Data mining projects typically start off with general client inquiries and then zoom in on specifics of interest. For example, a company may want to know how many customers it has, or the market penetration of its products.
Before starting a Knowledge Discovery, we make sure we understand your business, your challenges and where you are going to ensure that we deliver you the insights you’re looking for. Knowledge Discovery projects are fairly simple from an analytical perspective – the biggest component is accessing and cleaning your data, and from there we look at areas such as the following:
- Number of unique customers over time / new customers over time
- Lost customers over time
- Product holdings and what products are commonly associated with each other
- Market penetration
- Customer origins (if known)
- Distribution of spend, value, profit - any KPI indictors that are known
- Patterns/trends/changes/duplicates in the customer base
- Campaign reporting and channel analysis
- Geographic penetration - GIS maps/tables
The final output is a comprehensive analysis of the customer base, either at a point in time or over a period of time. The results of this analysis will be presented to and shared with you in an electronic format that can be easily shared within your company and used to answer simple queries.