As Covid-19 declined, a European multichannel retailer observed a decline in its online revenues, which caused alarm. But then they looked at the data a different way, focusing on transactions by individual customers.
As you analyze your firm’s revenues and profits, or as you make plans for the future, what’s your unit of analysis? A customer-base audit is a systematic review of the buying behavior of a firm’s customers using data captured by its transaction systems. The objective is to provide an understanding of how customers differ in their buying behavior and how their buying behavior evolves over time.
The starting point is a list of transactions for each customer . This will reside somewhere in your company’s operational IT system. How do we approach the task of gaining insight from such a customer-level summary? As we reflect on the various questions that are asked when leaders seriously engage with the idea of understanding the performance and health of their business using the customer as the atomic unit of revenue and profitability, five broad themes appear, which we call the five lenses of a customer-base audit.
The analyses that answer these questions are central to getting the firm to think about the cohort as a key unit of analysis when seeking to understand revenue and profit dynamics. A common conclusion is that the revenue for each cohort decays over time and recognizing the nature of this decay is critical for understanding long-term growth.Having looked at one cohort, it is natural to look at another cohort and start questioning how and why the cohorts differ.
That should be a lesson for Nehammer! Not winter season or touristic places are bringing money. Tourists are, Romanians paying interest to ERSTE or Raiffeisen, Romanian giving contract for fossil fuels to OMV, those wasting time and money to useless borbers. boycottaustria
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Utoday_en - 🏆 295. / 63 Read more »