Sunday 14:15–15:00 in Tower Suite 2

Using Survival Analysis to understand customer retention

Lorna Brightmore

Audience level:
Intermediate

Description

In this talk, I'll show how we use techniques in Survival Analysis and Machine Learning to predict the time a customer (and their dog) will keep ordering and enjoying our products. I'll also show how this is an important part of understanding the Lifetime Value of a customer, which is arguably the most important metric in any subscription business

Abstract

Survival Analysis aims to predict the time until a particular event happens. In medical research, this could be the time until a person dies after a certain illness, but in the world of subscription businesses, this is the time until a customer stops wanting your product. In this talk, I'll show how we use techniques in Survival Analysis and Machine Learning to predict the time a customer (and their dog) will keep ordering our products. I'll also show how this is an important part of understanding the Lifetime Value of a customer, which is arguably the most important metric in any subscription business.

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