Demand Forecasting, AI & Customer Segmentation
Closer Consulting
A Data Science company specialized in Business Intelligence, Data Engineering and Artificial Intelligence.
Article
Demand Forecasting: The Power of Now
?? The pandemic has propelled businesses into a new reality where consumers demand immediate answers and prefer companies that can quickly respond to their preferences. In this ever-changing landscape, adaptability is critical to survival. Although the future may seem uncertain, it is crucial to navigate through it strategically.
?? Demand forecasting should be a priority for organizations aiming for operational efficiency, risk management, and financial success. By utilizing forecasting models, businesses can optimize planning, minimize losses, understand customer needs, and gain a competitive advantage.
?? Companies that embrace intelligent forecasting techniques, such as Data Science, Big Data, and Artificial Intelligence, are empowered with valuable insights to challenge complexity. Investing in these tools and knowledge leads to transformation and renewal, as the cost of inaction is always more significant than the cost of making mistakes.
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Customer Segmentation for Marketing Campaigns?
??? A worldwide automotive corporation had an extensive but incomplete customer database which wasn't correctly used in its marketing strategy.?
?? Since the type of brand's vehicles fluctuates widely, from utility to luxury cars, it was essential to analyze the customer database, fill in the missing data, and segment according to their profile and buying potential per car type.?
? Thus, Closer developed a data-driven approach, enabling an efficient marketing strategy for each customer cluster with a product/action recommendation tool.?
?? As a result, the automotive company increased sales, profit and customer loyalty while decreasing the customer cost of acquisition, churn rate and marketing communication costs.?
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