The role of the VP of Analytics typically involves a blend of leadership, business acumen, and technical expertise Whether the role is performed by a VP of Analytics (or as part-time responsibility of finance, marketing, engineering, or IT), the following are the primary responsibilities of an the analytics function within an organization.
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The article evaluates the financial worth of improving prediction models, using a subscription churn scenario. It discusses methods like confusion and cost-benefit matrices to assess a model's impact on revenue, comparing baseline and advanced models to highlight the potential significant returns from investing in more sophisticated predictive analytics.
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Churn, the rate at which customers leave your service, can make or break a subscription model. Often, there's a tendency for businesses to become overly concerned with identifying every possible factor this is correlated with subscriber churn. However, my experience suggests that a model focusing on just three key factors can be highly effective in predicting subscription churn.
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I recently enjoyed reading the 1983 classic Adventures in the Screen Trade by William Goldman (1931-2018), who wrote many screenplays including Butch Cassidy and the Sundance Kid1. In the book, Goldman famously observed that when it comes to predicting the success of a movie, "nobody knows anything." I don't …
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