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Take the Shortcut: Business Solutions Available for Demand Forecasting & RFM Segmentation

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Dataiker
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In a new series, the Business Solutions team here at Dataiku will periodically put the spotlight on the different ready-to-use projects and analytical apps available to Dataiku users. To kick things off, we’ve gathered two of our solutions that were created to accelerate the work of sales and marketing teams. While all businesses can use them, these particular solutions are especially relevant to ones in the retail industry.

Demand forecasting is an unmissable tool for teams that desire more visibility on the future buying demand from customers. Key for sales departments and marketing teams who aim to optimize campaigns and pricing strategies, it is also a strategic asset to pilot the supply chain.

RFM Segmentation, on the other hand, is a foundational project that aims to understand the nature of your customer base. It can be used by any marketing team interested in finding the right way to interact with its customers and grow their buying propensity.

Before diving into these two topics, however, a word of introduction on Dataiku Business Solutions, what they’re about, and how you can use them to achieve real-world business value!

Introducing Dataiku Business Solutions

Business Solutions are ready-to-use Dataiku projects and analytical apps that accelerate the way to achieving advanced or foundational industry-specific use cases within your organization. They are an operational shortcut to gaining real-world business value. Taking advantage of Dataiku’s core features, they are also built to be fully customizable and entirely editable.

Business Solutions already support the acceleration of AI journeys of various functions from different industries, including financial services, retail and CPG, health and pharma, and even manufacturing. To find out more, you can check them out on the Dataiku website or directly through your Dataiku instance.

Business Solutions of the Month

Demand Forecasting

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As its name implies, using Demand Forecasting, you can forecast the future demand of your products at your preferred granularity. In addition to defining your time horizon, you can use it to look into the future to optimize stock allocation, pricing strategies, and more.

What is included in the solution:

✓ An interactive webapp: Dynamically display the predictions performed by the demand forecast model with your chosen granularity.

Forecast model evaluation: Compute the model error based on the difference between predicted and actual values.

Forecast model interpretation: Assess your model's most important variables and understand the relationship between your input features and your model predictions.

Seasonal clustering: Take into account and assess the product/services seasonality and learn seasonal clusters.

Learn more by watching the video below, and continue reading to discover our next solution of the month.

RFM Segmentation

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Using our RFM Segmentation solution, you can segment your customers depending on their purchasing behavior. In addition to other benefits, it allows you to have more tailored interactions with them.

What is included in the solution:

Assess your consumer RFM for your reference period of choice: use it to see how they evolved over time in the past (propagation), until your reference period.

A webapp including:

Segments explorer: focused on the RFM scores, on which the segments are computed.

Selection of what matters: either select customers from the reference period (as defined in the Dataiku App), or the most recent ones, or the inactive ones.

Treemap exploration strategy: define your exploration strategy (analyze segments on whole data / by monetary value relative importance / split by monetary value).

See the solution in action by watching the video below!

Requirements to Use Dataiku Business Solutions

If you’re interested in using a Dataiku Business Solution, the requirements are simple. You must have relevant business data to feed the solution, as well as use Dataiku 9 or a later version. All other technical requirements and useful code environments can be found in our Knowledge Base.

Would you like to try one of the Dataiku Business Solutions featured this month? Let us know in the comments!

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