Estimates vary by study and industry, but experts consistently agree: customer acquisition is more expensive than customer retention. In fact, customer acquisition can run anywhere from 5 to 25 times more expensive, and research indicates that increasing retention by 5% can increase profits by 25 to 95%. For traditional financial institutions (FIs), the introduction of new competition… Continue reading Churn is Eating Away at Your Profitability. Machine Learning Can Help.
Tag: AI & Machine Learning
Essential Python Libraries for Machine Learning Projects
Are you just starting out with your first Machine Learning project and already asking yourself: “Which Python libraries are needed for Machine Learning?”. Getting started with the Python ecosystem and not getting lost on your way can be a daunting task, and we know it. But we’re here to help and answer your question. We are… Continue reading Essential Python Libraries for Machine Learning Projects
Three Ways Venture Capital Firms Add Value Beyond A Check
It’s a tough time to be in venture capital. Years ago, VC organizations were the only place for start-ups to get the funding they needed to grow. That’s started to change. In 2018, regulation crowdfunding became more significant in terms of speed to close and funding. For example, Venture Beat found that 60% of start-ups are successful… Continue reading Three Ways Venture Capital Firms Add Value Beyond A Check
Why Machine Learning is Central to Reverse Supply Chain 2.0
E-commerce growth and a worldwide pandemic have brought to light the inefficiencies in the modern supply chain, especially the return process. The current return process is costly, inefficient, and wasteful. The following article explores how enabling efficient returns through reverse supply chain development can bring savings and operational improvements. Most companies are failing to get… Continue reading Why Machine Learning is Central to Reverse Supply Chain 2.0
Make Machine Learning Work for Your Company: An Overview
“Machine learning” is hot. Apple is “building a machine learning system to rule them all.” YouTube uses machine learning to remove objectionable content, while telecom empires apply ML algorithms for predictive maintenance and improving network reliability. And, of course, there are plenty of TedTalks. For all the hype around machine learning, it still seems like a distant and futuristic concept… Continue reading Make Machine Learning Work for Your Company: An Overview
Do you recommend Recommendation Engines?
In business, the needle in a haystack problem is a constant challenge. Recommendation Engines are here to help tackle that challenge. In e-commerce and retail, you offer hundreds or thousands of products. Which is the right product for your customers? In sales and marketing, you have a large number of prospects in your pipeline. Yet,… Continue reading Do you recommend Recommendation Engines?
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