India's largest platform and marketplace for GCCs & AI

Sign in

India's largest platform and marketplace for GCCs & AI

3AI Digital Library

Prospective Customer & Response Using Classification Modelling

3AI October 27, 2020

A Leading Retail organization

Problem Statement

  • Find look-a-likes of the current successful customer and sell aggressively to qualified leads
  • Identifying responders to marketing campaigns and extend offers to responders

Solution Approach

  • Multisource input data
  • Lasso Regression &  Multivariate Adaptive Regression

  • R Studio & R Shiny


Business Impact

  • 20% improvement in response with respect to existing campaigns

  • Out sample prediction accuracy at 81% along with customer classification model.

Critical Success Factors

  • Value & Risk Based classification
  • Geographical distribution of projects

    3AI Trending Articles

  • Crossing the AI Adoption Chasm

    Featured Article: Author: Abhishek Tandon, Director, Customer Success for Fosfor, LTIMindtree Chapter 1: The chasm between AI outcomes and business value The message is loud and clear. AI projects are not seeing the level of adoption and ROI that was expected of them over the last decade. But there is no doubt that AI Rules. […]

  • Emerging role of Generative AI for Businesses

    Featured Article: Author: Rajan Gupta, VP & Head of Research & Analytics, Analyttica Datalab Artificial intelligence (AI) has revolutionized the way businesses operate, and Generative AI (GAI) is quickly becoming a hot topic in this field. Generative AI is the technology behind applications that can produce new content, such as images, sounds, and even text. […]

  • Unlocking HR Potential: The Transformative Benefits of Generative AI in Human Resources

    Featured Article: Author: Vipin Verma, Orange Business Services Introduction to Generative AI in Human Resources Human Resources (HR) is a critical function in any organization, responsible for managing and developing the most valuable asset: the workforce. With the advancements in technology, particularly in the field of Artificial Intelligence (AI), HR has the opportunity to unlock […]

  • Three Avenues to foster an edge to win in Digital Business

    Digital business is the creation of new business designs by blurring the digital and physical worlds. It promises an unprecedented convergence of people, businesses and things that changes existing business models and creates new revenue opportunities. Executing digital business will require a digital platform that evolves as business opportunities and threats change. Also, to enable this, […]