Do you wonder if the changes that you’ve made in your business impacted new customers or you want to understand the needs of your user base or identify trends? That and much more you can do with our new model, Customer Cohort Analysis.
Cohort analysis allows you to ask targeted questions and make informed product decisions that reduce churn and increase revenue.
A cohort is a subset of users or customers grouped by common characteristics or by their first purchase date. Cohort analysis is a type of behavioral analytics which allows you to track and compare the performance of cohorts over time.
With Graphite, you are only a few steps away from your Cohort model. Once you have selected your dataset, it is time to enter the parameters into the model. The Time/Date Column represents a time-related column. After that, you have to select the Aggregation level. For example, if monthly aggregation is selected, Graphite will generate Cohort Analysis with a monthly frequency. Also, it is very important that your dataset contains Customer ID and Order ID/ Trx ID columns as required model parameters. Last but not least, you have to select the Monetary (amount spent) variable, which represents the main parameter for your Cohort Analysis. Additionally, you can break down and filter Cohorts by a business dimension (variable) which you select after you enable the checkbox.
That's it, your first Customer Cohort Analysis model is ready. In the next post, we will go through Model Results so stay tuned. Enjoy! 🙂