Customer Lifetime Value
Quantify the customers that are going to generate more sales and allocate marketing spend based on the financial lifetime value of each customer and prospect.
Distinguish between customers based on business value
It’s not practical to treat every customer exactly the same. Each one can and should receive different marketing messages, different offers, even different levels of service. To maximize profit for your business, you need to know which customers represent the most in terms of future revenues and profit. Data science can do exactly this. Then, you can optimize your customer relationship management efforts in a way that ensures the best possible business outcome.