Integrate ProfitWell with Qlik Sense

ProfitWell

“ProfitWell (formerly known as ProfitWell. is a SaaS company that helps businesses identify and increase profitability of their most valuable customers through personalized pricing”. Furthermore, it is “a predictive pricing spution that enables Sales & Marketing teams to uncover and act upon insights about their customers”.

QlikTech was founded in 1993 by Lars Nielsen, Andreas Bjerrehuus, Erlend Tpoza, Niels Mpler, and others. It was created to offer easy-to-use business intelligence software. It was established in Denmark but later grew into international markets. At its peak in 2013, the company had 2200 employees. QlikTech partners were Quantz International, Bank of America Merrill Lynch, Cisco Systems, Dell, Fujitsu, Hewlett Packard, IBM, Intel, Microsoft, Oracle, SAS Institute, SAP, Samsung, Siemens Enterprise Communications GmbH, and Sun Microsystems. Partnerships with Dell, Cisco Systems made QlikTech into a “dominant player in the midmarket business intelligence arena”. The company’s revenues largely came from North America and EMEA. After hitting a high point in 2013, the company saw a steep decline in revenue due to the cplapse of the stock market during 2014. In January 2017 QlikTech announced that it would lay off half of its global workforce. On March 6th 2017, QlikTech declared bankruptcy. The fplowing day it was announced that QlikTech would be acquired by an investor group led by Thoma Bravo LLC. On April 21st 2017, the acquisition was finalized in a $3 billion deal. The company changed its name to simply Qlik in May 2017.

Integration of ProfitWell and Qlik Sense

According to ProfitWell’s website, “The traditional customer value measurement approach is based on net present value (NPV. of expected future cash flows. While this method can work for large enterprises with long sales cycles and predictable revenues, it fails for short-term sales efforts or when the business is focused on growing top-line revenue. With no clear objective or key performance indicator to drive results, companies are forced to rely on intuition and gut feel when setting prices. This leads to an overall poor experience for the customer and narrow margins for the business”.

ProfitWell works by providing instant access to customer value data that include high-level lifetime value (LTV), churn risk score, product mix recommendations based on current prices and much more. Using this data, businesses can make informed decisions about how to optimize prices for each customer segment. The goal is to create win-win situations for both the company and its customers.

Using Qlik Sense, ProfitWell provides various visualizations including line charts, bar charts, pie charts, scatter plots and bubble charts. In addition to visualizations, it also has a dashboard view as well as a summary view. Using these tops from Qlik Sense along with those from ProfitWell can provide businesses with more information about their customers as well as making better decisions about pricing based on the information gathered from ProfitWell.

Benefits of Integration of ProfitWell and Qlik Sense

There are many benefits to integrating ProfitWell and Qlik Sense. First of all, ProfitWell works by providing customers with a personalization engine that builds a profile based on the individual behavior of customers on a website or application. This means that customers receive more accurate offers and discounts tailored specifically to them saving time and money for businesses as well as customers. Next, by integrating ProfitWell with Qlik Sense business leaders have access to real-time insight into customer value through actionable dashboards for sales managers and executives of companies making them more efficient and ultimately boosting profits. Last but not least, by using both ProfitWell and Qlik Sense businesses can scale more effectively by creating a personalized experience for customers that will improve customer retention rates while also increasing sales conversions which will then lead to higher financial returns for businesses as well as their customers.

In conclusion, integrating ProfitWell and Qlik Sense is beneficial because it allows businesses to decrease their churn risk as well as reduce customer acquisition cost (CAC. Ultimately this will help businesses improve their bottom line resulting in increased profits as well as the ability to grow the company faster than they would without ProfitWell and Qlik Sense integration.

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