Columbia Research Identifies Customers At Risk, and More – New York City News
Let’s explore some of the most interesting stories that have emerged from New York business schools this week.
Online Companies Beware: New Columbia Business School Research Reveals That Customers With High Activity May Be At Risk Of Leaving the Company – Columbia Business School Blog
Columbia Business School professors Eva Ascarza and Oded Netzer recently published new research that explores how “customers end their relationships with companies in new and unpredictable ways.”
Professor Ascarza writes, “Companies need to understand the ramifications of this paper, because in the digital age, the landscape on customer retention has changed. Unlike the past when a consumer might have had to physically call to end a relationship with a company, today some customers are leaving without saying goodbye.”
Professor Netzer adds, “When it comes to customer retention levels, the most important thing is acknowledging that, in this new hybrid setting, there are indeed two unique types of customers who are at risk of ending their relationship with a company.”
“If businesses want to continue amassing and retaining loyal customers, they need to identify which customers belong in which bucket and then study their individual behavioral patterns so that they can take the appropriate measures to stop them before they walk out that virtual door.”
You can check out the article and the full study here.
Analytics Career Fair Draws Dozens of Recruiters to Meet Business Students – Stevens Institute of Technology School of Business Blog
The Stevens Institute of Technology School of Business Intelligence & Analytics program recently hosted a networking event in which Bed Bath & Beyond VP of Consumer Analytics Melanie Murphy spoke “with dozens of master’s students about how their analytical insights create value in business.”
Of Stevens’ Biz Intelligence & Analytics program, Murphy writes, “The program is so well balanced, from data, to different types of analytics, to the business intelligence perspective—and the students are incredibly smart.”
She adds, “You can tell, in talking with these students, that they’ve had that experience of getting in front of people and sharing ideas.”
According to the article, recruiters from Robert Half, L’Oreal, Jefferies, and UBS, among companies, “attended the event to meet and ask questions of students about their research.”
L’Oreal Assistant VP of Human Resources Information Services Gary Winant “brought in a Stevens team to examine turnover in a particular department, and use predictive tools to recommend solutions.”
He writes, “The students here come ready to work. I met with the students twice and was impressed by their commitment. We came back to them three months later with additional questions and even though the project was over, they took the time to respond in detail.”
You can read the full report from this year’s Business Intelligence & Analytics program here.
Graduate Students Provide a Helping Hand for New Business Owners – Gabelli Connect
Fordham’s recent Entrepreneurial Law Clinic was a joint effort between the Gabelli School of Business and Fordham Law, which “brought together students to work on behalf of … social ventures that seek to create positive change in society and companies founded by low-to-moderate income entrepreneurs who otherwise would be unable to afford an attorney.”
One business the Entrepreneurial Law Clinic supported was ConBody, “a boutique gym where New Yorkers learn a workout regime” its proprietor Coss Marte developed in prison. Marte, who received business training at “Defy Ventures, a non-profit that helps formerly incarcerated individuals start businesses,” got legal counseling from Fordham law students and fundraising advice from Gabelli students.
He writes, “They’re absolutely geniuses. They shot me questions that I never really thought about, and I was like, ‘Oh, I should do that.’ They were really on top of their stuff, and really hungry in helping me.”
You can check out the full piece here.