Source Christian Holzinger

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Finding customer needs using Cluster Analysis

Published: Author: Oliver Staubli, CEO & Data ScientistTags: ArticleE-CommerceData Science,  Examples,  Exploratory Data AnalysisData Visualization

Whether your company sells clothes, cars or shampoo, with every product sold you should learn more about the past needs of your customers. The longer the customer relationships and the more customers you have, the greater the chance that exciting patterns are hidden in your transactional data. The knowledge about your customers' needs is ideal for cross- and up-selling. Through improved targeting (matching the right offer to the right customer), your customers are more likely to convert. In addition, customer loyalty increases because the customer feels understood and listened to.

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Cohort Analysis with Interactive Simulation

Published: Author: Oliver Staubli, CEO & Data ScientistTags: Data VisualizationE-CommerceMarketingExploratory Data AnalysisRetailSales,  Examples,  Training

Cohort Analysis enables you to easily compare how different groups, or cohorts, of customers behave over time. This gives you quick and clear insight into customer retention trends and the health of your business. See how your latest customers compare to those from several years ago, or compare users who joined over the holiday season with another group that joined in the summer and see if those holiday shoppers really stuck around.

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Image: Sawamur

Predictive Customer Lifetime Value

Published: Author: Oliver Staubli, CEO & Data ScientistTags: Predictive AnalyticsE-CommerceMarketingSalesRetailInsuranceUtilitiesBankingTelecommunications,  Examples,  Training

"Customer Lifetime Value" (CLV) describes the amount of profit a customer generates over his or her entire lifetime and is therefore a prediction of the net profit attributed to the entire future relationship with a customer. CLV is probably the single most important metric for understanding your customers. CLV helps you make important business decisions about sales, marketing, product development, and customer support.

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