Customer Segmentation
[wtm_use_case_cats] The goal of segmenting customers is to decide how to relate to customers in each segment in order to maximize the value of each customer to the business. Types of Customer Segmentation in the industry : CLV Focused Customer Segmentation, Segment via Cluster Analysis, RFM (Recency, Frequency, Monetary ) Segmentation Benefits for the company […]
Customer Lifetime Value
[wtm_use_case_cats] A Customer Lifetime Value offers a discounted value of the future revenues that are contributed by the customer. Essentially, it is the amount of money that they will spend on your products and services after the expenses of acquiring them as a customer. There are numerous types of CLV. The two most popular forms […]
Risk Modeling/ Credit Scoring
[wtm_use_case_cats] This technology is often used in fast lending for small amounts, when registering consumer express loans in real stores by credit companies, in the business of mobile operators or insurance companies. Scoring is the assignment of points by filling out a certain questionnaire developed by credit risk assessors. Based on the results of the […]
Fraud Detection
[wtm_use_case_cats] Banking organizations use it to monitor a considerable amount of transaction parameters at once for every account in real time. The algorithm examines historical payment data and analyses every cardholder’s action. Fraud detection involves monitoring and analysis of the user activity to find any usual or malicious pattern. Such models can be highly prominent […]
Location of New Stores – Location Analysis
[wtm_use_case_cats] An analysis of zip codes and demographic information gives a basis for understanding the potential of the market. And competitor markets are also taken into consideration. Additionally, a retailers network analysis is performed. The algorithm gives the best possible output after taking into consideration all of these points Benefits for the company Before a […]
Improve Customer Service
[wtm_use_case_cats] Big data analytics offers businesses the potential to enhance their processes so that customers enjoy transacting online. Automating the sales interaction, lead generation, customer requests using AI Bot can ease the customer journey/experience with the business and prove to be an efficient way of keeping the customer engaged and costs low for the company. […]
Powering Augmented Reality
[wtm_use_case_cats] Many multinational companies, has been experimenting with new technologies to implement augmented reality in the shopping experience. Customers can choose clothes and see what they look like without actually wearing them. This helps in making decisions faster and saves the time and effort of customers. Feasability Low Type of expertise/ AI domain Artificial Intelligence […]
Warranty Analytics
[wtm_use_case_cats] E-commerce stores usually provide warranties for products that allow customers to deal with any problems at no cost during the warranty period. Analytics relating to warranty claims can help to determine the quality and reliability of products, problems with products, returns and even to keep a check on any fraudulent activity.Retailers and manufacturers can […]
Customer Lifetime Value Prediction (LTV)
[wtm_use_case_cats] Customer lifetime value is the total value of the customers profit to the company over the entire “lifetime” (usually 12-24 months). Essentially, it is the amount of money that they will spend on your products and services after the expenses of acquiring them as a customer. There are numerous types of CLV. The two […]
Fraud Detection
[wtm_use_case_cats] A fraud detection system helps companies to decrease unidentified transactions and increase company revenue and brand value. Many different forms of fraud exists in E-commerce businesses such as Interception Fraud, Chargeback Fraud, Payment Fraud, Promotion Abuse or Sign-up Fraud.We can detect suspicious behavior by using data science techniques like matching algorithms, anomalies detection, classification […]