Popular Project Missions
Some typical first projects include:
Convert First-Time Visitors to Repeat
We build a bounce curve and identify which particular customers need a nudge to make the all-important second purchase, and also exactly when to do that. (Often the nudge is a very attractive offer.)
Drive Lifetime Value
Lifetime value is, of course, a function of purchase frequency plus product range plus retention, but attempting to increase product range usually does not work early in the customer lifecycle. Rule of thumb: Get three purchases first before trying to extend the range. We’re very good at this.
A typical Year One achievement would be 18% increase in purchase frequency.
Other popular missions early on include:
- Protect the core
- Lost customer win-back
- Campaign optimization (many others)
You Already Have an Analytics Team In-House? No Problem
Some of our clients already have dozens of people on staff in various analytics roles. So why would they hire us then?
Well, sometimes in-house teams get stretched working on various urgent, tactical missions, and find that they don’t have time or resources to test the waters on Big Ideas that surface internally from time to time. They want to innovate, but can’t justify a full-blown innovation lab on premise. Besides, there’s hiring risk (and also execution risk) for brands that find themselves on the leading edge of data science. So, we often fit it there.
Cartesian doesn’t disturb the existing analytics ecosystem. In fact, we support it, helping senior leadership to do promising or strategic projects, where there is no bandwidth in house. And we do those projects quickly, with very low execution risk.
With Cartesian DataSciences, you can get the equivalent of about 3-4 data scientists from us (under supervision of a Ph.D.) for about the same cost as one additional local hire-and all those people hit the ground running from Day One. If your goals are taking too long to get done, we can be a great option to speed that up.