Predictions & Recommendations
The predictions & recommendation model generates a set of recommendations that are predicted to be useful. Recommendations are made based on previous purchases and customers with similar buying habits.
Predictions offer the following benefits to your business
Increases the effectiveness of a campaign
Increases revenue
Easy-to-understand dashboards
Ready-to-use templates
The following predefined templates are available in the predictions module.
Purchase Propensity
The goal of Purchase Prediction is to identify customers who are most likely to make a purchase and adjust mar- keting budgets across segments accordingly to improve overall marketing performance.
Propensity to respond to an offer
It helps in predicting the probability of a response by a cus- tomer. It is useful when you are deciding whether you should or should not send the offer to particular customers.
Churn Propensity
The objective of the “Churn prediction” is to identify con- sumers who are likely to churn and convert them before they do. The prediction determines whether a customer who purchased something during a specified prior period is also likely to purchase something during a specified future period. A consumer is considered to have a high probability of churning if they are unlikely to make a pur- chase in the defined future period.
Custom Predictions
The goal of Purchase Prediction is to identify custom- ers who are most likely to make a purchase and adjust marketing budgets across segments accordingly to im- prove overall marketing performance.
Propensity to open an offer email
Indicates the probability of a customer opening an email. It proves useful when you’re deciding whether or not to send an email to a specific customer seg- ment. This is significant since unopened emails have a lower likelihood of being delivered in the future.
