A collection of 7 posts
Since launching in 2015, Ritual has sold over a million bottles of vitamins through its subscription service. Over the last year, Ritual has worked with Faraday on a few core initiatives to better understand their customers and grow their brand.
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"This app is incredible. I used Google Analytics, I used other apps, but the level of customer insights you get from Faraday is a complete game-changer..."
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If you’re going to make an investment in machine learning and seek actionable insights from your customer data, you need to approach the effort strategically.
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Most data scientists practice some version of what could be called a data survey; the goal is to surface meaningful patterns, gaps, and anomalies with an eye toward prediction.
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The rule of thumb is the more data the better. The more information our models can train off of, or the larger data set to glean insights from will allow for much more meaningful results versus just being based on a random or predetermined set of data.
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As consumers’ spending habits change, companies will see shifts in their customer base... The ability to quickly identify and act on these big-picture changes is just as important as adapting to changes in the more granular aspects of their marketing strategy.
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During times of economic uncertainty, consumer spending inevitably slows. While most companies feel the direct impact, these changes can present opportunities for brands to strengthen relationships with their customers.
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