Tuesday, February 5, 2013
Retention Science Debuts Retention Score
Los Angeles-based Retention Science, the developer of big data analytics software for online marketing, announced today that it has launched a new "Retention Score", which it bills as a Klout Score of e-commerce. The score allows online stores to see, at a glance, what their performance is with customer retention. Retention Science said the score looks at customer churn, customer engagement, customer sentiment, and repeat purchase rate to let businesses get an idea of how they are doing with customer retention, similar to what Klout has done on the consumer side with measuring the influence of users online.
Retention Science said its new score helps businesses predict customers are likely to churn or unsubscribe, and also provides campaign recommendations that the business can take actions on to improve its customer retention. Retention Science develops software which uses big data to help analyze and predict the behavior of consumers on a web site, which can be used to drive offers to those customers.
Retention Science is venture backed by Baroda Ventures, Mohr Davidow Venutres, Double M Capital, along with angels Paige Craig, Clark Landry & Bong Koh. The firm originally came out of the MuckerLab accelerator in Los Angeles, and is headed by Jerry Jao.