When you analyze your customer base, you can create predictive models that project customer behavior and identify the customers who are most likely to buy. These models can be used to:
- Deliver more effective cross-selling campaigns
- Create up-sell recommendations
- Identify customers who are more likely to buy specific products or brands
- Predict a propensity to engage, convert, churn or unsubscribe
WiseGuys does data mining to analyze your customer data and create a model of your customers’ buying behavior.
We then test the model and deploy it, ensuring that it is integrated with your order management system and other marketing databases and tools.
The statistical modeling tool we use is ModelMAX. We discovered this software in 2013, during a grad school exercise at the Johns Hopkins University Carey School of Business. It is a simple yet powerful application that is ideal for marketing analytics.
With ModelMAX we can:
- Build both outstanding and reliable predictive and descriptive models without statistical expertise or specialized skills.
- Connect directly to and model directly from all your data sources including SAS datasets.
- Explore possibilities with convenient “what-if” model iterations.
- Gain insight into the relationships among customers, product lines, and purchasing behaviors.
- Complete modeling projects in a fraction of the time needed compared to other methods that require separate data preparation and statistical steps.
- Validate predictive models automatically using multiple, independent validation data sets.
- Deploy predictive and descriptive analytics without developing any custom data preparation or data transformation routines.
With a solid and reliable model of your customers’ buying behavior, you can target customers with more effective marketing campaigns, improve your marketing processes, and spend marketing dollars more efficiently.
