-serve model to calculate expected cost savings and monetised benefits per customer
Results and Impact

Our analysis yielded significant insights:

– Demonstrated a double-digit percentage cost reduction, equating to annual savings exceeding £1 million

– Projected a 20% improvement in first-time breakdown fix rate

– Estimated a 44% reduction in overall repeat visits due to enhanced remote diagnostics and parts pre-ordering

These performance insights were instrumental in:

– Gaining senior stakeholder confidence and support

– Securing approved funding for ongoing product development

– Accelerating commercialisation and roll-out efforts

 

Key Achievements:

– Implemented a product analytics model and framework for real-world performance evaluation

– Developed a robust cost-to-serve model, quantifying over £1 million in annual savings potential

– Collaborated with leadership to translate cost analytics into strategic pricing insights and go-to-market prioritisation recommendations

PARTNER WITH TRELLISI
Let's Help You Transform for Growth and Accelerate Impact
Trellisi's machine learning expertise has been instrumental in helping our team gain deeper insight into customer behaviour and preferences. This has enabled us to provide more personalised recommendations and create an even better customer experience. We've seen a marked increase in average transaction value, largely driven by the exceptional precision and power of the solution provided. We're excited to continue leveraging Trellisi's expertise to further our progress!
SVP Marketing - Technology Services
"We teamed up with Trellisi to support our business model and pricing strategy transformation. With their modelling and analytics expertise, we were able to evaluate various pricing options and GTM scenarios and their impacts in a meaningful way. Their insights and crucial challenges provided us with critical feedback and guidance throughout the entire process.
CFO - Private Equity Portco
“The Trellisi team pulled together tons of data to cleanse, analyse and map the customer journey. The insights and new KPIs helped us prioritise actions and track performance as we improved processes to simplify the customer journey.
Ops Director - Retail Services

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