Customer Acquisition and AI Customer acquisition is the process of convincing a consumer to buy your products. A customer acquisition manager takes into account the cost associated with this process when measuring the efficiency of a customer acquisition strategy. For a…
Chatbots are Rapidly Gaining Traction in the e-Commerce Platforms Domain. Here’s Why!
Have you noticed that certain websites have tiny pop-up windows that greet you with a welcome message every time you visit them? Those tiny pop-ups are called chatbots! Think of Siri and Alexa – these smart AI assistants are nothing but…
Leveraging AI for Customer Churn – Part 1
Managing a business isn’t a cakewalk, especially when you fear that some of your customers are leaving you. They are moving on to better ventures. In marketing, that is what we call, “customer churn.” Customer Churn or Customer Attrition is the…
Leveraging AI for Customer Churn Prediction – Part 2
In Part 1, we discussed at length about what churn forecasting is, why is it essential for your business, and the challenges in churn forecasting. In this part, we’re going to talk about how ML can enhance customer churn prediction. While…
MLOps – The New Mantra for Businesses in the AI and ML Game!
Thanks to the rapid adoption of Artificial Intelligence (AI) and Machine Learning (ML) across industries, AI and ML have found a place in the common vocabulary. Almost every sector of the industry (healthcare, e-commerce, IoT, banking & finance, etc.) are leveraging…
A Peek into Anomaly Detection and Why it is Important for your Business?
When you hear the word “Anomaly,” what does it mean to you in the common sense of the term? Well, it is something that deviates from the standard and set norms, isn’t it? For instance, if a flock of birds is…
Wondering as to How to Calculate your Customer Lifetime Value? You can do so in Five Simple Steps!
For every growing company, the customer lifetime value (CLV) is one of the most crucial metrics. By weighing the CLV against the cost of customer acquisition (CAC), businesses can determine the time it takes them to recover the investments they make…
Data Quality Assessment is Crucial for your Company’s Health. Here’s Why!
Looking around us today, would it be really shocking to say that data is the new currency of the 21st century? As the wave of digitization sweeps across the world, every sector of the industry is leveraging data to reap its…
Boost your Customer Lifetime Value with Machine Learning!
In simple words, the customer lifetime value (CLV) is an estimate of the net profits that a company can earn from a customer throughout his/her relationship lifecycle with the brand Marketers can calculate customer lifetime value using Machine Learning to figure…
If You're not Focusing on Customer Lifetime Value, you're Missing out on Crucial Business Opportunities!
To measure the success of a business, marketers often track and measure a few key metrics like website traffic, sales revenue, profit margin, and so on. However, one metric that is often overlooked is the customer lifetime value or CLV. Customer…