Company A developed a data analytics solution called purchasing power index, an estimate of the likelihood of a customer making a purchase in future. It involved predicting economic ability through analysis of customers’ purchase information and demographic information, and predicting how many purchases they will make in the company’s other shopping channels. It was a result of the idea that rich customers actively shop everywhere.
At first glance, it is very intriguing. Would it not raise sales significantly if we identify VIP customers using a magic box and do an intensive cross-sell promotion targeting them? The purchasing power solution made a tremendous impact on the industry and grabbed prizes of various data ...
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