Plug & Play With Your Own Data via Dataiku App
Upload the data or connect to Snowflake / Google Cloud Platform via Dataiku App. You have the option to connect your RFM scores from the RFM Segmentation solution.
Explore !The goal of this plug and play solution is to show retail organizations how Dataiku can be used to predict the future value of your customers and organize them in well structured groups, in order to optimize your efforts to increase revenues over time. More details on the specifics of the solution can be found on the knowledge base.
Business Overview
The consumer landscape continues to evolve in an increasingly competitive marketplace, placing customer loyalty under threat. As a result, it is imperative brands attract and retain high-value customers through impactful initiatives that maximize their value. Customer Lifetime Value (CLV) is fundamental for companies to understand, track, and work to increase customer value over time. Investing in the long-term retention of your most valuable customers can yield incredible results.
Forecasted CLV boils down to keeping your customers coming back again and again to repurchase over their lifetime with your company. When CLV is combined with various transactional data, demographic insight and other key metrics like customer acquisition cost, you get an even clearer view of your most important customers, further empowering you with greater insight for action.
Dataiku’s Customer Lifetime Value solution is designed to address very practical and necessary applications for business users, enabling you to develop an understanding of your customer base, build customer groups, forecast customer lifetime value, and integrate all of the above in your sales and marketing strategies.
Highlights
- Input transactional data to analyze the distribution of your customer base with the option to connect to RFM Segmentation for more accurate CLV predictions.
- Build customer groups based on value-spend (Low, Medium to High Customer Lifetime Value) using quantile or k-means clustering.
- Compute the average CLV increase per month to capture shifting customer dynamics.
- Predict the future CLV of your customer groups and explore how much value your customers create over a given period of time.
- Control model accuracy thanks to dedicated visualizations.
- Accelerate impact for marketing professionals with a business dashboard designed to unlock insight to considerations like acquiring customers, building customer value, retaining customers and more.
Data Driven Insights
A ready-made project with clear flow zones turning transactional data into actionable insights about the current and future value of your individual customers.
Explore !
Understand your CLV and customer clustering
Get a quick and shareable view of how your current CLV groups are predicted to shift over time.
Explore !
Predict the future CLV and better spend your marketing budgets
Predict the future customer lifetime value by using a choice of different approaches to best-fit customer data and needs. Analyze the CLV of your top-ranked customers and compare it to other clusters.
Explore !
Verify the CLV dynamics per cluster on different time periods
Leverage the Data Science Validation Dashboard to perform “what-if” analysis, track model performance and analyze model results across your CLV clusters.
Use the Business Insight Dashboard to understand the predicted values and trends for your CLV clusters to optimize your customer acquisition and targeting efforts.
Explore !