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Knowing how long a customer is likely to remain a customer is a prerequisite to effectively model lifetime value, manage resources, and calculate target costs per acquisition. As an added bonus, understanding the factors that influence customer churn can reveal priceless opportunities to optimize performance. There’s little doubt that survival analysis is a useful tool…
When was the last time you used data to look forward rather than back? Do you use data from your website analytics and CRM platforms to simply report on performance, or are you using it to make predictions about the future—and identify opportunities to intervene and shift forecast behaviors? Propensity modeling allows you to make…
Last year I discovered the intricate, nuanced, complex beauty of my apartment ceiling. In just a few months, what was previously just a flat white surface and a few lights morphed into a discolored, patchy blanket that hovered over me irritatingly while I stared up from my sofa, day in and day out. Maybe it…
Management consultant and writer Peter Drucker is perhaps best known for creating one of modern management’s most famous quotes: “If you can’t measure it, you can’t improve it.” While the quote may be a bit of an over-simplification, it reminds us that being able to measure progress towards our goals is critical if we want…
Traditional data models reveal fatal flaws in times of extreme change—never more so than during last year’s unprecedented events. Across industries, seismic shifts in consumer behavior, data collection, and device sharing brought the golden age of black-box algorithms to an end. So… what’s next? How do we create models that are not only stable and…
2020 changed things. Some changes were disruptive: businesses closed (some temporarily, many permanently); working from home (and just being home all the time) dislodged familiar consumption habits; purchase decisions took on new importance. These changes gave rise to digital innovations for select companies fortunate enough to align with this shift, ranging from new online learning…