AI/ML Based (CLV) Models to Deliver Actionable Insights for Retail
- The client is one of the top US-based luxury fashion retailers, having 6 million+ customers and 4.5 billion+ USD in annual sales.
- The client wanted to apply a systematic data-driven approach demonstrating the future value business can generate from their sales and marketing initiatives.
Xoriant Solution | Key Contributions
- Developing a consistent methodology for both customer segmentation and customer lifetime value prediction.
- Pre-processing 60 million transactions with 6 million unique customers and applying clustering techniques to create the optimal number of customer segments.
- Streamlined client’s Customer Segmentation methodology aiding in better understanding of the end-customer behavior.
- Optimized client’s ability to target customers for marketing campaigns with a higher hit rate.