data science

A collection of 7 posts

Customer Lifetime Value

ecommerce

Customer Lifetime Value

One of the holy grail metrics for any business is Customer Lifetime Value (CLV, aka LTV). With sufficient data, you can place a dollar value for any of your customers, no matter what purchase funnel stage they are in, and consequently prioritize your actions based on it. The more data

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ecommerce

Ecom Data Series: What is in Shopify product data?

Part 2 of 3 on the most important tables in ecommerce Read part 1 here or part 3 here A customer journey is not complete without knowing the products the customer purchased along the way. Entire businesses are built on understanding customer tastes and inferring what kind of person they

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ecommerce

Ecom Data Series: What is in Shopify order data?

Order data is part 1 of a 3-part series on the most commonly used tables in ecommerce: Orders, Products, and Customers. We will be using Shopify’s data API as examples. Since most of the data platforms have similar structures, the analysis should apply to other platforms as well.Read

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ecommerce

Ecom Data Series: What is demand forecasting?

Black magic that has powered retail and logistics operations for generations. Understanding of past events to predict future sales 📈📊 is fundamental to retail and ecommerce operation optimization. Before you accurately measure your pricing and promotion effects, inventory planning feels like guesswork. Worse yet, if you falsely attribute the effects, it

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ecommerce

Ecom Data Series: What is RFM segmentation?

Simple, effective marketing segmentation that improves opens, clicks, and conversions Traditionally, marketers created segmentation based on demographics👨👩🐈👶. However, most ecommerce brands today prefer applying data science to develop behavioral segmentation based on purchase behaviors. For example, what products are they viewing/buying 🛒? What path(s) did they take to get

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ecommerce

Ecom Data Series: What is data science for ecommerce?

Data science is not accessible to mostIn this past year working as an entrepreneur, I’ve had the chance to work with many ecommerce stores large and small, as well as clients from the entertainment/finance industries. What I’ve found to be true is that the things I take

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data science

Crossing Your Data Science Chasm

Scenario — You’re an up-and-coming ecommerce/SaaS startup. You’ve got your site up, you’ve A/B tested your message, and you’ve got your SEO and social ad buy. You’ve got your email drip campaign and reminders. You also have basic BI reporting telling you channel traffic

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