Adapt The Solution & Play With Your Own Data
The flow can be easily adapted with on-demand customization services to allow you to upload your own transactional data and rebuild the flow based on your goals.Explore !
The goal of this adapt and apply solution is to show retail organizations how Dataiku can be used to predict the customer lifetime value (CLV) of customers in order to optimize marketing spending and customer acquisition costs with a variety of predictive approaches. More details on the specifics of the solution can be found on the knowledge base. This solution is available on installed instances and Dataiku Online.
Efficiently managing an existing customer base is critical: acquiring new clients costs 5x more than retaining existing ones, and well designed customer lifetime value (CLV) supported strategies enable to deliver up to +30% life in sales. It is thus essential for retail brands to well understand their customer base across different dimensions and potential so as to answer the following strategic question: which customers should I invest into?
To do so, brands need to identify who their most valuable customers are, what their potential future spendings amount to, and how to engage with them. In other words, the ability to estimate current and future customer value is a huge opportunity to optimize marketing spendings and build long-lasting relationships with valuable customers. Combining different approaches and leveraging RFM analysis gives new opportunities to brands to make refined strategic choices in their sales and marketing programs.