AI Use Case
Model and predict customer lifetime value
Determine the likely lifetime value of customers to allow better customer management and engagement to increase revenues. It will allow a firm to better target its marketing resources to ensure that customer acquisition costs are managed appropriately by relevant segment.
Operational Support - Sales forecasting,Operational Support - Demand forecasting,Operational Support - Production forecasting
ASOS.com~ASOS.com researchers demonstrate improved customer lifetime value predictions using neural networks and automatic feature selection but do not advise implementation due to increased cost
Structured / Semi-structured
Machine Learning (ML),Model Architecture - Deep Neural Networks,Algorithm - Embedding,Model Architecture - Recurrent Neural Network (RNN),Model - Unsupervised Learning,Algorithm - Random Forest