What Defines Your ‘Most Valuable’ Customers? | @BigDataExpo #BI #BigData #Analytics

I hear it often; I need to acquire more customers like my “most valuable” customers. But what makes a customer “most valuable”? What are the characteristics and/or behaviors that make a customer “most valuable”? This simple question is anything but simple. Let me explain through an exercise. Let’s say that you work for an airline (note: this exercise works equally well with other customer-centric industries such as hospitality, gaming, entertainment, retail, credit cards, financial services, telco and insurance). You have been asked to identify the airline’s “most valuable” customers. This information will be used to prioritize marketing, sales, support and product development efforts. As part of your analysis, you identify three different customer scenarios and need to determine which of these customer scenarios is “most valuable”:

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