Marketing
- Total spend on marketing by time period
- Viewing marketing as a growth center instead of a cost center
- Improving understanding of each department’s organizations goal
- Identify the cost of acquisition of a customer
- Estimate of how much your new customers are costing you
- Measure the revenue impact of a marketing campaign
- Track the different sources of lead generation
- Identify the most effective source and plan campaigns accordingly
- Optimize your most profitable sources
- Find out the Return on Investment on the marketing spend
- See how different sources affects the ROI
- Justify marketing spend and budget allocation for ongoing and future campaigns
- Recognize leads that has a high probability of turning into a customer
- Figure out what should be the right amount of bid for various segments of paid traffic
- Qualified leads saves both time and resources
Recommendation Engine
- Measure how many of the actual positive instances we were able to correctly predict
- Accuracy of the model
- Shows the actual and predicted labels from a classification problem
- How accurately The engine classifies the data
- Best performing model
- Factors affecting the accuracy
- Ranks the list of items based on their relevance in a particular task
- Quality of ranked search results over a set of typical search queries
- Determines the best model by rank
- Ratio of users for which the correct choices is included in the recommendation list of length
- High Accuracy implies high chances of correct recommendation
- Hit rate may be measured for the whole sales force or by sales region
- Ratio of correct answer to all answer
- Measures the accuracy of recommendations
- Regions to be optimised
