By: Eric Siegel, Founder, Predictive Analytics World for Business
In anticipation of his upcoming conference presentation at Predictive Analytics World for Business Las Vegas, May 31-June 4, 2020, we asked Gil Reich, Data Developer at Wix, a few questions about their deployment of predictive analytics. Catch a glimpse of his presentation, Retaining Customers with Churn Models at Wix , and see what’s in store at the PAW Business conference in Las Vegas.
Q: In your work with predictive analytics, what behavior or outcome do your models predict?
A: We predict how likely each user is to cancel their subscription.
Q: How does predictive analytics deliver value at your organization – what is one specific way in which it actively drives decisions or operations?
A: We reach out to our most at-risk users, to figure out how we can help them. We also started considering likelihood to churn in our support queuing algorithm.
Q: Can you describe a quantitative result, such as the predictive lift of your model or the ROI of an analytics initiative?
A: We got our lift over 3 to find the users to whom we most need to reach out. That is, we gave our product managers lists of users who were three times more likely to cancel than our average user.
Q: What surprising discovery or insight have you unearthed in your data?
A: We found a lot of weird uses of our system as we tracked down outliers and as we dove into error analysis. The people that our model got most wrong often taught us a lot about some of our most creative users, and how they were using (or abusing) our product.
Q: Sneak preview: Please tell us a take-away that you will provide during your talk at Predictive Analytics World.
A: Get an end-to-end model live and serving customers as quickly as you can. The software development industry became a lot more effective and efficient when it committed to agile development ideas. Data science and big data can be fascinating. Don’t get lost in it. Always focus on your customer’s needs, and on real-world deliverables.
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Don’t miss Gil’s presentation, Retaining Customers with Churn Models at Wix, at PAW Business on Wednesday, June 3, 2020 from 11:45 AM to 12:05 PM. Click here to register for attendance.
By: Eric Siegel, Founder, Predictive Analytics World for Business
Credit: Google News
