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With data modeling, it is possible to predict the behavior of your customer. Data regarding customer behavior is already existing in the various company databases, however it is not in a format that can be used to draw any conclusions from directly.
With data modeling, customer responses (eg: Revenue or Purchase) is mathematically compared to actions that the company has taken in the past and then also evaluated against the overall market conditions and then the behaviors of the customers are predicted. Then depending the conditions that are happening in the future, proactive actions can be taken to maximize company performance by understanding the customer better. Data modeling is typically done using big data analytics. But even with smaller data sets which are not big data analhytics, data modeling is performed.
The most representative form of modeling equation is given by :
We help organizations understand their marketing mix, optimize spends, identify effective promotions channels, quantify impact and maximize ROI. Listed below are some of the categories of modeling.
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