Next best action

When businesses consider how to interact with a given customer, they have many choices of the next action to take.  Identifying the best of these actions for each customer can drive improved customer satisfaction, ensure the maximum likelihood of a sale occurring and maximize the profit generated by this customer.  This allows the company to respond directly to the customer instead of following a generic script and potentially alienating the customer.

Overview

Correctly identifying the best action to next take with a customer is key to ensuring high customer satisfaction and response to these actions.

TARGET

Which action should next be taken.

Challenge

Building the training data requires merging information from the CRM database to understand the current state of the customer and the sales activity for that customer to the marketing database to understand what offers the customer has seen, the frequency of the communication and the customer’s response to that contact. All this data needs to be cleaned, joined and transformed into valuable ML features before going into model training. This pre-modeling prep process can be frustrating and time consuming. We are here to help.

Modeling techniques and libraries

Machine learning analysis

Build machine learning models to predict the segment as a function of the independent variables. Use model interpretability packages to evaluate the impact of the independent variables on the prediction.

Packages:
  • Sklearn
  • ELI5
  • LIME
  • SHAP

Data features

# of Content Downloads
Marketing DB
Data Type
Continuous
Target
No
Yes
# of E-mails Opened
Marketing DB
Data Type
Continuous
Target
No
Yes
# of Phone Calls
Marketing DB
Data Type
Continuous
Target
No
Yes
# of Webinars Attended
Marketing DB
Data Type
Continuous
Target
No
Yes
# of Webinars Registered
Marketing DB
Data Type
Continuous
Target
No
Yes
# of in-person events attended
Marketing DB
Data Type
Continuous
Target
No
Yes
Ideal Next Interaction
CRM
Data Type
Categorical
Target
No
Yes
Interactions with Sales
CRM
Data Type
Continuous
Target
No
Yes
Most Recent Interaction
CRM
Data Type
Categorical
Target
No
Yes
Opportunity Stage
CRM
Data Type
Categorical
Target
No
Yes
Opportunity Stage Progression in Days
CRM
Data Type
Continuous
Target
No
Yes
Visit to Blog?
Web Analytics DB
Data Type
Binary
Target
No
Yes

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