Decision Support
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Recommend
❯Management - Market Intelligence
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Scope:
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Scope:
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Improved Customer Experience, Increase Revenues
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Management - Market Intelligence
For:
Product managers and Marketers.
Scope:
Growing active users for a music streaming service by identifying high-value customer behavior.
Goal:
Improved Customer Experience, Increase Revenues
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For:
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Goal:
Improved Customer Experience
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Management - Market Intelligence
For:
Product managers and Marketers.Goal:
Improved Customer Experience, Increase RevenuesProblem addressed
Market intelligence provides companies with insights regarding their target market, especially their customers' preferences, in order to plan the allocation of strategic resources. Acquiring data about customers is required for tailoring marketing messaging to specific targeted groups. Differentiating groups requires information about marketing touch points, purchasing behavior, and user interactions with the product in order to drive outcomes such as conversion, renewal, expansion, and advocacy.
Scope of use case
Growing active users for a music streaming service by identifying high-value customer behavior.
Description
Market intelligence is typically implemented using machine learning and big data analytics applied to large repositories of consumer behavior data. Cohort analysis and clustering is normally used to identify users with similar behavior, while predictive analytics is used to optimize metrics such as retention and customer lifetime value (CLV).
Leaf, a popular Latin American music streaming service, used Peak’s customer intelligence solution to grow their active user base by 97% in just four months1. Peak combined Leaf’s user data with ad platform and web scraped data. By applying clustering models to that data, Peak identified Leaf’s most valuable users, how they were acquired, and how they use the platform. Through use of dashboards, Leaf were then able to target users with the highest probability of becoming high value customers.
Raw Data
AI: Perceive
Machine Learning
AI: Understand
Optimize
Predict / Forecast
Recommend
AI: Act