Japanese automobile giant, market leader in hybrid electric vehicles
Problem Statement
- Huge customer base (45M+), need to target existing customer for another vehicle purchase
- Cost of retention is lesser than cost of new customer acquisition, how to effectively retain customer
Solution Approach
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Data Input
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Model Dataset
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Dynamic K-means clustering to identify vehicle clusters with similar patterns
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Lasso Regression & Multivariate Adaptive Regression
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Vehicles category based recommendation
Business Impact
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30% reduction in email communications/campaigns for the same period with higher conversion from earlier campaigns
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Increase in revenue through demographic base segmentation
Critical Success Factors
- Customer Management
- Identification of key product opportunities
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