Previously, Jason, Jon, and Jim discussed the unique paths and experiences in their career that brought them into the Digital Analytics field. They discuss the advice they would give to those about to enter college and those about to start their careers and who are interested analytics. They talk about the experiences that have played a significant role in getting them to the point they are today and what they have learned along the way.
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The Customer as the Asset with Anthony Choe, Founder at Provenance
There is no such thing as an average customer. While it’s easy to say the customer is the most important asset, few have spent time quantifying what that truly means. Anthony Choe is one of those few. As Founder at Provenance, a progressive consumer private equity firm, Anthony uses Customer Lifetime Value as the primary lens for evaluating businesses. He explains how predictive CLV provides precision and allows both the investor and company to have a singular focus on the customer among all the data noise. With the amount of data and marketing tools available ever increasing, he believes CLV principles are timeless. Optimizing around CLV will always be the best answer, regardless of channel, regardless of the marketing message, regardless of shifting landscapes.
AI with Ash Dhupar, Chief Analytics Officer at Publishers Clearing House
The charm of AI may have been kept alive by both the science community and Hollywood, but Ash Dhupar knows its real-world application can have a huge impact on the bottom line. As Chief Analytics Officer at Publishers Clearing House, he and his team utilize 180 algorithms to predict LTV with a 2-3% accuracy. By adding the laser focus of CLV as an objective, the application of machine learning and AI techniques help to point to the most powerful marketing channels by attribution, better optimizing marketing dollars.
How AI Is Making Prediction Cheaper
Avi Goldfarb, a professor at the University of Toronto’s Rotman School of Management, explains the economics of machine learning, a branch of artificial intelligence that makes predictions. He says as prediction gets cheaper and better, machines are going to be doing more of it. That means businesses — and individual workers — need to figure out how to take advantage of the technology to stay competitive. Goldfarb is the coauthor of the book “Prediction Machines: The Simple Economics of Artificial Intelligence.”
from Harvard IdeaCast…
Calculating CLV with Artem Mariychin of Zodiac Metrics
What is the fundamental unit of value to a business? It turns out it’s the customer. Artem Mariychin, CEO and Co-Founder of Zodiac Metrics, joins host Allison Hartsoe to explain why companies should care about calculating Customer Lifetime Value (CLV), how to establish an accurate CLV formula model, and the positive business impact organizations can drive. Artem outlines how through having the right information and a data-driven approach to the customer, companies are able to increase their ROI and make better business decisions.
from Ambition Data…