Creating predictions
This section will help you create your first prediction. You can also check out practical use cases for this feature.
You can either make a prediction from scratch or make use of a simplified process of creating a prediction based on predefined scenarios; the following business objectives and variants are covered:
| Business objective | Variant |
|---|---|
| Reduce churn | - Find customers who are likely to leave; - Find customers who are likely to unsubscribe |
| Identify new potential customers | Find best matching customers for an annual/seasonal campaign |
| Predict buying behavior | - Find customers who will buy a specific item, brand, or category; - Find customers who will buy any item; - Find customers who will buy through a specific communication channel; - Find customers who will buy offline |
| Predict lifetime value | Find customers who are likely to generate the most value |
| Custom objective | - Find customers who belong to a class; - Find customers who generate the most value or take significant actions |
| Predict best items for customer | - Find best fit from brand, category or other attribute for a given customer; - Find the overall best item for a given customer |
Note: As a result of performing the steps in the Use predefined prediction form, a set of analyses will be created and available on the list of analyses (such as segmentations, expressions, and so on).
Important: Before you can use Predictions, you must enable them for your workspace. To do so, contact customer support. It usually takes several hours to initialize the Predictions module and perform necessary calculations.
