Problem: As marketing budgets grow in size and influence, it’s increasingly important that companies use them wisely to engage customers. Organizations with high-performing marketing teams are not strangers to data and the value it brings to their strategy. While descriptive analytics can be helpful, marketing strategies using data science drive better results.
Solution: This dashboard looks at data from a big box hardware store. The goods and services provided by this example company are as varied and diverse as the clientele they serve. As this company thinks about how to market to their customer base, there’s a lot to consider. How should the marketing approach shift based on customer profiles? Are customers contractors or ‘do it yourselfers’? Are they from large or small families? Do they have a high or low household income?
To help marketing teams understand this type of customer response, this dashboard reveals the results of two data science models that segment customers into four groups and predicts the revenue of each group. This helps marketers understand what kind of marketing campaigns to run and when to run them for different customer groups.
Result: These trends illustrate spend fluctuations for the customer groups and predicts how these trends will continue. This insight helps marketing teams determine when to drive marketing campaigns that produce the largest returns for the business.