Next Level Data – Boosting the customer lifetime value
Student Challenge: Frankfurt Business School meets Allianz and SAP
Data sources, types, and volumes continue to grow as digitalization increases. At the same time, it’s difficult for companies to gain truly business-relevant insights in the abundance of this data particularly when it comes to data about their customers. We talk a lot about disruption with customers, what it means to business, how we can apply velocity, experience, and outcomes to optimize the customer lifetime value. In today’s business environment enterprises, face the challenge of delivering the outcomes their customers expect to secure loyalty and revenue as well. By understanding the customer experience and measuring feedback at all key touchpoints, a company can start to understand and enhance the key drivers of its customer lifetime value strategy.
Our customer Allianz Beratungs- und Vertriebs AG was facing this challenge for a long time. SAP Business Challenge Network powered by SAP Experience Garage wanted to support and help to solve this challenge by building the bridge between the representatives from Allianz Beratungs- und Vertriebs AG and the future decision-makers from Frankfurt School of Finance and Management. As part of their lectures, the students worked on this real business case, received data sets from Allianz that they could work with and analyze with their hands on SAP products and applied their knowledge to solve the challenge.
The one-year project was orchestrated by SAP curators, Markus Peer and Artem Levchenko, who took over the role of the bridge makers between the stakeholders and supported the students to overcome the obstacles when presented. It was a year marked by constant and close collaboration, including mid-term presentations, dry runs, and biweekly cadence. At the end of September 2022, the students presented their final results to Allianz Beratungs- und Vertriebs AG and their professors. Bright minds paired with lots of intrinsic motivation led to vivid discussions and to a positive customer feedback at the end.
The participating students are pursuing the master’s degree in Data Analytics & Management. Within their program, the students aim to gain skills and competencies to lead data-driven organizations through digital and business transformation and bridge the gap between the two perspectives. The joint project gave the students the opportunity to apply and expand their knowledge and skillset previously acquired in various modules in a hands-on approach. With the help of the SAP tools, they were also given a new toolkit to experience and improve their approach to data analytics and business intelligence. Overall, the project enabled the part-time students to apply their skills in practice before completing their studies and to get a taste of how their professional future could look like.
Thanks to this project, Allianz Beratungs- und Vertriebs AG was able to think out of the box and will use the ideas and outcomes from the students to enhance their customer lifetime value strategy, as well as to protect and grow revenue, retain and convert customers, efficiently scale their business, and promote operational excellence. SAP is working with academia and business to grow leaders and also strengthen the partnership with our customers by offering them a demonstration of SAP power to their business.