It’s the goal of every organization to see their business become successful. That said, understanding customer behavior deeply is one of the elements you can leverage for increased business success.
In this video tutorial, I am going to demonstrate how you can work out how many days it has been since a customer last purchased from you.
This is very important from a sales, marketing, and promotional point of view because gaining such insight can help you strategize around your marketing initiatives.
For instance, if a customer buys from you every two weeks, you can use email marketing strategies to send offers at times which will most likely lead to a sale and ultimately increase your revenue.
If you have a CRM system in place, you would want to know if a customer is actively buying from you. They might have gone to a competitor or they might be considering taking the business elsewhere. You want to know these things in real-time.
By understanding this metric and learning about your customer behavior, you are likely to make better decisions that will ultimately improve the sales and services you’ll be offering to your client base.
I’ll show you how to analytically think about this in Power BI. Plus, how to solve it, implement the right DAX formula, and then visualize it in a compelling way.
This video shows just one way to predict customer behavior. To learn other business analytics techniques that you can utilize, check out the module below from Enterprise DNA Online.
All the best!
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