E-commerce Segmentation and Journey Prediction
Goal is to Utilize customer segmentation to generate a Sequence model that predicts future trends within each identified segment.
1. Project Architecture and Control flow
2. E-Commerce Customer Segmentation
Customer segmentation is the process of grouping customers according to how and why they buy. It allows organizations to create more specific sales and marketing strategies for customer groups. Customer segmentation is important because it helps businesses deliver more relevant customer experiences, understand the needs and motivations of customers, and launch more impactful and cost-effective campaigns.
Code in below notebook
3. Journey Prediction
Customer journey prediction refers to the process of using data and analytics to anticipate the path or steps that a customer may take in interacting with a business, from the initial awareness stage to making a purchase decision, and beyond. It involves predicting the customer’s behavior and needs at each touchpoint in order to optimize the customer experience and improve business outcomes.
Each customer has a unique journey in the segments. The starting point can be anything and the ending point can be anything. According to our data there are various combinations a customer can take.
Predicting customer journeys in the defined segments is important because we can use the insights to improve customer experience, optimize business, enhance marketing and sales strategy, and easily detect customer churn.
