This is the third article of article series Getting started with the top eCommerce use cases. Customer Lifetime Value Many researches have shown that cost for acquiring a new customer is higher than the cost of retention of an existing customer which makes Customer Lifetime Value (CLV or LTV) one of the most important KPI’s. […]
This is the second article of article series Getting started with the top eCommerce use cases. If you are interested in reading the first article you can find it here. What are Recommendation Engines? Recommendation engines are the automated systems which helps select out similar things whenever a user selects something online. Be it Netflix, […]
This is the first article of article series Getting started with the top eCommerce use cases. What is Multi-touch attribution? Customers shopping behavior has changed drastically when it comes to online shopping, as nowadays, customer likes to do a thorough market research about a product before making a purchase. This makes it really hard for […]
Nowadays, almost all the projects in eCommerce companies are data-dependent and everyone wants to leverage data science techniques to mine as much information as they can from that data. From tracking their customer’s shopping behavior to recommending them what to buy, from finding new leads for their market to calculating their lifetime value, from improving […]
Simple Linear Regression Being in the field of data science, we all are familiar with at least some of the measures shown in figure 1.1 (generated in python using statsmodels). But do we really understand how these measures are being calculated? or what is the math behind these measures? In this article, I hope that […]
Introduced in 1996, the cross-industry standard process for data mining (CRISP-DM) became the most common procedure for all data mining projects. This method consists of six phases: Business understanding, Data understanding, Data preparation, Modeling, Evaluation and Deployment (see Figure 1). It is being used not just as a reference manual but as a user guide […]
The process in the semiconductor industry is highly complicated and is normally under consistent observation via the monitoring of the signals coming from several sensors. Thus, it is important for the organization to detect the fault in the sensor as quickly as possible. There are existing traditional statistical based techniques however modern semiconductor industries have […]
One of the applications of text mining is sentiment analysis. Most of the data is getting generated in textual format and in the past few years, people are talking more about NLP. Improvement is a continuous process and many product based companies leverage these text mining techniques to examine the sentiments of the customers to […]
