Advanced predictive analytics
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- With some simple Excel hacks, you can do basic machine learning
- These are good techniques to familiarize yourself with, and they offer an idea of what’s possible with more digging.
- Linear Regression: Use when you want to forecast a future number like, for example, total dollars spent or the number of logins to expect in the next six months.
- Logistic Regression: Use this to solve an either/or event, like either a member renews or they don’t. This helps with identifying the probability that someone won’t renew.
- Clustering: Look at shared behaviors across all metrics and segment users/members based on how they behave across multiple metrics.
Open or download the Predicting Member Churn Spreadsheet to view the Advanced tab.
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