Overview of Consumption Insights
Overview
Consumption Insights is a machine learning-powered feature designed to help your business optimize revenue by providing deep analytics on usage-based metrics. This feature supports usage-based pricing model users. By leveraging data-driven insights, you can accurately forecast revenue, identify top products and customers, and mitigate churn risk.
Key Capabilities of Consumption Insights
Overview Dashboard
- Provides a comprehensive snapshot of total billable usage trends.
- Includes historical data and forecasting for the current and upcoming months.
- Identifies top 5 products and top 5 customers based on billable usage amounts.
Account Insights
- Displays detailed usage trends for each customer account.
- Opportunity Scoring ranks customers based on increasing usage patterns, highlighting up-sell or cross-sell potential.
- Risk Scoring identifies accounts with declining usage, indicating potential churn risks.
Billable Amount Drivers
- Analyzes billable amounts by product or customer to uncover key revenue drivers.
- Provides insights into high-performing products and customers.
Forecasting & Anomaly Detection
- Predicts future revenue and usage trends using historical time series data.
- Identifies anomalies that may require business intervention.
- Enables proactive decision-making to maximize revenue opportunities.
Users Benefits
- Accurate Forecasting: Plan effectively with precise predictions of future usage trends.
- Revenue Optimization: Unlock new revenue opportunities by understanding customer behaviors.
- Churn Prevention: Detect at-risk customers and take proactive measures to retain them.
- Strategic Decision-Making: Gain a competitive edge by leveraging actionable insights.
Consumption Insights Use Cases
Forecasting Revenue
- Predict future billing amounts based on customer usage trends.
- Period over period comparison to identify seasonal variations and align business planning accordingly.
Upsell and Cross-Sell Optimization
- Use opportunity scores to target high-growth accounts.
- Enhance customer engagement strategies based on detailed usage patterns for particular units of measure.
Churn Risk Mitigation
- Leverage risk scoring to identify accounts with declining consumption.
- Take proactive steps to re-engage at-risk customers.
Frequently Asked Questions (FAQs)
Q. How frequently is the Consumption Insights data updated?
- The data is refreshed daily, with timestamp in the dashboard.
Q. What forecasting model does Consumption Insights use?
- We use machine learning models that predict time-series data as well as detect anomalies in time-series data. We score accounts using a variety of algorithms (e.g. Mann-Kendall Test) to score individual accounts.
Q. Does this feature work for all Zuora customers?
- Consumption Insights is compatible for all Advanced Consumption Billing (ACB) customers as well as Non-ACB cusotmers.
Q. Does Zuora charge extra for this feature?
- No, this feature is included as part of of your Billing subscriptions.