Quadstone, Boston, a provider of customer intelligence software and services for customer relationship management, said yesterday that Fingerhut Cos., Minnetonka, MN, has selected the Quadstone System to help the company in its database marketing initiatives.
Fingerhut's business intelligence team, which is comprised of marketing and statistical analysts, will use the system to develop models in support of direct marketing campaigns. The campaigns will promote brand names such as Fingerhut, Figi's, Old Pueblo Traders, Bedford Fair, Willow Ridge, Brownstone Studio, Lew Magram and Popular Club.
Fingerhut said it put the Quadstone System through a rigorous proof-of-concept exercise before deciding to buy. The test indicated that the system was able to analyze “quickly and accurately” massive amounts of data while integrating with Fingerhut's existing IT infrastructure, Fingerhut said.
Fingerhut will use the Quadstone System to analyze online and direct marketing campaigns and to predict customer behavior in areas including response to promotions, dollar amount of orders, pre-shipment cancellation of orders, lifetime value of customers and saturation of promotions.
“Our current priority is to improve the speed with which we can deliver, verify and deploy our response and lifetime value models,” said Michael Sherman, president of Fingerhut Cos. “Quadstone System provides analysts with a highly productive environment, and we will leverage it to keep pace with our more dynamic consumer markets.”