Rais offer a CRM solution as a SaaS for small and medium sized retailers who want to understand their customers better to drive customer acquisition and retention. Small and medium sized retailers often don’t have the resources and expertise to conduct effective targeted marketing campaigns. The S2DS project objective was to create a visualisation tool to offer more actionable insights for marketers for a chosen customer segment.
A visualisation tool was developed to segment the user base according to two criteria: the churn probability of each customer, obtained using a Random Forests model, and the expected lifetime value of each customer, computed with a Buy 'Til You Die model.
The model thus gives the ability to assign a churn probability to each customer who has not churned yet. This predictive analysis gives the marketer information on which customer risks becoming dormant.
To distinguish customers who might spend little in the future from large spenders, a Buy'Til You Die model (based on the beta/geometric-NBD model) was applied on sales data to give an estimate of the expected future expenditure of a customer.
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The S2DS project team developed a visualisation tool which allows marketers to segment the buyers and identify customers of high value and those who risk becoming dormant.
"We partnered with Pivigo to build a new analytical model for our product. We were very impressed with our team; their practicality and commercial thinking."