𝗖𝗵𝗮𝘁 𝗚𝗣𝗧 𝗮𝗻𝗱 𝗖𝗼𝗱𝗲 𝗜𝗻𝘁𝗲𝗿𝗽𝗿𝗲𝘁𝗲𝗿 𝗰𝗮𝗻’𝘁 𝗱𝗼 𝗲𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴 𝗳𝗼𝗿 𝗱𝗮𝘁𝗮 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀.
I realise that saying this might mean that I’ll have to hand in both my LinkedIn thinkfluencer and AI fanboy badges…
But having worked with a couple of data scientists on projects with AWA digital I’ve seen the capabilities of working with the right skills. When you have someone who has the ability to manipulate data, you can do some fascinating stuff. Google Analytics is great, but it’s hard/impossible to get years long understanding of a specific customer and how they shop over time.
I’ve been doing some work with some backend purchasing data.
Having simple data like:
-which platform they bought on
– what product type they purchased
– delivery methods
– the purchase amount
gives you a really rich amount of data that you can mine.
There are lots of very cool things to look at, but 𝗥𝗙𝗠 analysis by itself is worth the effort.
RFM is:
Recency- how recently they last bought
Frequency- how frequently they bought and
Monetary – how much they spent.
There are some classic ways of quantifying those elements to give you profiles and then once you’ve got these profiles, you can understand your audience in a lot more detail. Add some segmentation and it’s even richer.
The “so what?” behind all of that is besides understanding your customer you can look at how to personalise and treat your customers according to their background and behaviour, not treat everyone the same.
Unshackle yourself from GPT, befriend a data scientist and win 🙂
Brendan McNulty 